Money On Chain is a DeFi protocol created for bitcoiners by bitcoiners.
Yes, that is what we always say because we believe that Bitcoin is the best collateral to create a stablecoin.
When the Money On Chain protocol was designed, there was no possibility of developing a model using Smart Contracts nor having Bitcoin as collateral but in a layer 2 solution, and these were enough reasons to build over Rootstock.
In this article, we will look into why DOC and BPRO are an excellent option in your portfolio if you already use Ethereum, Polygon, or other blockchains EVM Compatible with Smart Contracts capabilities.
There are several benefits of using DOC as a stablecoin like minting your own tokens, or having them secure in your wallet, but as Ethereum user or developer you can also consider:
Despite its volatility, Bitcoin is the best collateral because, due to its limited supply, it tends to appreciate with respect to other currencies. Plus is the most secure blockchain, the most decentralized and censorship-resistant network.
Money On Chain’s model takes advantage of these features to build a stablecoin that can keep the peg to the US dollar even in market crashes and bear market situations. For more details read “What if Bitcoin had a flash crash?”
Unlike other stablecoins, the collateral is provided by BPRO holders which have incentives as leverage, percentage of transaction fees, and MOC token rewards.
Money On Chain developed decentralized oracles to serve dApps the bitcoin price data for BTC/USD pair, among other pairs, inside the blockchain. Since this data cannot be directly accessed from the blockchain, external agents, called Oracles, must provide the necessary prices. Having decentralized oracles accessible for any dApp is a great deal because oracles compete with each other to provide the most accurate information and anyone can run a MOC oracle. Here’s an article explaining this subject in detail: MOC Decentralized Oracles.
The bridge with Ethereum makes it easy to send forth and back several tokens to interact with dApps in the other network. You can bring USDT or USDC to rootstock and swap them for DOC to hold a really decentralized stablecoin or for Bitcoin to mint BPRO to seize the leverage and earn MOC tokens. You can also trade bitcoin pairs, earn fees providing liquidity, lending, and even take loans at Sovryn or Tropykus. The most important thing here is that you can choose a better network for any situation at any time.
Another characteristic of Rootstock is being EVM compatible which makes it easy to fork Ethereum dApps and implement them in Rootstock, You can take advantage of a bitcoin sidechain secured by Bitcoin miners through the merged mining. Besides this, the gas paid in Rootstock for transactions is cheaper than Ethereum making it an excellent incentive for users to operate with dApps. You can check RSK Gas Station for further information.
You can go in a very trust-minimized way and without KYC, from Ethereum to Rootstock and back. And while in Rootstock, keep a decentralized stablecoin like DOC to quickly redeem for bitcoin (rBTC), take a loan, or mint a liquidity token like BPRO to enjoy its benefits.
If you want to learn more about Money On Chain, visit our website https://moneyonchain.com/