Welcome to BitU Protocol's inaugural monthly report. In this first edition, we will review all our achievements over the last few months to let readers know of all the progress we've been making. Follow us on Twitter and Discord to get the latest updates.

BitU Protocol is proud to announce the launch of our transparency page and yield distribution to $sBITU holders. Users can find the transparency page at app.bitu.io/transparency where they can track our reserves, historical supply of the $BITU stablecoin, yield distribution transactions, and much more. The transparency page showcases important metrics and reaffirms our commitment to building a stable and accessible onchain future.

Concerns over stagflation and recession dominate the news as nations around the world continue to endure an economic slowdown. In recent years, international trade has stalled, foreign exchange has become more volatile, and consumption across the world has slowed. Many of these problems are significantly influenced by the US economy, particularly the Federal Reserve's high interest rates that were hiked to curb inflation stemming from debt and high expenditure in the wake of the pandemic. Despite this, there are hopes that US dollar stablecoins can help solve some of these issues.

The Bitcoin-backed Decentralized Yield-bearing Stablecoin Primitive

We’re excited to announce the launch of the $BITU Founding Minters Campaign, a pivotal step in our journey towards enhancing liquidity and rewarding our dedicated community. With BitU Protocol recently achieving an impressive $19 million in Total Value Locked (TVL), we’re now focusing on bringing more $BITU stablecoin minters on board. This campaign offers unique opportunities for early adopters to shape the future of our protocol and be rewarded for their commitment.

In the rapidly evolving world of cryptocurrency, trust and transparency remain elusive yet crucial elements. Imagine a stablecoin that not only guarantees security and transparency but also bridges the gap between centralized and decentralized finance, creating a seamless ecosystem where your assets work harder for you. Enter BitU Protocol—redefining the landscape of stablecoins and leading the charge in the CeDeFi revolution.

Explore BitU Protocol: A new stablecoin platform using off-chain liquidity for higher, secure yields in DeFi and Web3 adoption