Our Solution, an Alternative

If the $2 trillion of value of Bitcoin can be unlocked to provide leverage for financialization, we can truly have a viable alternative for a functional independent financial system at scale, and not be reliant on legacy banking infrastructure.

At Pristine.money, our vision is to fulfill the original intent of the Bitcoin whitepaper to create a true, decentralized digital currency for the digital era, by combining Bitcoin’s unmatched decentralization and scarcity as the underlying reserve, with the everyday reliability of stablecoins.

By holding Bitcoin as collateral, our stablecoin combines the resilience and security of Bitcoin with the stability and convenience of traditional assets, offering what we believe to be the most pristine form of digital money. This reserve-backed stablecoin would be the ideal store of value and medium of exchange: a form of money that can operate independent of traditional banking systems, transcending national borders, and also retaining the foundational ethos of sound money.

To unlock Bitcoin from sitting idle on the Bitcoin network, it’s of utmost importance to maintain the security of and minimizing risks from having to bridge Bitcoin to engage in DeFi. Because Bitcoin lacks native support for smart contracts, many alternative wrapped implementation of Bitcoin exist in the ecosystem (like WBTC, cbBTC, BTCB). Wrapped Bitcoin solutions vary significantly in terms of custody, liquidity, and security. Furthermore, the variety of wrapped Bitcoin assets results in liquidity fragmentation. Pristine Protocol aims to consolidate these Bitcoin variations into a comprehensive risk-adjusted and yield-generating solution for Bitcoin holders without dealing with fragmented liquidity or security risks.

Protocol Overview

Pristine Protocol’s main products will be::

• pUSD: Internet native USD stablecoin, over-collateralized by the supported Bitcoin LSTs and wrappers ultimately backed by Bitcoin, the pristine digital asset

• spUSD: high yield staking vault token (ERC-4626) that distributes part of the yields generated from interest charged on minting pUSD plus alternating between the best rates from lending pools earning borrowing fees or delta-neutral, basis trading strategies

Supported Reserve Collaterals

The following Bitcoin collaterals can be used to mint pUSD:

• Native BTC, deposited via our trust-minimized bridge powered by BitVM

• Wrapped Bitcoin: WBTC, solvBTC, cbBTC (Coinbase Wrapped BTC), BTCB (Binance Wrapped BTC), fBTC

• Supported Bitcoin LST: solvBTC.BBN, lBTC (Lombard BTC)

Bitcoin Backed Stablecoin: pUSD

The pUSD ecosystem is made up of USD denominated stablecoin assets, over-collateralized by supported Bitcoin LSTs and wrapped tokens.

pUSD Overview

Using Bitcoin LSTs and wrappers as the input collateral, user can mint the dollar-pegged stablecoin over-collateralized with the Bitcoin collaterals.

pUSD maintains its stability via an over-collateraized CDP (collateraized debt position) system

pUSD is soft-pegged to the US Dollar, economically geared towards maintaining value of 1 $pUSD = $1 USD

spUSD Overview

An ERC4626 staking vault that distributes part of the Pristine.money Protocol yield to stakers denominated pUSD. The spUSD token represents pro rata deposits within the vault and is always withdrawable for pUSD stablecoins at the pro rata rate at all times.

Liquidity Provision Incentives

Pristine ensures sustainability by maintaining liquidity in the market for its tokens (pUSD, PM) through distributing PM as incentives to users who provide liquidity in designated incentivized pools. Rewards accrue for users holding LP tokens from accepted pools