Breaking: BTCD – The First Fully Bitcoin-Backed Stablecoin Launches on Elastos
DUBAI, AE / ACCESS Newswire / June 19, 2025 – In a groundbreaking move that is set to revolutionize the stablecoin market, the Bitcoin Dollar (BTCD) has officially announced its launch on the decentralized platform Elastos. This innovative stablecoin, which is fully collateralized with Bitcoin, promises to deliver on-chain transparency, real-time proof-of-reserves, and a secure way for Bitcoin holders to unlock liquidity without selling their BTC.
BTCD: A New Era in Stablecoins
Led by a team of Harvard alumni and incubated at the Harvard Innovation Labs, BTCD is the world’s first Bitcoin-native stablecoin. It is governed by the Elastos’ merge-mined SmartWeb, which ensures a high level of security and transparency. The project leverages Bitcoin’s trillion-dollar balance sheet to create a programmable, trust-minimized currency backed by digital gold.
How BTCD Works
Bitcoin holders can lock their BTC into a P2WSH address, maintaining non-custodial control of their funds. Miners compute and deliver zero-knowledge proofs to Ethereum-compatible smart contracts, triggering BTCD issuance and monitoring operations in return for small BTC fees. This innovative approach unlocks programmable Bitcoin finance and enables stablecoin liquidity without the risks of wrapped BTC, derivative tokens, or custodial intermediaries.
Security and Governance
BTCD uses the Elastos SmartWeb (ELA), founded by ex-Microsoft senior engineer Rong Chen in 2018, for its unique merge-mining infrastructure. Over 50% of Bitcoin’s hash power secures its toolsets in return for ELA rewards. Major mining pools like Antpool, F2Pool, ViaBTC, and Binance Pool contribute to this system. BTCD provides miners the ability to further secure operations by staking ELA as collateral, supporting arbitration, liquidation, yield-sharing, and cross-chain communication.
Key BTCD Facts
- Collateral Ratio: 40%-65% BTC plus ELA over-collateralization buffer
- Proof-of-Reserves: Real-time on the Bitcoin chain with zero-knowledge attestation
- P2WSH Address: Funds locked natively on Bitcoin, non-custodially controlled by an on-chain script
- Native BTC DeFi: Elastos enables smart contracts on Bitcoin’s L1—no wrapped BTC, no derivative tokens, no custodial risk
- Liquidation Mechanism: If the collateral ratio drops below the threshold, BTC can be liquidated through decentralized exchanges
- Security Audits: Certik, SlowMist, Trail of Bits (June 2025)
- Launch Date: August 2025 on Elastos ECO mainnet (EVM-compatible) and PG Protocol Chain, with broader expansion planned
- Tickers: BTCD (stablecoin) and ELA / PGA (governance/staking)
Expert Insights
“Satoshi advocated merge-mining with Bitcoin in 2010 to give miners extra revenue streams while supporting new solutions at no extra cost,” said Sunny, co-founder of Elastos. “Elastos leverages its ELA merge-mining security to deliver ecosystem solutions like BTCD through staking opportunities—providing a new stablecoin which rewards miners and empowers Bitcoin to back the future of money.”
Real-Time Dashboards and Transparency
Real-time dashboards display collateral ratios, liquidations, and protocol fees for BTCD miners. This design echoes how the Bretton Woods system once anchored the dollar to gold—now reimagined with Bitcoin at its core. If miners fail to perform, they are penalized with staked ELA collateral equal to the BTC transactions they support. ELA’s design ensures that as BTCD adoption grows, demand for ELA grows too—aligning incentives across the entire ecosystem.
Future Implications
BTCD lets users put their BTC to work without trusting a central bank. It unlocks its value for consumer markets and allows for fair value exits. BTCD unites Bitcoin’s trillion-dollar balance sheet with Elastos’ decentralized infrastructure, tapping into Bitcoin Finance, transparency-first regulation, and sustainable hash-power reuse—aligning with the trend toward tokenizing all value and restoring trust in global finance.
Get Started Today
Journalists, influencers, and developers: Visit Elastos.net for the full press kit, live dashboard, and interviews.
Exchanges and wallets: Contact [email protected].
Bitcoiners: Put your BTC to work at Elastos.net today.
BTCD is the world’s first Bitcoin-native stablecoin, fully collateralized with Bitcoin and governed by ELA on the Elastos SmartWeb. The project is led by a team of Harvard students and alumni incubated at the Harvard Innovation Labs.
