The bitcoin dollar (BTD) will operate as an over-collateralized stablecoin pegged to the U.S. dollar, using bitcoin ( BTC) as its sole backing asset. It will run on Alpen Labs’ zero-knowledge (ZK) rollup, a layer two (L2) Bitcoin scaling solution designed to minimize trust assumptions.

Moreover, it will also leverage Liquity V2’s borrowing protocol to enable users to mint BTD against locked BTC without governance tokens or upgradeable code. The team at Alpen Labs told Bitcoin.com News key features include immutable smart contracts from deployment and no centralized intermediaries, aligning with Bitcoin’s decentralized principles.

Unlike many stablecoins, BTD will not rely on speculative tokens or administrative oversight, though it remains dependent on third-party oracles for BTC/USD price feeds. Alpen Labs plans to mitigate oracle risks by aggregating data from multiple providers.

Developers can experiment with BTD on Alpen’s upcoming testnet, which will support decentralized lending and trading applications. The testnet aims to refine integration with Bitcoin’s emerging payment layers, such as Taproot Assets and Fedimints.

“Bitcoin is the most trusted digital asset, yet its financial ecosystem often compromises its principles,” David Seroy, Head of Ecosystem at Alpen Labs shared in the release. Seroy added that BTD “is the stablecoin Bitcoin deserves—a neutral, immutable protocol that empowers users while upholding decentralization. This is the foundation for a truly free financial system.”

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