The Ducat Protocol governs the issuance and redemption of UNIT Collateralized Debt Positions (CDP) using Bitcoin-native, zero-knowledge proof circuits. The governance token, DUCAT, is designed for decentralization, providing a stablecoin solution that fuses Bitcoin’s censorship resistance with decentralized, native collateral. Ducat addresses the centralization issues in the stablecoin market by offering a Bitcoin-native, self-custodial, and permissionless smart contract system, catering to Bitcoin holders’ preferences for security and autonomy.
