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Editor’s Note — added 20 May 2026 This page is retained as a historical record. The work described here was carried out by the NBW Foundation (formerly the Elastos Foundation) — not by Elastos DAO. Elastos DAO did not issue, fund, operate, guarantee, or approve BTCD or any of the activity reported on this page. For the current position of Elastos DAO and Elacity Labs, please read: Elastos, Where We Stand Today. About this specific update: This was a Foundation-era call-to-action inviting community members to test BTCD on the Elastos Smart Chain. The BTCD product, the testing program, and any associated terms were Foundation/NBW initiatives. Elastos DAO did not run, fund, or supervise BTCD testing. |
- BTCD Testing is live on the Elastos Smart Chain (ESC) and opens a seven-day, Bitcoin-backed loan cycle to private testers.[1]
- A Glide liquidity pool (BTCD–ELA) will supply the BTCD you’ll need to pay interest.
- Deposits: Recommended 0.001 with maximum of 0.1 BTC per contract (gradually rising to 1 BTC, then 10 BTC as the protocol hardens).
- Loan term: 7 days today, 90 days after 1 Aug 2025, when BTCD launches on PGP chain, Elastos partner.
- Security audit: in progress, first report expected early August.
- Bug-bounty: 20 / 50 / 100 ELA for small, standard, and critical findings provided by NBW Team the developer of BTCD.
- Safety net: if you lose BTC during the test window, the NBW Team will reimburse you.
- Next step: join the tester roster by pinging NBW Team the developer of BTCD, in the Elastos Telegram.
Why This Matters
Bitcoin’s $2 trillion market cap sits mostly idle. BTCD converts that latent capital into programmable liquidity without surrendering full custody, a breakthrough several years in the making. By anchoring a stable asset to native BTC locked in P2WSH vaults and verified by zero-knowledge proofs, BTCD pairs Bitcoin’s security with the flexibility of EVM DeFi.
Launching any BTC-native stablecoin carries two existential risks:
- Bridge Risk – moving BTC off-chain traditionally relies on custodians or wrapped derivatives.
- Smart-Contract Risk – once BTC is in play, contract failure jeopardises an irrecoverable asset.
The controlled community test is engineered to attack both vectors in the smallest safe increments:
- Narrow loan size (0.1 BTC cap) limits blast radius.
- Short 7-day term accelerates feedback loops.
- Hard fork to 90 days in August gives the Elastos Foundation time to integrate lessons before scale-up on the new PGP execution layer.
What You’ll Be Testing
| Phase | What you do | What the system proves |
| Deposit BTC | Send 0.001–0.1 BTC into a BTCD vault generated by the dApp. | P2WSH address control + multi-sig arbiter network. |
| Mint BTCD | Receive BTCD at a 40–65 % collateral ratio plus ELA buffer. | ZKP shows BTC is locked; ESC contract gives you BTCD. |
| Borrow / Repay (≤ 7 days) | Use BTCD or swap for ELA; repay principal + interest in BTCD. | Loan logic, interest accrual, liquidation timers. |
| Redemption | Burn BTCD, reclaim your BTC | Arbitrator override paths, time-lock refunds, UX edge cases. |
Incentives & Safeguards by NBW Team the developer of BTCD
| Outcome | Reward / Remedy |
| Edge-case bug (UI glitch, minor mis-calc). | 20 ELA |
| Functional bug (incorrect interest, stuck funds). | 50 ELA |
| Critical bug (collateral loss, contract halt). | 100 ELA + public Hall-of-Fame credit |
| BTC loss (any cause). | 100 % reimbursement once incident is verified |
How to Join
Quick-Start Checklist
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- Get whitelisted: Join Elastos telegram and ping NBW Team
- Fund wallets: a little BTC (Native Segwit) for collateral + ELA (ESC) for gas.
- If on Elastos Essentials: Open dApp in Essentials → Discover dApps → URL will be provided (select ESC network).
- Connect two wallets: your EVM wallet + your BTC wallet when prompted.
- Borrow cycle: Create order → Take order → Lock BTC → Submit proof → Claim BTCD → Repay → Unlock BTC (step-by-step inside the app).
- Contract: 0x571efCD9c25A57cda70Ca4172cb5A773179C9209 (BTCD on ESC).
Looking Forward
- Early Aug 2025: Audit report drop + automatic extension of loan tenor to 90 days.
- 1 Aug 2025: Simultaneous deployment by Creek Business Center registered in Duabi, UAE on the Elastos partner, PGP chain to tap wider liquidity and cross-community arbitrage.
- Post-launch: Gradual lift of the per-contract ceiling—0.1 → 1 → 10 BTC—gated by real-time risk metrics and formal-verification coverage.
Your participation now shapes the safety, usability, and credibility of that future. Let’s battle-test it together—then unleash Bitcoin’s full productive power. Ready? Ping moderators, load up a sliver of sats, and break our code.
Further Reading
- Introductory BTCD deep-dive on the Elastos blog
- Weekly “Behind the Code” update tracking NBW Team’s BTCD production readiness.
Disclaimer: This post is for community-testing coordination only and does not constitute financial advice. Always assess personal risk before interacting with experimental protocols.
Footnotes
- [1] BTCD testing and any associated terms or rewards were administered by the NBW Foundation (formerly Elastos Foundation). Elastos DAO did not run, fund, or supervise the testing.
