BIMA and Bracket Unite to Enhance Bitcoin-backed Stablecoins

BIMA Partners with Bracket for Real-Yield Vaults

BIMA has recently announced its collaboration with Bracket to launch an innovative suite of vaults specifically designed for their Bitcoin-backed stablecoin, USBD. This partnership is a significant development within the DeFi landscape, aiming to enhance yield strategies for Bitcoin holders.

Seamless Integration for Users

This collaboration allows BIMA users to effortlessly access on-chain yield strategies without stepping outside the Bitcoin ecosystem. The backend infrastructure provided by Bracket ensures that users benefit from a secure and policy-managed environment, enabling BIMA to concentrate on boosting the liquidity and utility of USBD across various chains.

Capital Efficiency of USBD

USBD is not just another stablecoin; it is a capital-efficient token over-collateralized by Bitcoin derivatives. With unique features that set it apart from traditional stablecoins like USDC or USDT, USBD offers investors the flexibility to choose various yield strategies depending on their risk preferences. Users can either deposit Bitcoin or stake BTC, receiving liquid staking tokens in return, which are essential for USBD's issuance.

Reliable Infrastructure by Bracket

The robust infrastructure provided by Bracket is the backbone for these scalable yield vaults. Utilizing smart contracts and securely managed wallets, the platform maintains high standards in transparency with verified NAV reporting and top-level accounting practices that cater to institutional needs. It successfully connects premium funds and on-chain capital utilizing prevalent assets like ETH, BTC, and other stablecoins.

A Vision for Secure Yield Opportunities

According to Sid Sridhar, Founder and CEO of BIMA, this partnership marks a vital step in their mission to offer better solutions for Bitcoin holders. He expressed enthusiasm about the new real-yield opportunities made accessible through Bracket without requiring users to liquidate their Bitcoin holdings.

Expanding Yield Access for Bitcoin Holders

Mike Wasyl, co-founder of Bracket, also shared his excitement over helping BIMA create top-tier yield opportunities. He emphasized the necessity of reliable on-chain access to yield for the Bitcoin community. Through this partnership, they are blending the exceptional architecture of BIMA's Bitcoin-native stablecoin with Bracket's proven technology, making real-yield options readily available for USBD holders.

Recent Developments in BIMA's Journey

This announcement follows BIMA's successful launch of its mainnet, opening avenues for both retail and institutional investors to explore institution-grade yield strategies without needing to sell their BTC. Being U.S.-based and operational, BIMA is poised to support users with a comprehensive security infrastructure, featuring over-collateralization safeguards alongside a stability pool that efficiently manages under-collateralized positions.

Integration with Major Wallets

Users can conveniently mint USBD through a straightforward five-step process. BIMA is also integrating with major wallets such as Ledger, MetaMask, and XVerse, enhancing user accessibility and operational efficiency.

Get Involved with BIMA

Investors and users interested in this exciting new venture can find more information and access BIMA's live mainnet at their official website.

Frequently Asked Questions

What is the significance of BIMA's partnership with Bracket?

This partnership aims to enhance yield strategies for Bitcoin holders through innovative vault solutions for the USBD stablecoin.

How does USBD differ from traditional stablecoins?

USBD is a Bitcoin-backed stablecoin that is over-collateralized and provides diverse yield strategies, offering flexibility to investors.

What security measures does BIMA implement?

BIMA features comprehensive security measures, including over-collateralization and a stability pool to manage risks effectively.

Can I access BIMA through popular wallets?

Yes, BIMA integrates with major wallets such as Ledger, MetaMask, and XVerse for user convenience.

How can users mint USBD?

Users can mint USBD via a simple five-step process on BIMA's platform, making it accessible for all interested investors.

About The Author

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