Elastos has announced the launch of The Bitcoin Dollar (BTCD), the world's first fully Bitcoin-backed stablecoin, on its decentralized platform. This innovation allows Bitcoin holders to unlock liquidity without selling their BTC. The launch is scheduled for August 2025 on the Elastos ECO mainnet and PG Protocol Chain.
BTCD is fully collateralized with Bitcoin and governed by Elastos' merge-mined SmartWeb. It offers on-chain transparency and real-time proof-of-reserves. The collateral ratio will be 40%-65% BTC plus ELA over-collateralization buffer.
The system utilizes the Elastos SmartWeb, secured by over 50% of Bitcoin's hash power, representing approximately $7.74 billion annually. The liquidation mechanism will be handled through decentralized exchanges if the collateral ratio drops below the threshold. Security audits are planned by Certik, SlowMist, and Trail of Bits by June 19, 2025.