Introduction

Welcome to Pristine

Internet native money, backed by Bitcoin

Introduction

Pristine is a new DeFi primitive that enables users to mint pUSD, a USD-denominated stablecoin fully backed by Bitcoin, collateralizing native BTC or supported Bitcoin Liquid Staking Tokens (LSTs) and Bitcoin-wrapped assets. Pristine uses a Collateralized Debt Position (CDP) model powered by Curve Finance's advanced liquidation system that preserves price upside exposure to Bitcoin collateral, by soft-liquidating to stablecoin during price volatility and buy back BTC when price goes back up —unlike traditional CDPs that rely on direct liquidations permanently losing Bitcoin exposure (e.g. Maker/Sky) or synthetic dollars with no exposure to collateral upside (Ethena).

The stablecoin will be deeply integrated with various DeFi ecosystems, including being incentivized on Curve, to create a flywheel where users can receive trading fees, token rewards, CRV, on top of the Bitcoin staking rewards from the collaterals.

Focusing on advanced collateral management, deep integration with various DeFi mechanisms, and an utmost commitment to security and decentralization, Pristine aims to unlock the full potential of Bitcoin in DeFi and liberate the ~$2 trillion idle Bitcoin asset value.