Elastos, the developer of the Bitcoin DeFi protocol BeL2, has announced the launch of a BTC-backed stablecoin, BTCD.
Ahmed IJ, head of marketing at Elastos, said that BTCD is backed by bitcoin and the collateral amount is equivalent to 160% -200% of the value of BTCD. When the price of BTCD is above $1, holders will destroy the tokens to redeem BTC, causing supply to decrease and the price to decline. If it falls below $1, users deposit new BTC to mint BTCD and sell it, causing supply to increase and prices to recover.
Bitcoin DeFi Project Elastos Launches BTCD Backed by BTC
2025-06-18 16:18:44
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