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  • Welcome
  • 🪙DUCAT
    • The Ducat Protocol
  • 🔳Unit
    • Philosophy
  • 💠How DUCAT works
    • Overview
    • Architecture
    • Vaults
      • Open Vault
      • Deposit BTC
      • Borrow UNIT
      • Repaying UNIT
      • Withdraw BTC
    • Canonical Reference Satoshis
    • Multi-Party Computation (MPC) Network
    • Indexer
    • Oracles
      • How It works
      • Price Quotes
      • Generating Keys and Signatures
  • 📊Liquidations
    • Basic Mechanics
    • Profit settlement
      • Example
  • 🤝Trust Assumptions
    • Overview
    • Asset management
    • Liquidations
    • Supply Control
  • 📩Governance
    • Governance
    • Risk Management
  • ⚠️Disclaimer
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Welcome

DUCAT || UNIT is the first Bitcoin L1-native, decentralised stablecoin.

Last updated 3 days ago

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Ducat Protocol and its stablecoin UNIT will be an overcollateralised primitive for Bitcoin-native DeFi, managed natively on BTC via the DUCAT token.

Recent innovations in Bitcoin programmability have enabled BTC-Fi to begin closing the gap between Bitcoin and its EVM competitors. This allows for the possibility of a stablecoin backed by native BTC for the first time; hence, UNIT, the stablecoin managed by DUCAT, is over 160% collateralised with BTC.

Bitcoin Runes will tokenise Ducat, and governance will be enabled via distributed consensus based on the indexer stats of Ducat votes, read more about this process in the governance section.

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TRUST ASSUMPTIONS

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DUCAT

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UNIT

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HOW DUCAT WORKS

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LIQUIDATIONS

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GOVERNANCE