Topic: Bamk - A Stablecoin in Bitcoin on-chain through Runes protocol - page 2. (Read 336 times)
Does anyone still remember USDT on Bitcoin on-chain which use OmniLayer protocol? And aside from what @examplens said, stable coin also exist on Bitcoin sidechain (such as Liquid).
We don't need stable garbage to further burden the network.
btw. Lighting Labs already successfully tested enabling stablecoins on the Bitcoin blockchain https://bitcointalksearch.org/topic/m.64117539
btw. Lighting Labs already successfully tested enabling stablecoins on the Bitcoin blockchain https://bitcointalksearch.org/topic/m.64117539
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Bamk.fi protocol is the issuer of the Nakamoto Dollar, NUSD, a synthetic dollar on Bitcoin L1.
- In phase 1, NUSD is backed 1:1 with USDe, and holding NUSD accrues BAMK every block
- In phase 2, NUSD will be fully-backed by a delta-neutral Bitcoin position earning a native yield, the 'Bitcoin bond'
NUSD is circulating on BRC20-5byte and the Runes protocol, with plans to issue on all viable protocols on Bitcoin L1.
https://bamkfi.gitbook.io/bamkfi-docs
I found this project, and decided to post it here for everyone to discuss - How it works, discuss the technical details, strengths, weaknesses, trade-offs, importance, news, and everything else that's needed to be known.
Stablecoins on-chain could be good for Bitcoiners who don't want to go through centralized exchanges/other blockchains to convert their Bitcoins to fiat or stablecoins during times when the market is bearish.
Plus stablecoins have become some sort of "primitive" that's needed in crypto. It's probably now something fundamental.
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