Ask about BTCD
Logo of BTCDBTCD
Total Value Locked$650,693

TVL by Chain

Ethereum$649,538

Arbitrum$1,155

Protocol Information

BTCD is a 50/50 BTC/USD balanced base token that pairs with sBTCD (its yield-bearing staked counterpart) and FISC (governance) to form a novel DeFi primitive on Ethereum. Yield is generated primarily through productive asset allocation across BTC and USD sleeves, with internal RFQ rebalancing between vaults handling exposure shifts as BTC moves.

CategoryYield

Audits:

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Methodology

TVL: On-chain collateral across the protocol's custody contracts and eight driver contracts. Most value is captured by ERC-20 balanceOf (including Curve gauge tokens, fLiteUSD shares, and Aave V3 variable-debt WBTC — priced negatively to net out carry-trade debt); the YieldBasis LT and Morpho Blue supply positions are read explicitly. Arbitrum holds the GMX V2 sleeve. Off-chain custody is not included.View code on GitHub

Competitors

Spark Savings ($2.001b)Pendle ($1.248b)Convex Finance ($539.22m)Stake DAO ($109.95m)Multipli.fi ($55.49m)Lorenzo sUSD1+ ($181.15m)Strata Markets ($93.88m)infiniFi ($90.16m)Concentrator ($62.95m)AUTOfinance ($38.75m)