> For the complete documentation index, see [llms.txt](https://docs.btcd.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.btcd.fi/token-overviews-1/btcd.md).

# BTCD

**Bitcoin Dollar (BTCD)** is a **fully-collateralized token**, offering 50% of Bitcoin volatility.

It maintains a 50 % BTC / 50 % USD collateral basket—rebalanced daily—and channels idle capital into yield strategies across both decentralized and centralized venues.

Designed to be used as a savings account, BTCD behaves differently from a traditional savings account or simply holding spot BTC. 

Please review the full Risk Disclosures before using the protocol.

### Purpose

The Bitcoin Dollar (BTCD) protocol enables the creation and redemption of a delta-neutral synthetic dollar fully backed on-chain by Bitcoin and other approved assets. 

Through daily-rebalanced hedging, BTCD delivers half the volatility of spot BTC while providing a scalable, censorship-resistant medium of exchange. 

sBTCD represents staked BTCD and accrues sustainable yield from both hedging spreads and liquid-staking rewards.

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