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BITU: The First Bridgeless, Decentralized Stablecoin on Bitcoin

BITU introduces the first decentralized stablecoin on Bitcoin, using a Collateralized Debt Position (CDP) model that allows users to issue stablecoins directly from their BTC holdings. Here’s what sets BITU apart:

● BTC-Backed Stablecoin: BITU is a truly decentralized stablecoin that is fully collateralized by Bitcoin itself. By locking BTC into the BITU protocol, users can mint stablecoins without moving their assets off-chain or compromising control of their BTC.

● No Bridge Required: Unlike existing solutions that rely on cross-chain bridges, BITU eliminates the need for users to move BTC across chains, keeping the entire process native to the Bitcoin network. This ensures trustless and decentralized interactions without introducing third-party risks.

● Proof of BTC Without Transactions: BITU allows users to provide proof of their BTC balance without needing to move or transfer their Bitcoin. This seamless and trustless mechanism gives users control over their assets while participating in the stablecoin ecosystem.

● Trustless and Decentralized CDP Model: BITU uses a decentralized CDP model to issue stablecoins. Users maintain full control of their BTC and decide when to issue or redeem BITU. The protocol cannot transfer BTC without the user's explicit permission, ensuring that control remains in the hands of the users.

● Increased Liquidity and Leverage: BITU is the first protocol on Bitcoin to support mapping BTC in a way that increases both liquidity and leverage. By providing an innovative method for BTC holders to participate in the decentralized finance (DeFi) ecosystem, BITU enables broader use of Bitcoin’s liquidity without sacrificing decentralization.

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