Alpen Labs Launches Bitcoin Dollar (BTD), a Collateralized Stablecoin Fully Backed by BTC, Aiming for Decentralization and High Censorship Resistance.
Alpen Labs has just announced the bitcoin dollar (BTD) – a new stablecoin collateralized by Bitcoin and operating on zero-knowledge rollup technology (ZK Rollup). The project aims to provide an alternative solution with higher censorship resistance compared to existing centrcentralized stablecoins like USDT or USDC.
BTD is designed as an Over-Ateralizedaterstecoin, pegged to the USD and fully guaranteed by BTC assets. This stablecoin will operate on Alpen Labs' ZK Rollup – a Layer 2 expansion solution for Bitcoin aimed at minimizing the need to trust intermediaries.
Integration of Liquity V2 Lending Protocol with Immutable Contract
BTD integrates the Liquity V2 lending protocol, allowing users to issue BTD by collateralizing BTC without using governance tokens or upgradable source code. According to Alpen Labs, the main features of BTD include an immutable smart contract from the deployment time and no centralized intermedi,ary, strictly adhthe Bitcoin ecosystem's decentralization p>Contrary to many popular many stablecoins, BTD does not depend on speculative tokens or centralized governance monitoring systems. However, BTD's operating mechanism still relies on third-party oracles to retrieve the BTC/USD exchange rate. says they oracle risks by aggregdataating providers.
"Bitcoin is Bitcoin trusted digital asset, but the financial around it often goeseds against core principles," David David Seroy,'sroy, of Ecosystem Department at Alpen Labs, "stated in the BTis the stablecBitcoincoinoin deserves – have a neutral, immutable protocol that while decThis will foundation for truly free financial system system system."will test the testnet of Alpen,, which decentralized lending and trading applications. The testnet's goal is to complete integration with emerging Bitcoin layers like Taproot Assets and Fedimints.
