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The Ducat Protocol is a platform that governs the Unit, a Bitcoin-backed stablecoin native to the Bitcoin L1. It allows users to borrow Unit using their Bitcoin as collateral. The platform emphasizes non-custodial control of funds, risk-based borrowing, and flexible risk preferences. Users can set their collateralization ratio based on their risk preference, borrow Unit against their vaulted Bitcoin collateral, and use the borrowed Unit within the Bitcoin financial ecosystem. Repayment of the vault unlocks and allows withdrawal of the Bitcoin collateral. The platform also provides tools for users to manage their risk and track their leverage over time. Key Features: 1. Bitcoin-Backed Stablecoin: Unit is the first Bitcoin-L1-native decentralized stablecoin, collateralized by Bitcoin. 2. Borrowing and Repayment: Users can borrow Unit using their Bitcoin as collateral and repay their vault to unlock and withdraw their Bitcoin collateral. 3. Risk Management: Users can set their collateralization ratio based on their risk preference, allowing for flexible risk management. 4. Real-Time Price Updates: The platform provides real-time Bitcoin price updates to help users track their leverage over time. 5. Liquidation Mechanism: When a vault's collateralization level falls below a certain threshold, the protocol sells the vault to the first user willing to recapitalize the Bitcoin deficit, allowing for self-sustaining borrowing and liquidation mechanisms. 6. Non-Custodial Control: Users have full control of their funds and can mint or redeem their Bitcoin from a vault as long as their Unit loan has sufficient collateral. 7. Liquidator Incentives: Users can earn yield as a vault liquidator by recapitalizing a distressed vault, contributing to the stability of the platform. 8. Security and Transparency: The platform leverages Bitcoin's Layer 1 for security, decentralization, and resilience. It also provides a comprehensive dashboard for secure monitoring, borrowing, and asset management. 9. Testimonials and Community Support: The platform has received positive feedback and support from the crypto community, as evidenced by testimonials and social media mentions. 10. FAQs and Community Engagement: The platform offers a FAQ section and encourages users to connect with them in their Discord community for further assistance and information. Overall, the Ducat Protocol aims to provide a decentralized and secure platform for borrowing and using a Bitcoin-backed stablecoin, with a focus on risk management, transparency, and community engagement. Users should conduct their own research and due diligence before engaging with any financial platform or protocol, especially in the rapidly evolving and high-risk cryptocurrency space."

• Bitcoin-Backed Stablecoin, Borrowing and Repayment, Risk Management, Real-Time Price Updates, Liquidation Mechanism, Non-Custodial Control, Liquidator Incentives, Security and Transparency, Testimonials and Community Support, FAQs and Community Engagement