dqew
@jsnw
Elastos, behind Bitcoin DeFi protocol BeL2, launched BTCD, a Bitcoin-backed stablecoin. Aiming for a digital Bretton Woods, BTCD is overcollateralized at 160%-200%. 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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