New paper: The Bitcoin Dollar โ Mathematics and Research.
Model every collateral asset as a function of one variable, the BTC price, and hedging collapses to two numbers: elasticity and convexity. Null the diffusion, and the residual drift is your yield.
Four years of hourly backtests inside.
The Bitcoin Dollar whitepaper is now live, link below ๐
Stablecoin yield is becoming a lot more sophisticated than simply depositing assets and hoping market conditions remain favorable.
The structure behind @BTCDOfficial is a good example of that evolution.
The USD Vault is built around sBTCD, a balanced BTC + USD collateral framework where both sides are actively deployed while the BTC exposure remains hedged underneath.
Users deposit USDC, earn USD-denominated yield targeting ~14โ16% APY, and retain the ability to exit atomically without queues or cooldown periods.
Entry fee is 0% while exit fee is as low as 0.2%
The combination of productive collateral deployment, portfolio rebalancing, and flexible liquidity makes for a pretty unique design within DeFi yield infrastructure.
Update on our Bitcoin Dollar USDC vault on @ipor_io Fusion.
Entry fee now 0%. Exit fee reduced to 0.2%.
Launch fees were a buffer. Collected fees went back to holders as yield, so new entrants never diluted them.
Now the highest-yielding stablecoin product on the platform.
1/ The Clarity Act just cleared the Senate Banking Committee 15-9.
Crypto Twitter is losing its mind. Understandably.
But for DeFi, one provision matters more than the headlines: a statutory exclusion for decentralized finance activities from broker-dealer registration.
Here's what that actually means:
Most DeFi yield is just one of two things:
โข Long BTC with extra steps
โข Funding-rate farming
Looks great in a bull market.
Then funding flips negative, volatility dries up, and the โstableโ yield disappears.
Been digging into @BTCDOfficial because the structure is actually different ๐
500k achieved before the end of the 1st wk!
Bitcoin Dollar's @ipor_io is ๐ณ
We see that a new Morpho market was dropped, more on this in the coming days
โฟโฟโฟโฟโฟโฟโฟ