Do more with your Bitcoin

The Bitcoin whitepaper proposed a peer‑to‑peer electronic cash system designed to build a more resilient financial world. The very first block referenced bank bailouts, signalling a challenge to the old order. Over time, however, the network's limited throughput and the growth of custodial exchanges turned BTC into a passive store of value, digital gold instead of the productive medium envisioned at its birth.

Uncap exists because this story isn't finished. Starknet's scalable rollup architecture combined with upcoming improvements such as BitVM and OP_CAT, offer a credible path to bring trust‑minimised Bitcoin (and eventually trustless Bitcoin) into decentralized finance. Uncap is building on Starknet because it is the most committed L2 to this vision: the network supports Bitcoin staking, pushes BTCFi initiatives, and is actively researching how to make Bitcoin usable across its ecosystem. We believe Starknet is where BTCFi will flourish.

Why Uncap and USDU

To unlock BTCFi, the ecosystem needs a stablecoin that is truly decentralized, over‑collateralized by Bitcoin and governed by market forces rather than committees.

Uncap's USDU meets this need. Inspired by Liquity V2, USDU allows borrowers to choose their own interest rates and adjust them over time. The market determines borrowing costs and redemption risk, fostering competitive rates without relying on centralized control.

What's live at launch

The Uncap protocol goes live together with this announcement. Starting today, WBTC holders can mint USDU and immediately put their capital to work:

• Mint USDU. Deposit wrapped BTC into a collateralised debt position and choose your borrowing rate. A detailed guide on how to mint is available on the Uncap website.
• Earn in the Stability Pool. Deposit USDU into the Stability Pool to absorb liquidations and earn yield from interest revenue. Rewards are live from the moment the protocol launches.
• Provide liquidity on Ekubo. USDU/USDC pools on Ekubo offer a way to earn swap fees while supporting USDU's liquidity. Details on selected pools will follow.

The protocol is non‑custodial and censorship‑resistant. Your BTC remains in your possession until you repay your debt, and liquidations and redemptions are executed entirely on‑chain. The cost of borrowing is determined by the interest rate you select, and any redemption or liquidation fees follow the Liquity V2 model with proceeds flowing transparently to Stability Pools and liquidity providers.

Why Starknet

Uncap chose Starknet because of its scalability and its vision for BTCFi. Starknet's high throughput and low fees make stablecoin minting and trading affordable. More importantly, the network is actively investing in bringing Bitcoin on‑chain through research into OP_CAT, BitVM and other primitives. This long‑term commitment, coupled with a significant STRK incentive programme, provides the environment USDU needs to thrive and gives Bitcoin holders a path to participate in DeFi.

Do More With Your Bitcoin

Uncap is built on the conviction that Bitcoin can return to its original mission. By enabling BTC‑backed borrowing at user‑driven, competitive rates, and by launching on a network with a clear path to trust‑minimised Bitcoin, Uncap is helping to turn Bitcoin from a dormant asset into the backbone of a new financial system.

Visit uncap.finance to mint USDU, join the Stability Pool, or provide liquidity.

Check out the detailed guide to get started.

Bitcoin was meant to be peer‑to‑peer cash. Uncap invites you to be part of the next chapter, a BTCFi future where you can do more with your Bitcoin.