Bitcash
First Decentralized Cross-Chain Stablecoin on Solana
Bitcash is leading innovation on Solana. We created DAIX, the first fully decentralized cross-chain stablecoin built on the Solana blockchain. It's backed by a smart contract system. Our platform seamlessly integrates BRC20 token ORDI and Bitcoin into the Solana ecosystem. This cross-chain capability is a major step forward for decentralized finance. Bitcash aims to revolutionize liquidity and asset management in DeFi. We are bridging assets and setting a new standard for stability and decentralization in crypto.
DAIX Overview
Our process for creating DAIX involves leveraging ORDI and BTC as primary collateral, focusing on cross-chain interaction.
Anchored Stability
DAIX is anchored in the Solana ecosystem, initially gaining stability and value from ORDI and BTC collateral. Support will expand to include additional assets for a robust foundation.
Market Reliability
DAIX serves as a stable asset in volatile crypto markets, making it a solid choice for trading and long-term investment.
Broad Interoperability
DAIX's cross-chain functionality enhances integration across various blockchains, promoting a more unified digital asset environment.
Minting Process
Bitcash offers a unique DAIX minting process centered on wrapped ORDI aka wORDI, a SPL token.
Staking wORDI
Users stake wORDI as collateral to begin generating DAIX. This forms the core of our collateral system.
ORDI to wORDI Conversion
Our built-in bridge allows seamless conversion of native ORDI to SPL-compatible wORDI for use on Solana.
Initial Focus
We initially accept wORDI exclusively for collateral to ensure stability and efficiency. Support for additional collateral types is planned.
Cross-Chain Allocation
A significant portion of minted DAIX is designated for cross-chain use, particularly within Solana, expanding DAIX utility and reach.
Stability Management
Bitcash employs a rigorous system to ensure financial stability.
Overcollateralization
Users must stake collateral value exceeding the DAIX they mint. For instance, a 50% overcollateralization rate means $100 in wORDI allows minting up to 50 DAIX.
Health Factor
This metric indicates the safety of your staked position and risk of liquidation.
Liquidation Trigger
Liquidation automatically occurs if the Health Factor drops below a predetermined threshold (e.g., 20) due to decreasing collateral value. This protects the system and other users.
