Growth Strategy

Bit Protocol has a clear growth strategy paving the way for a omnichain DeFi ecosystem at its core. Building on this foundation, Bit Protocol enables the potential for yield bearing collaterals, such as Liquid Staked Tokens (LSTs), and Liquidity Positions (LPs). The final cornerstone includes Insuring collateral asset, enhancing BitUSD utility, security, and sustainability.

Objective One: Establishing Foundations with Reliable Collateral

Initial Collateralization Using Native Token: The journey begins with native gas coins of the networks Bit Protocol is deployed on. Assets like ETH, BTC, ROSE, BNB, and S (Sonic) are necessary to use the networks they are based on and serve as the primary collateral on their respective chains. This choice synergizes with the ethos of Bit Protocol and its integration with multiple networks.

Objective Two: Embracing Omnichain Functionality

Rolling Out Omnichain Capabilities: Bit Protocol's vision includes extending its reach across multiple EVM-compatible chains, such as Ethereum, through omnichain functionality. For example, this could include collaterals like ETH or stETH on Ethereum or one of its many layer-2 networks.
Enhancing Liquidity and Accessibility: By accommodating different collaterals, Bit Protocol aims to increase bitUSD's liquidity and utility, making it an adaptable and inclusive stablecoin option across the entirety of DeFi.

Objective Three: Expanding Collateral Options

Incorporating Yield-Bearing Assets: This will see the addition of yield bearing collateral options including LSTs and LPs. This move broadens the platform's appeal, letting users leverage staked assets to continue to accrue staking rewards.
Utilizing RWAs: Real World assets represent Trillions of dollars in cumulative value. By tokenizing them on the blockchain we can utilize them as collateral for BitUSD, thus giving more utility to these assets and removing the need for middlemen to manage complex financial instruments for the owners of these assets.
Experiencing Memes: Meme coins are a incredible phenomenon with large amounts of financial and social interest. By allowing users to borrow BitUSD against their memes we give real utility to these otherwise function-less assets while attracting the attention of large communities to our ecosystem.
Enhanced Utility and Flexibility: This expansion not only diversifies Bit Protocol's collateral base but also enhances the financial options available to users, as they continue to accrue yield on their underlying assets, whilst being able to use their bitUSD freely across other DeFi protocols.

Concurrent Development: Building Utilities for bitUSD

Integrating with Money Markets and Trading Platforms: Bit Protocol will focus on developing utilities for bitUSD, including (but not limited to) integration into money markets and spot and futures trading platforms, ensuring bitUSD has genuine utility.
Catering to Evolving Market Needs: These developments will ensure that bitUSD remains relevant and valuable, and is adopted and utilized as the premier medium of exchange across DeFi on multiple chains.

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Last updated 13 days ago

Objective One: Establishing Foundations with Reliable Collateral

Initial Collateralization Using Native Token: The journey begins with native gas coins of the networks Bit Protocol is deployed on. Assets like ETH, BTC, ROSE, BNB, and S (Sonic) are necessary to use the networks they are based on and serve as the primary collateral on their respective chains. This choice synergizes with the ethos of Bit Protocol and its integration with multiple networks.

Objective Two: Embracing Omnichain Functionality

Rolling Out Omnichain Capabilities: Bit Protocol's vision includes extending its reach across multiple EVM-compatible chains, such as Ethereum, through omnichain functionality. For example, this could include collaterals like ETH or stETH on Ethereum or one of its many layer-2 networks.

Enhancing Liquidity and Accessibility: By accommodating different collaterals, Bit Protocol aims to increase bitUSD's liquidity and utility, making it an adaptable and inclusive stablecoin option across the entirety of DeFi.

Objective Three: Expanding Collateral Options

Incorporating Yield-Bearing Assets: This will see the addition of yield bearing collateral options including LSTs and LPs. This move broadens the platform's appeal, letting users leverage staked assets to continue to accrue staking rewards.

Utilizing RWAs: Real World assets represent Trillions of dollars in cumulative value. By tokenizing them on the blockchain we can utilize them as collateral for BitUSD, thus giving more utility to these assets and removing the need for middlemen to manage complex financial instruments for the owners of these assets.

Experiencing Memes: Meme coins are a incredible phenomenon with large amounts of financial and social interest. By allowing users to borrow BitUSD against their memes we give real utility to these otherwise function-less assets while attracting the attention of large communities to our ecosystem.

Enhanced Utility and Flexibility: This expansion not only diversifies Bit Protocol's collateral base but also enhances the financial options available to users, as they continue to accrue yield on their underlying assets, whilst being able to use their bitUSD freely across other DeFi protocols.

Concurrent Development: Building Utilities for bitUSD

Integrating with Money Markets and Trading Platforms: Bit Protocol will focus on developing utilities for bitUSD, including (but not limited to) integration into money markets and spot and futures trading platforms, ensuring bitUSD has genuine utility.

Catering to Evolving Market Needs: These developments will ensure that bitUSD remains relevant and valuable, and is adopted and utilized as the premier medium of exchange across DeFi on multiple chains.