CitreaUSD

Decentralised Bitcoin backed stablecoin with native yield maintaining peg with perp short position of bitcoin derivates.

Built at ETHIndia 2024

Created on 8th December 2024

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CitreaUSD

Decentralised Bitcoin backed stablecoin with native yield maintaining peg with perp short position of bitcoin derivates.

The problem CitreaUSD solves

Stablecoin with Native Yield to Tap into the Bitcoin Economy, Enabled by Citrea

Bitcoin-Backed Store of Value: Introducing cUSD, a stablecoin backed by Bitcoin, catering to DeFi and trading communities on Citrea with a reliable and secure value proposition.
Bitcoin-Native Yield: Staking cUSD to sCUSD provides users with native Bitcoin yield, unlocking sustainable rewards for stablecoin holders.
Direct Staking from Bitcoin Blockchain: Seamless integration enables users to stake directly from the Bitcoin blockchain, abstracting complexity while bridging Bitcoin with the DeFi ecosystem.

Challenges I ran into

Few develepor challenges while working with citreaEVM, but devrel was very supportive and helpful to help me figure out a way

Additional Features

Built completely during ethIndia 2024

Tracks Applied (3)

Best Scaffold-ETH2 entry

Built The decentralised Bitcoin backed stablecoin project with scaffold-eth2.

BuidlGuidl.eth 🏰 🔥

Experimental DeFi

Our project introduces cUSD, a Bitcoin-backed stablecoin built on Citrea. By locking Bitcoin through Citrea's BitcoinLig...Read More

Citrea

Best Use of BitcoinLightClient

Our project enables users to stake Bitcoin directly and earn rewards without leaving the Bitcoin blockchain. Using the C...Read More

Citrea

Technologies used

Solidity

Next.js

ethers.js

TypeScript

Ethereum

React.js

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Discussion

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