BadgerDAO has released the "Purple Paper" on the eBTC protocol, which introduces censorship-resistant synthetic Bitcoin to DeFi.

BlockBeats reported on July 26th that BadgerDAO, a decentralized autonomous organization focused on bringing Bitcoin into DeFi, released the "Purple Paper" for its eBTC protocol, launching a censorship-resistant DeFi synthetic Bitcoin. Users can borrow eBTC with 0% interest, repayment fees, and activation fees using Lido's stETH, designed to provide users with an efficient and cost-effective way to access assets. The eBTC protocol generates revenue by obtaining a certain proportion of the collateral income from the total system collateral, known as the "protocol revenue share", to ensure the system's solvency. To ensure the solvency of the system, the eBTC protocol adopts a liquidation mechanism, meaning that if the collateral debt ratio falls below the minimum of 110%, the debt position is eligible for liquidation. If the debt position is not liquidated but the collateral ratio drops below 103%, the protocol considers it under-collateralized and implements debt redistribution.