Alpen Labs has launched the bitcoin greenback (BTD), a bitcoin-collateralized stablecoin constructed on zero-knowledge rollup expertise, aiming to offer a censorship-resistant various to centralized stablecoins.
ZK Rollups Energy Alpen’s New Bitcoin-Backed Stablecoin
The bitcoin greenback (BTD) will function as an over-collateralized stablecoin pegged to the U.S. greenback, utilizing bitcoin ( BTC) as its sole backing asset. It is going to run on Alpen Labs’ zero-knowledge (ZK) rollup, a layer two (L2) Bitcoin scaling answer designed to reduce belief assumptions.
Furthermore, it can additionally leverage Liquity V2’s borrowing protocol to allow customers to mint BTD in opposition to locked BTC with out governance tokens or upgradeable code. The group at Alpen Labs instructed Bitcoin.com Information key options embody immutable good contracts from deployment and no centralized intermediaries, aligning with Bitcoin’s decentralized ideas.
In contrast to many stablecoins, BTD won’t depend on speculative tokens or administrative oversight, although it stays depending on third-party oracles for BTC/USD worth feeds. Alpen Labs plans to mitigate oracle dangers by aggregating information from a number of suppliers.
Builders can experiment with BTD on Alpen’s upcoming testnet, which is able to assist decentralized lending and buying and selling functions. The testnet goals to refine integration with Bitcoin’s rising fee layers, equivalent to Taproot Property and Fedimints.
“Bitcoin is probably the most trusted digital asset, but its monetary ecosystem typically compromises its ideas,” David Seroy, Head of Ecosystem at Alpen Labs shared within the launch. Seroy added that BTD “is the stablecoin Bitcoin deserves—a impartial, immutable protocol that empowers customers whereas upholding decentralization. That is the inspiration for a very free monetary system.”
