Funding
Funding not disclosed
Founders
Product
Problem
Bitcoin holders often lack avenues to generate yield on their holdings without relinquishing custody or facing liquidation risks. Traditional centralized platforms introduce intermediaries and potential points of failure, while navigating complex DeFi protocols can be daunting for many users.
Solution
Bitsri provides a decentralized, non-custodial platform that enables users to borrow USDC against their Bitcoin holdings or earn yield by depositing BTC into earning vaults. The platform utilizes audited smart contracts and technologies like zkSnarks, zkBridge, and Chainlink to ensure secure, transparent, and permissionless operations. Users retain full control of their assets, with no intermediaries, no KYC requirements, and no liquidation risks. Bitsri bridges Bitcoin with Ethereum and Base, allowing users to access DeFi opportunities without giving up custody of their BTC.
Target Audience
Bitsri targets Bitcoin holders seeking to unlock liquidity or earn passive income on their BTC holdings without the risks associated with centralized platforms or complex DeFi strategies.
Features
- Borrow USDC against BTC collateral with a fixed 70% Loan-to-Value (LTV) ratio and a flat 10% annual interest rate.
- Earn up to 10% APY in USDC by depositing BTC into the Earning Vault, with profits generated through strategic yield opportunities across trusted DeFi protocols.
- Non-custodial platform: users retain full ownership and visibility of their Bitcoin, which is locked in smart contracts.
- No liquidation risk: BTC will not be liquidated if the price drops.
- Permissionless and KYC-free: users can connect their Web3 wallet and interact with the smart contracts directly.
- Cross-chain operability: seamless interaction between Bitcoin, Ethereum, and Base networks.
- Real-time Bitcoin/USD price feeds powered by Chainlink Oracles.