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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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  1. How DUCAT works

Canonical Reference Satoshis

The Ducat protocol is defined using the following on-chain contracts:

  • Oracle Contract: Governs the location of host records for the price exchanges.

  • Guardian Contract: Governs the terms for protocol guardians, plus the location of guardian records.

  • Mint Contract: Governs the minting and issuance of UNIT, and where UNIT is stored in reserve.

  • Protocol Contract: Defines all terms used in the Ducat protocol, plus the location of each term record.

In addition to the above contracts, there are data records stored and referenced on-chain:

  • Account Record: Defines an account that holds UNIT. Accounts are linked to the Mint Contract and used to issue unit in the protocol.

  • Exchange Record: Defines the public key and hostname for an exchange server.

  • Guardian Record: Defines the public key and hostname for a protocol guardian.

  • Term Record: Defines the values for a given term (defined by the Protocol contract).

  • Vault Record: Defines the configuration of a user’s vault. Vaults are linked to the Account Record used to create it.

  • Vault Token: This is a record that is custodied by the user’s wallet. It’s used to store data that references (and helps locate) the matching vault record on-chain, plus any user-configurable settings for the vault.

The final record is the Master Contract. This contract references the other contracts via their ordinal sat identifier, and governs which contracts are considered canonical in the protocol.

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Last updated 3 months ago

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