I like the proposal. Both projects are working hard to build out Defi on BTC and seem to compliment each other well. Helping to raise the profile of a BTC backed stable coin in DOC that has already proved its robustness in a crash is a good thing for the whole BTC Defi ecosystem.
I don’t necessarily think the MOC price will take off quite like SOV did as it’s already trading now and they are being issued every day at the moment to Bpro holders. I do see this as helping get MOC into more hands further decentralising the project which again is a good thing.
Great proposal Nico. My support for this initiative. I think it’s great that there is the opportunity for Bitcoiners to use the only stablecoin collateralized with Bitcoin to borrow and lend, and trade.
Using a stablecoin collateralized with fiat when you can use a collateralized by bitcoin, it is nonsense for a Bitcoiner. I think it will also be very useful to deepen the knowledge of the DoC and BPro in the Sovryn community.
Regarding the BPro, it is a no brainer to take a loan in DoC leaving your BPro as collateral!
Spent some time navigating around MOC platform and realized that currently there is only rBTC->DOC available for folks to buy DOC. Any chance that there will be a rUSDT->DOC swap that is 1:1 peg? I believe this is key to get people from ETH world into the Bitcoin world given that USDT is so commonly used in Defi. Focus will be to make it as frictionless an experience as it could be. My 2 sats. Thanks!
In Sovryn, you can swap rUSDT->DOC but the slippage is too big for one to swallow. For instance, I tried to swap 1000 rUSDT and got back 995.25 DOC…
they have a token exchange with orderbook so they can do it if they want. the question is who is going to take USDT, a shady stablecoin with “some” fiat as collateral in exchange for a rock solid overcolateralized and bitcoin backed stacle coin? just get some rbtc and mint the tokens yourselfe
Precisely, USDT is a shady coin and that explains why I want to have a 1:1 swap to DOC since both belongs to the “stablecoin” category. To me, rBTC is precious that I wouldn’t want to swap it for anything, unless necessary.
For instance, I tried to swap 1000 rUSDT and got back 995.25 DOC…