Introduction
DeCus is a high capital efficiency cross-chain custody system based on innovative algorithms. We offer market a trustworthy infrastructure to make token flow across different blockchains and a safe way to leverage the utilization rate of crypto assets.
Pegged value crypto assets are tokens that have their value pegged to an underlying asset by some means. The most common type of pegged value crypto assets is stable coin, of which the value is supposed to be $1.
Different pegged value crypto assets fix this value using different mechanisms. Some maintain their peg synthetically, like sUSD, other by being backed by the the actual underlying asset, like USDT.
These different approaches and the associated risks are why the prices of pegged value crypto assets of the same type can vary slightly.
Tokenized bitcoin is another frequently used pegged value crypto assets. The underlying assets, BTC, is kept in some ways and then a certain party will mint or issue a token on other blockchains(currently is Ethereum blockchain) that has the same value as regular BTC but can be used to the full capability of an ERC-20 token. Some examples of tokenized bitcoin include WBTC, HBTC, tBTC, renBTC, sBTC and so forth.
eBTC is an ERC20 token backed 1:1 with real BTC. As the first usecase of DeCus, eBTC provides a better solution for tokenized bitcoin with improved efficiency and decreased risk in a truly decentralized way.
eBTC is building a supply peg, not a price peg, which means BTC/eBTC might not be exactly the same, and eBTC might trade at a slight premium or a discount. Actually, for
bitcoin holders, it does not matter what the actual price is, it just matters that you can redeem it for 1 BTC at any time.
2020 has seen a big blossom of DeFi applications on Ethereum Network, while bitcoin, the largest cryptocurrency by market capitalization, is incompatible with the current DeFi structure. The incompatibility makes bitcoin holders outsiders of the prosperous DeFi world, meaning that they cannot enjoy DeFi services, as well as the opportunities of liquidity mining and farming in DeFi.
Some projects are already working on addressing this problem and the amount of tokenized BTC on Ethereum has been exploding - the number of supply has increased almost 135X in 2020, from 1040 to 138,530. Despite this growth, tokenized BTC merely accounts for 0.75% of the circulating supply of real BTC.
The mission of DeCus is to make value flow across different blockchains, so in order to bring value as well as liquidity of BTC, the first-class citizen in cryptocurrency, DeCus decided to launch with eBTC, a better tokenized bitcoin to satisfy the tremendous market demand.
DeCus is built by a group of decentralization believers and DeFi natives with prior years of developer experience at leading companies both in Internet and blockchain field, with theoretical research being led by a Dr. team from the top-level computer science and cryptography major throughout the world.
Yes. After the successful launch on Ethereum, the solution can be expanded to more public blockchains such as Conflux, Nervos and Near Protocol, Binance Smart Chain and Huobi ECO Chain etc.
DeCus does not have token currently. The token economy model is under plan and will be released soon.
Security is always the top priority at DeCus. Our core code is being audited by an industry-leading company. Once accomplished, the audit report will be published on our website.
In addition, DeCus is working widely with several professional teams to test the financial infrastructure of the protocol: resilience to attacks by corrupted keepers as well as incentives for honest participants.
But we still know that our protocol depends on new technology that may contain undiscovered vulnerabilities, so we encourage the community to audit t contracts and security.
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