PANews reported on May 8, according to Bitcoin.com, that Alpen Labs has launched the Bitcoin-backed over-collateralized stablecoin BTD, which is pegged to the US dollar at a 1:1 ratio and fully backed by Bitcoin as collateral. BTD will operate on the ZK Rollup Layer2 network developed by Alpen Labs, designed to reduce trust assumptions while integrating the Liquity V2 lending protocol, allowing users to directly collateralize BTC to mint stablecoins. BTD employs immutable smart contract design, does not rely on governance tokens or upgradeable code, and aligns with Bitcoin's decentralization principles. Unlike most stablecoins, BTD does not use algorithmic models or centralized management, but still depends on third-party oracles for BTC/USD price data. Alpen Labs stated that it will reduce oracle risk through multi-source data aggregation.
Developers can experience BTD on the upcoming testnet, which will support decentralized lending and trading applications, and will undergo integration testing with Bitcoin payment layers like Taproot Assets. David Seroy, head of the Alpen Labs ecosystem, emphasized that BTD is committed to expanding the Bitcoin financial ecosystem while maintaining decentralization.
