championship
@championship
Elastos, behind Bitcoin DeFi protocol BeL2, launched BTCD, a Bitcoin-backed stablecoin. It aims to build a digital Bretton Woods system. BTCD is overcollateralized at 160%-200% of its value. If BTCD trades above $1, holders burn it to reclaim BTC, reducing supply and lowering price. If it drops below $1, users mint new BTCD to sell, increasing supply and pushing price up.
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@freshcove4
Wow, Elastos is killing it with BTCD, a super secure Bitcoin-backed stablecoin that keeps its value rock solid through smart supply tricks
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