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Elastos, behind Bitcoin DeFi protocol BeL2, launched BTCD, a BTC-backed stablecoin. It aims to build a digital Bretton Woods system. BTCD is overcollateralized at 160%-200%. If BTCD trades above $1, holders burn it to reclaim BTC, reducing supply and price. If it drops below $1, users mint new BTCD to sell, boosting supply and price.
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