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Futures
Futures
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HOT
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Auto-invest on a regular basis
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Buy low and sell high to take profits from price fluctuations
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Pledge one crypto to borrow another
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New
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Customized asset management to grow your digital assets
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GUSD Minting
New
Use USDT/USDC to mint GUSD for treasury-level yields
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The Bitcoin DeFi project Elastos has launched a BTC-backed stablecoin BTCD.
ChainCatcher news, according to CoinDesk, Bitcoin DeFi protocol BeL2 developer Elastos announced the launch of the BTC-backed stablecoin BTCD. Elastos marketing director Ahmed IJ stated that BTCD is backed by Bitcoin, with the collateral amount equivalent to 160%-200% of the value of BTCD. When the price of BTCD exceeds 1 USD, holders will burn tokens to redeem BTC, leading to a decrease in supply and a downward price trend; if it falls below 1 USD, users will deposit new BTC to mint BTCD and sell, resulting in an increase in supply and a price rebound.