---
title: "Ducat Protocol — Borrow dollar-pegged stablecoins against your Bitcoin without giving up custody."
source: https://listmaro.com/tools/ducat-protocoducat-protocol
description: "Ducat Protocol is a Bitcoin-native credit and stablecoin protocol that allows users to deposit Bitcoin and borrow stablecoins (either UNIT or USDC)…"
updated: 2026-10-04
---

# Ducat Protocol

> Borrow dollar-pegged stablecoins against your Bitcoin without giving up custody.

- **Website:** https://www.ducatprotocol.com/
- **Pricing:** Free
- **Categories:** [Finance & Accounting](https://listmaro.com/categories/finance)
- **Tags:** [loans](https://listmaro.com/tags/loans), [bitcoin](https://listmaro.com/tags/bitcoin), [cryptocurrency](https://listmaro.com/tags/cryptocurrency), [defi](https://listmaro.com/tags/defi), [stablecoins](https://listmaro.com/tags/stablecoins)
- **Upvotes:** 0
- **Listed:** 2026-10-04
- **Last reviewed:** 2026-10-04
- **Last updated:** 2026-10-04
- **Placement:** Editorial listing — not paid for

## About Ducat Protocol

Ducat Protocol is a Bitcoin-native credit and stablecoin protocol that allows users to deposit Bitcoin and borrow stablecoins (either UNIT or USDC) without selling their BTC. This service targets Bitcoin holders who want liquidity while retaining ownership of their assets, leveraging a non-custodial vault system that ensures their funds remain secure and under their control. The protocol eliminates the need for bridges or external chains and operates entirely on the Bitcoin Layer 1 network, ensuring all transactions are verifiable and secure. Users can manage their loans through a dashboard that provides real-time insights into their collateral status and liquidation prices. Ducat's unique feature is a zero-interest borrowing model that charges a one-time 7% minting service fee when new UNIT is issued, making it an attractive alternative for those looking to access cash without triggering capital gains tax events. The protocol emphasizes security, using Taproot vaults and ensuring that users' private keys remain uncompromised throughout the loan process.

## Why it belongs in these categories

- **Finance & Accounting (primary):** It is a Bitcoin-backed lending protocol that lets holders borrow stablecoins against BTC collateral without selling it.

## What Ducat Protocol does

- **Taproot vaults** — Your BTC is locked in a 2-of-2 Taproot multisig where you hold one key and a Guardian MPC network holds the other.
- **Borrow UNIT or USDC** — Borrow UNIT, a dollar-pegged stablecoin on Bitcoin L1, or receive USDC through a 1:1 conversion via Circle.
- **Adjustable collateral ratio** — Set a collateral ratio from 160% to 250% or more and borrow up to 62.5% of the vault's BTC value.
- **Vault dashboard** — Shows your collateral ratio, liquidation price and vault health in real time so you can add BTC or repay before liquidation.

## Who it’s for

Bitcoin holders who want dollar liquidity without selling BTC or handing it to a custodian. The service runs as a closed mainnet alpha and the vendor calls it experimental software. Skip it if you cannot manage liquidation risk or live in one of its excluded regions.

## What it costs

There is no ongoing interest. Ducat charges a one-time 7% minting service charge when UNIT is minted, and vaults that fall below 135% collateral can be liquidated.

## Works with

Circle, Chainlink

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## About this data

List Maro is an early-stage, human-reviewed directory of SaaS products — nothing is published automatically. Numbered category rankings appear only after the published evidence thresholds are met; promoted placements are labelled and kept separate from organic ordering.

- **Canonical page:** https://listmaro.com/tools/ducat-protocoducat-protocol
- **Publisher:** List Maro (https://listmaro.com/)
- **Machine index:** https://listmaro.com/llms.txt
- **JSON API:** https://listmaro.com/api/public/openapi.json
- **Methodology:** https://listmaro.com/methodology