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Description
ChainX, recognized as the first project to emerge within the Polkadot ecosystem, is dedicated to exploring and implementing advancements in Bitcoin's layer 2 scalability, serving as a digital asset gateway and a relay chain for Polkadot's second layer. Its goal is to facilitate cross-chain asset exchanges, paving the way for innovative developments in Bitcoin Cross-DeFi. With Bitcoin's market capitalization nearing the monumental US$1 Trillion mark, it stands as a cornerstone of the digital currency landscape, holding tremendous potential for evolving blockchain technologies and affirming Bitcoin's role as a leading payment option and an effective medium for value transfer and storage. Many believe that we have only begun to uncover the vast possibilities that Bitcoin offers. ChainX is fervently focused on enhancing and expanding Bitcoin's Layer 2 financial ecosystem, working to foster the flow of Bitcoin's value, broaden opportunities for financial derivatives, and enhance tools for hedging against market fluctuations. By doing so, they aim to unlock even greater potential for users and investors alike.
Description
Ducat is a Bitcoin-native lending and stablecoin protocol that enables users to borrow against BTC without transferring custody to a centralized lender. The protocol places Bitcoin into a 2-of-2 Taproot vault and allows borrowers to mint UNIT or receive USDC against the value of their collateral. Loan creation, redemptions, liquidations, and other core mechanics are enforced through Bitcoin transactions and Script rather than through an external blockchain or Layer 2 network. Borrowers can select different collateral ratios based on their preferred risk level and can borrow up to 62.5% of the BTC value held in a vault. Ducat charges a one-time 7% minting fee and does not charge ongoing interest on the loan. A dashboard shows collateral ratios, liquidation prices, BTC price updates, and vault health so users can monitor and manage their borrowing positions. UNIT is a dollar-pegged stablecoin backed by overcollateralized Bitcoin and can be transferred through the protocol's ecash layer or exchanged for USDC. The protocol also includes a liquidation system in which participants can recapitalize undercollateralized vaults and receive discounted BTC. Ducat states that every vault and loan can be independently verified on Bitcoin and that the system can operate without custodians, bridges, or wrapped BTC. Ducat is intended for Bitcoin holders, BTC-focused investors, and decentralized finance users seeking non-custodial access to dollar-denominated liquidity.
API Access
Has API
API Access
Has API
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Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
No price information available.
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
ChainX
Country
China
Website
www.chainx.org/en/
Vendor Details
Company Name
Ducat Protocol
Founded
2000
Country
United Kingdom
Website
ducatprotocol.com