Quick answers to common questions you may have
What is Bit Protocol?
What is BitUSD?
Why should I use it?
Do I need an account?
Which networks are supported?
Is BitUSD always worth $1?
Is this custodial?
How do I mint BitUSD?
How much collateral do I need?
What's a safe CR%?
How do I repay?
Can I add more collateral later?
Can I borrow more later?
What fees do I pay?
Is there interest?
Minimum/maximum borrow?
Gas fees too high?
What is liquidation?
How do I avoid liquidation?
What happens during liquidation?
What if oracles fail or markets move fast?
Smart-contract risk?
Can the team freeze my funds?
Where can I use BitUSD?
How do I redeem for collateral?
Can I bridge BitUSD?
How do I earn yield safely?
What collateral is supported?
What sets the minimum CR%?
What's the mint fee vs. interest?
How are prices sourced?
What's the Stability Pool / Backstop? (If applicable)
Peg mechanisms—how is $1 targeted?
What happens in extreme volatility?
Can parameters change?
How do upgrades/deploys happen?
Which wallets can I use?
Best safety tips?
How do I set alerts?
I approved a bad site—what now?
Transaction failed. What do I do?
UI shows an error.
Price looks off.
Can't repay or withdraw.
Is the code audited?
Is there a bug bounty?
How do I see protocol health?
Who runs this?
Any KYC or geo limits?
Taxes?
How does Bit Protocol ensure decentralization?
How can I list collaterals?
Can we limit collateral types on my chain?
How does Bit Protocol ensure accurate collateral valuation?
Is collateral selection permissionless or governance-controlled?
What criteria determine LTV ratios?
How do you handle permissioned vs. permissionless RWA collateral?
What happens if a collateral type is fully redeemed?
How does Version 2 improve peg stability?
Did Bit protocol pass Audits?
How does the liquidation engine differ from Liquity v1?
How does Bit Protocol prioritize chains in its multi-chain deployment roadmap?
How can existing Protocols integrate with Bit Protocol?
Is external risk assessment considered for collateral approval?
How do local vs. global governance tokens function?
Will Bit Protocol adopt veTokenomics or MakerDAO-style buybacks for token utility?
How are governance token holders incentivized to participate in risk management?
What composability features exist for RWAs?
How do you mitigate admin hacks or collateral theft?
What yield opportunities exist for bitUSD holders?
How do you price illiquid assets?
What's the role of governance in collateral selection?
How does liquidation work?
Can Bit Protocol adapt to networks with limited oracle support?
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Bit Protocol is a decentralized, open-source, self-executing smart contract system. The long-term goal is for the protocol to be fully governed by its users and DAO. BITUSD INC., as a core developer, does not control user assets, provide financial or investment advice, or guarantee outcomes. The use of the protocol is entirely at your own risk.