The Bitcoin DeFi project Elastos has launched a BTC-backed stablecoin BTCD.

BTC-0.73%
ELA-1.75%
ChainCatcher news, according to CoinDesk, Bitcoin DeFi protocol BeL2 developer Elastos announced the launch of the BTC-backed stablecoin BTCD.
Elastos marketing director Ahmed IJ stated that BTCD is backed by Bitcoin, with the collateral amount equivalent to 160%-200% of the value of BTCD. When the price of BTCD exceeds 1 USD, holders will burn tokens to redeem BTC, leading to a decrease in supply and a downward price trend; if it falls below 1 USD, users will deposit new BTC to mint BTCD and sell, resulting in an increase in supply and a price rebound.
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GateUser-5060ec9avip
· 2025-07-21 11:19
Hold on tight, we are about to To da moon 🛫
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