DeCus - Builders Program Application

Project Overview

DeFi is booming, while Bitcoin, the oldest and most well-known cryptocurrency, is being left out of the game due to the lack of programmability in its network. At the same time, other emerging smart contract chains have a strong need for premium underlying assets to develop their DeFi ecosystem, and Bitcoin can be exactly such an asset, due to its high market cap, high liquidity, and low volatility. How to bridge the gap? DeCus provides a secure and efficient solution.

DeCus is a high capital efficiency cross-chain custody system dedicated to bringing Bitcoin to the DeFi ecosystem. We are committed to solving the liquidity problem that prevents Bitcoin from accessing other chains in a better way. Decentralization and scalability are well balanced by DeCus as compared to other BTC-pegged tokens.

Decentralization means that DeCus builds cross-chain Bitcoins with a decentralized network made up of Keepers who are permission-less to join or leave the network at will and are randomly selected to undertake the custody work instead of using one single institution to accomplish such a task.

Scalability means high minting capacity and high capital utilization since DeCus can ensure the security of the custodian network with no over-collateralization provided by the Keepers, which means that to keep $100 in native bitcoins deposited by users, Keepers in the DeCus system only need to provide $30-50 in collaterals, while the same roles as Keepers in other systems would have to give at least $150 in collaterals.

The following chart illustrates our advantages over the current competitors:

*SATS is the name of BTC-pegged token built by the DeCus system.

We have already launched the Beta version on the Binance Smart Chain (BSC) mainnet and have our smart contracts ready to deploy in the Shiden/Astar network.

What we do in this Builders Program

Bitcoin is an underlying asset with the highest market cap and liquidity which is strongly needed by the DeFi ecosystem. But there is no perfect way yet to introduce Bitcoin into the DeFi world. DeCus will establish a trustworthy infrastructure to solve this dilemma.

Goals

  • DeCus will build a cross-chain bridge to bring Bitcoin to the Shiden network.
  • DeCus will cooperate with other protocols on Shiden to maximize the value of BTC-pegged tokens launched on the Shiden network.
  • DeCus will add support for other mainstream crypto assets like LTC, DOGE, etc to make them accessible on Shiden.

Team( @{telegram id})

  • sunneverset (CTO, Co-founder, Developer)
    • Writer of the smart contracts
  • Jarvis117 (Developer)
    • Writer of the dapp frontend
  • tiptop163 (Co-founder)
    • Domestic & overseas operations

Builders Program Roadmap

Total Estimated Duration: 5~6 months
Total Grant amount : $60k worth of SDN
Full-Time Equivalent (FTE): 4

For each milestone, we’ll publish the whole source code licensed on GitHub, and other developers will be able to run and test it.

Milestone 1 — Deploy smart contracts in Shiden

Grant amount : $20k worth of SDN
Full-Time Equivalent (FTE): 4

Wrapped Bitcoin, or BTC-pegged token, is an important asset. We will bring wrapped Bitcoin to the DeFi ecosystem in Shiden.

Number Deliverable Specification
1. Smart Contracts DeCus will create smart contracts with Keeper custody and minting pegged-Bitcoin functions.
2. Web Frontend DeCus will create a web frontend that will interact with the smart contracts.
3. EVM dapp DeCus will deploy evm dapps in Shiden, generating warped Bitcioin with real BTC collateralization.

Milestone 2 — Deploy smart contracts on shibuya

Grant amount : $20k worth of SDN
Full-Time Equivalent (FTE): 4

Number Deliverable Specification
1. EVM precompile and contracts DeCus will create an evm precompile with an interface which wraps native Bitcoin to erc20 version Bitcoin.
2. Documentation DeCus will create a runtime module to change erc20 to sdn and vice versa.
3. Safety Testing DeCus will verify the safety of our cross-chain system on the test net.

Milestone 3 — Launch smart contracts in shiden

Grant amount : $20k worth of SDN
Full-Time Equivalent (FTE): 4

Number Deliverable Specification
1. Web Frontend DeCus will create a web frontend that will interact with the smart contracts.
2. Liquidity pairs DeCus will list wrapped Bitcoin in other dapps and integrate with initial liquidity
3. Minting Contracts DeCus will create a contract to mint wrapped Bitcoin after the user staked the original Bitcoin, and vice versa when withdrawing.

Future Plans

  • In the short term, DeCus will focus on the expansion of scenarios, and cooperate with other protocols on Shiden to maximize the value of BTC-pegged tokens launched on the Shiden network.
  • In the long term, DeCus will pay more attention to the diversity of the underlying assets, and add support for other mainstream crypto assets like LTC, DOGE, etc to make them accessible on Shiden.
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We want Bitcoin coming to Shiden!

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Hi DeCus Team! Welcome aboard,

Just ask, by reading your docs here Mechanism - decus.io
When you work with Shiden will it be going to have a new Keeper,or still use the current Keeper?
Many thanks!

DeCus is a fully decentralized cross-chain solution system.
Each chain involves a new set of Keepers.
Our goal is to make BTC great on Shiden again!
Looking forward to our launch on Shiden.

1 Like

Thanks for your reply!

My pleasure .
Please ask everything you want to know about DeCus without hesitation.

@Core @Ambassadors do you guys have any other questions? I will start this poll shortly

Hi guys!

I have looked over the application and I think this fits more in the application track than going with infrastructure. We are more than happy to support this project with dApp staking after creating the first milestones, you can apply for a grant.

Thanks for your attention~ We really need staking support and appreciate it so much.

Application track sounds reasonable for you? You can do dApp staking and earn a basic income.

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Thanks for arranging a meeting! Looking forward to our follow-up call.

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Also looking forward to it~

1 Like