DUCAT

Ducat Protocol and its stablecoin UNIT will be the first overcollateralised primitive for Bitcoin-native DeFi, managed BTC-natively via the DUCAT token. Recent innovations in Bitcoin programmability have enabled BTC-Fi to begin closing the gap between Bitcoin and its EVM competitors. This allows for the possibility of a stablecoin backed by native BTC for the first time; hence, UNIT, the stablecoin managed by DUCAT, is over 150% collateralised with BTC. Bitcoin Runes will tokenise Ducat, and governance will be enabled via zero-knowledge proof circuits memorialised on Bitcoin ordinal inscriptions.