Welcome
DUCAT || UNIT is the first Bitcoin L1-native, decentralised stablecoin.
Ducat Protocol and its stablecoin, UNIT, form an overcollateralised primitive for Bitcoin-native DeFi, with DUCAT as its planned governance token.
Recent innovations in Bitcoin programmability have enabled BTC-Fi to begin closing the gap with EVM-based competitors. For the first time, this makes it possible to launch a stablecoin backed by native BTC. UNIT is 160% overcollateralised with BTC, with governance planned through the DUCAT token.
DUCAT is planned as an Ethereum ERC-20 governance token. The token contract has not yet been deployed. Ducat’s credit system, BTC collateral and loan state remain on Bitcoin Layer 1. For more details, see the governance section.
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