The world’s first omni-chain Bitcoin stablecoin meets the world's first ever Smartcoin... that's a lot of firsts! 😅🏆
BTC volatility and crypto risk have long held back mainstream adoption. With USD inflation worsening with prices rising to 21.63% from 2020 to 2024, stable cryptocurrency alternatives are more crucial than ever.
While stablecoins like USDC, USDT, and DAI have seen tremendous success, dominating a $172B market with $62B in daily volume, they are heavily biased toward EVM networks. USDC and USDT also rely on centralized collateral and control mechanisms.
But what about stable value on the world’s largest and most secure network—Bitcoin? 🤔
Introducing $USBD, a Bitcoin stablecoin by Bima, designed to bring stability, efficiency, and inclusion to Bitcoin. Backed by a Minimum Collateral Ratio (MCR) of 200% or more, USBD ensures each token is over-collateralized, providing strong protection against market volatility and promoting a decentralized store of value for the Bitcoin ecosystem.
At its core, strong Bitcoin-native collateral secures USBD. That’s why Umoja and Bima have joined forces to allow $yBTC (Umoja’s low-risk, high-yield BTC liquid staking token) to be used as collateral for minting USBD.
It goes like this 👇
Minting USBD with yBTC:
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Supported Wallet: Connect a compatible wallet to the Bima protocol.
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Provide Collateral: Deposit yBTC as collateral.
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Maintain Collateralization: Ensure your collateral meets the protocol’s minimum collateralization ratio.
Since yBTC is yield-bearing, it not only supports Bima’s collateralization requirements but also lets holders borrow USBD against their Bitcoin, providing liquidity and monetization options at the same time. 🔥
We're ecstatic to be in partnership with this team, and we believe that USBD will unlock higher yields with Umoja's yBTC as collateral. 🫡
Stay tuned for more updates. Turn on all your notifications for @UmojaProtocol and @bimabtc.