We're immensely proud to announce that @Ducatstable has integrated the @chainlink Runtime Environment (CRE) to power the first Bitcoin-native oracle.
A decentralised financial product needs a decentralised oracle solution. Ducat now stands as the first and only Bitcoin-native protocol to run its oracle natively on L1.
Most protocols claim to be non-custodial while running in-house oracles, creating a major trust assumption and resulting in full control of the true governing function: price.
If we want to appeal to Bitcoiners and build non-custodial finance on L1 then these trust assumptions are unacceptable.
At Ducat we strive to be as decentralised as possible and when we say non-custodial, we mean it. This partnership entrusts our oracle functionality to the industry-standard oracle platform: Chainlink
Chainlink has consistently driven decentralisation standards, from launching its decentralised oracle network in 2019 to introducing privacy tech like its recently announced Chainlink Confidential Compute.
Until now, that innovation has lived mostly in EVM ecosystems. This brings Chainlink's proven oracle platform to Bitcoin, extending its mission of open, verifiable finance to the world's most decentralised network.
For Ducat, this is yet another example of how we push Bitcoin harder and further than any protocol before us.
There is a massive opportunity to build primitives such as vaults, loans, stablecoins, and liquidations on Bitcoin L1 and Chainlink will now forever be a part of Bitcoin's DeFi history with Ducat.
Just Chainlink and Bitcoin script giving the world verifiable, decentralised, permissionless credit on L1.
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