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Ducat Protocol
Ducat Protocol is a Bitcoin L1-native credit and stablecoin protocol. It enables BTC holders to borrow UNIT or USDC against non-custodial Bitcoin vaults while retaining custody of their BTC.
Distributed
Description
Ducat Protocol provides non-custodial, Bitcoin-native borrowing through 2-of-2 Taproot vaults. Users deposit BTC, borrow the dollar-pegged UNIT stablecoin or USDC, and can repay to redeem their BTC; vault, loan, and liquidation logic is enforced by Bitcoin Script. UNIT is an overcollateralized BTC-backed stablecoin issued on Bitcoin L1, with transfers supported through an ecash layer and 1:1 USDC conversion.Grant Funding
VC Funding
None
2024
2025
$0
$2.8M