Alpen Labs has introduced Bitcoin Dollar (BTD), a stabilized stubcoin for the Bitcoin Agreement, built on zero-knowledge rollup technology.
ZK Rollups Power Alpen's new Bitcoin support Stablecoin
Bitcoin Dollar (BTD) works as an over-cooperative stubcoin nailed to the US dollar, using Bitcoin (BTC) as its sole backing asset. Runs in Alpen Labs 'Zero-Knowledge (ZK) rollup. This is a Layer 2 (L2) Bitcoin scaling solution designed to minimize trust assumptions.
Additionally, Liquity V2 borrowing protocols allow users to MINT BTD against locked BTCs without governance tokens or upgradeable code. The Alpen Labs team says key features in Bitcoin.com news include immutable smart contracts and centralized intermediaries from deployments, and are included in line with Bitcoin's decentralized principles.
Unlike many Stablecoins, BTD does not rely on speculative tokens or administrative oversight, but relies on third-party oracles in BTC/USD price feeds. Alpen Labs plans to mitigate Oracle's risk by aggregating data from multiple providers.
Developers can experiment with BTD on Alpen's upcoming testnets. It supports decentralized lending and trading applications. TestNet aims to improve integration with new Bitcoin payment tiers such as Taproot Assets and Fedimints.
“Bitcoin is the most reliable digital asset, but its financial ecosystem often compromises its principles,” said David Seroy, head of the ecosystem at Alpen Labs, shared in the release. Seroy said that BTD “deserves Stablecoin Bitcoin – a neutral and immutable protocol that strengthens users while advocating decentralization. This is the foundation of a truly free financial system.”
