BSD | Based
  • Intro
  • Protocol
    • Borrow
    • Redeem
    • Interest rates
    • Collateral
    • Stability Pool
    • Redistribution
    • Protocol Modes
    • Fees
    • Oracles
    • Keeper
    • Risks
  • Resources
    • Contracts
    • Beta
    • Audits
  • Product comparisons
  • Telegram Bot
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Intro

NextBorrow

Last updated 1 year ago

The Bitcoin Stable Dollar (BSD or Based Dollar) is a digital dollar backed by Bitcoin. With the Based Protocol you can lock your Bitcoin as collateral and lend yourself BSD. No banks or centralized rails involved; nobody can freeze, inflate, or confiscate your dollars. With BSD you can hodl forever, spend dollars today, and never sell a single Satoshi—embodying a Bitcoin based future without compromise.

Based is designed with an over-collateralized lending model, similar to , , and historic gold-backed currencies, ensuring a reliable dollar peg. The protocol runs on the Stacks blockchain and utilizes sBTC as the programmable Bitcoin collateral. This design and infrastructure combination unlocks superpowers for Bitcoin holders:

  • Bitcoin Liquidity: Hold your Bitcoin forever AND spend dollars today.

  • Bankless Lending: Infinite term, high collateral ratio, borrower set interest rate, no diligence.

  • Security: Deposit pure Bitcoin. Collateral secured by Stacks miners.

  • Decentralized: No counter parties. No rehypothication. No bankruptcy risk.

  • Simplicity: Bitcoin only collateral. No DAO. No farming. No bullshit.

Maker
Liquity