Live on Base

The new standard
for hard assets

1 BTC = 1,000,000 $BTCD. Always. $BTCD and $ETHD are the spending-grade denominations of Bitcoin and Ethereum.

Secured by immutable smart contracts. No admin keys. No one controls the vault.

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Mint Fee

Free forever

0.01%

Redeem Fee

DAO revenue

100%

Collateral

Never utilized

None

Liquidation

Zero risk

Immutable

Contracts

No admin keys

Safety is the protocol

Every part of Denom is designed around one principle: your assets are safe. The minting contract, the redemption contract, and the vault that holds your collateral are all immutable — deployed once, controlled by no one.

Immutable contracts

The mint, redeem, and vault contracts cannot be modified, paused, or upgraded by anyone. Code is law.

No admin keys

There are no owner functions, no multisig overrides, and no backdoors. Nobody can access your collateral.

Fully verifiable

All contracts are verified on-chain. Anyone can audit the code and confirm the collateral balance at any time.

Zero liquidation

You are re-denominating, not borrowing. There is no health factor, no margin call, and no liquidation engine.

No oracle dependency

Fixed ratios mean no price feeds to manipulate. No oracle risk, no stale prices, no external dependencies.

Collateral never utilized

Your cbBTC and WETH sit untouched in the vault. Not lent, not staked, not rehypothecated. Ever.

Smart Contract Architecture

Immutable by design, not by promise

Most DeFi protocols ship with admin keys, upgrade proxies, and multisig overrides. They ask you to trust a team. Denom is different. The three core contracts — mint, redeem, and vault — are deployed as immutable, non-upgradeable code. Once deployed, no one can change them. Not the team, not a DAO vote, not a court order.

This means your collateral is protected by math, not by trust. The vault contract that holds your cbBTC and WETH has no owner function, no pause mechanism, and no way to extract funds except through the redeem function that only the token holder can call.

We believe this is the only way to build a protocol that can outlast any team, any company, and any jurisdiction. The contracts will keep running as long as the blockchain exists.

Mint Contract

Immutable

Admin keysNone

Upgrade proxyNone

Pause functionNone

Fee0%

Redeem Contract

Immutable

Admin keysNone

Upgrade proxyNone

Fee0.01%

Withdrawal cap1,000 BTC / 10,000 ETH per 24h

Vault Contract

Immutable

Owner functionNone

Fund extractionOnly via redeem by token holder

Collateral utilization0%

Verified on-chainYes — fully auditable

Denominations

Fixed-ratio tokens backed 1:1 by collateral in an immutable vault

Mint now

$BTCD

Bitcoin Denomination

Active

Fixed ratio1 BTC = 1,000,000 $BTCD

CollateralcbBTC only

VaultImmutable contract

Mint $BTCD

$ETHD

Ethereum Denomination

Active

Fixed ratio1 ETH = 10,000 $ETHD

CollateralWETH (auto-wrap from ETH)

VaultImmutable contract

Mint $ETHD

How it works

Four steps. No intermediaries. Everything on-chain.

Deposit

Send cbBTC or ETH to the immutable Denom vault on Base

Mint

Receive Denom tokens at the fixed ratio — 0% fee

Use

Send, trade, lend, or spend your Denoms anywhere

Redeem

Burn Denoms to reclaim collateral from the vault (0.01% fee)

DeFi can't be DeFi with centralized money

The blockchain ecosystem is built on the promise of decentralization. But the most widely used tokens in DeFi — USDT and USDC — are controlled by centralized companies that can freeze accounts, comply with government seizure orders, and fail if their banking partners collapse. This is the biggest stumbling block for blockchain growth.

Risk

USDT / USDC

$BTCD / $ETHD

Account freezing

Tether and Circle can freeze any address at any time

Impossible — immutable contracts, no admin functions

Government seizure

Subject to court orders and regulatory compliance

No entity to serve. No keys to compel. Code is law.

Bank failure

Reserves held in banks — SVB collapse proved the risk

Backed by BTC and ETH on-chain. No bank dependency.

Depegging

Algorithmic or reserve failures can break the peg

No peg. Fixed ratio to the underlying asset. Always.

Censorship

Centralized issuers can blacklist wallets

Permissionless. No blacklists. No KYC at protocol level.

Counterparty risk

Trust Tether/Circle to hold real reserves

Trust math. Collateral verifiable on-chain in real time.

A note on cbBTC

We use cbBTC (Coinbase Wrapped BTC) as collateral today because it is the most liquid and accessible BTC on EVM chains. We acknowledge that cbBTC is issued by Coinbase — a centralized entity. This is a temporary compromise.

When a more decentralized and safer BTC wrapper becomes available on EVM and other chains, we will deploy a new version of the $BTCD vault for users to migrate to. Our goal is to be a 100% decentralized and censorship-free protocol.

The mint, redeem, and vault contracts themselves are already immutable and permissionless. The path to full decentralization is about the collateral layer — and we are committed to getting there.