# Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation This site has an agentic ask interface you may use to query the documentation dynamically by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.btc1usd.com/index.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. --- # 🏠 Welcome to BTC1! BTC1 is a new kind of digital dollar — one that’s **backed by Bitcoin**, **built on the blockchain**, and **aligned with faith and fairness**. It’s designed to stay close to $1 while letting you share in the growth of Bitcoin — all without banks, interest, or hidden risks. Website: \ Whitepaper: \ \ Smart Contracts:\ BTC1: \ Vault: Github: (Open Source) # 🌍 Part 1 – Getting Started with Crypto # What is Cryptocurrency? Cryptocurrency is **digital money** that lives on the internet.\ Instead of being printed by banks, it runs on a **public ledger called the blockchain** — like a shared spreadsheet that everyone can see but no one can fake. You can send or receive crypto anywhere in the world, 24/7, without needing a bank. # Why Bitcoin Matters Bitcoin was the first cryptocurrency.\ It’s valuable because: * Only **21 million** will ever exist (scarce). * It works **everywhere**, with no central control. * Every transaction is **transparent** on-chain. * No government or company can **block** your funds. But Bitcoin’s price moves a lot — and that makes everyday use difficult.\ That’s where **stable assets** like BTC1USD come in. # What Is a Stablecoin? Stablecoins are digital currencies that aim to stay around **$1 USD**.\ They make crypto practical for payments, savings, and DeFi apps.\ Most stablecoins depend on **banks or U.S. Treasuries** to hold their value. BTC1USD takes a different path — it’s **anchored to Bitcoin**, not banks. # 💡 Part 2 – Why BTC1 Exists # The Problem * Bitcoin is strong but **too volatile** for daily use. * Stablecoins are steady but **rely on traditional banks**. * Many investors also want **ethical, Riba-free** options. #### # The Solution BTC1 combines the best of all worlds:\ **Bitcoin’s strength + $1 stability + full transparency.** It’s an asset that: * Keeps your funds on-chain, not in banks. * Rewards holders when reserves grow. * Gives a small share to charity each week. * Runs entirely by code — no middlemen. # Our Mission To make digital finance **stable, fair, and faith-aligned.**\ To help everyone benefit from Bitcoin’s potential without interest or speculation. # ⚙️ Part 3 – How BTC1 Works # 1. Backed by Bitcoin Every BTC1 is secured by **at least $1.10 worth of Bitcoin** held in transparent vaults.\ That 10 % cushion keeps it safe when prices move. > Example: Deposit $1.10 in BTC → Mint 1 BTC1 # 2. Minting BTC1 You can mint new BTC1 by locking Bitcoin-based tokens such as **WBTC, cbBTC, or tBTC**. * Minimum backing: 110 % * Mint fee: 1 % (developer) + 0.1 % (charity fund) * Fully permissionless — anyone can mint through the web app. # 3. Redeeming BTC1 You can swap back anytime: * **Normal mode (safe):** 1 BTC1 = $1 of BTC − 0.1 % fee * **Stress mode (after large BTC drops):** You still get BTC, just slightly less, reflecting true vault value. # 4. Weekly “Coupon” Rewards When the vault grows above 112 % safety, holders earn **weekly bonuses** — new BTC1 minted for you. * Rewards arrive **every Friday at 14:00 UTC** * Friday = *Jumuah* = a natural weekly rhythm * Bonuses range from 1 ¢ to 10 ¢ per token, depending on how well the vault performs You don’t have to stake or click anything — just hold BTC1. # 5. The Endowment Fund A small portion of every mint and weekly payout supports verified charities.\ This happens automatically on-chain, so giving is **built in**, not optional. # 6. Developer Ujrah (Service Fee) Developers earn transparent service fees to keep the system running: * 1 % on mints * 0.1 % on redeems * Small bonus during weekly reward events No hidden costs — all visible on-chain. # 💼 Part 4 – Use Cases * A **riba-free savings tool** for individuals. * A **stable currency** for traders and DeFi users. * An **ethical treasury reserve** for Islamic fintechs and DAOs. * A **charity-friendly token** for waqf and zakat projects. # 🛡️ Part 5 – Risk & Transparency # What Can Go Wrong * **Bitcoin volatility:** If BTC crashes, redemptions return less BTC. * **Oracle risk:** Data feeds may fail (we use backups). * **Adoption risk:** Trust grows through audits and transparency. * **Custodian risk:** WBTC/cbBTC use trusted custodians; tBTC is decentralized. #### # Our Safeguards * All transactions are **public and auditable**. * Smart contracts are **open-source**. * Weekly distributions use **Merkle proofs** for full traceability. # 📈 Part 6 – Roadmap * Launch on **Base Sepolia (testnet)** * **Security audit** of smart contracts * Deploy to **Base mainnet** * **Obtain Shariah certification** * Grow liquidity pools and DeFi integrations # ❓ Part 7 – FAQs # Is BTC1 a stablecoin? Not exactly. It’s a *Bitcoin-backed stable asset* that stays close to $1 but reflects real Bitcoin value during market swings. # Is BTC1 halal? ✅ Yes. It follows *mudarabah* (profit-sharing) and *ujrah* (service fee) — no interest, no riba. # How do I earn rewards? Simply hold BTC1. When the system’s reserves rise, you receive weekly “coupon” payouts automatically. # What if Bitcoin drops a lot? Redemption still works; you just get less BTC per token — reflecting honest value. The system never hides losses. # Where can I use BTC1? Anywhere on the **Base network** — wallets, DeFi apps, or exchanges. # How is it different from USDT or USDC? * Backed by Bitcoin, not banks * Pays profit shares, not interest * Fully on-chain and transparent * Gives a portion to charity # ❤️ Part 8 – The Bigger Picture BTC1 is more than a token.\ It’s a bridge between **innovation and ethics** — showing that blockchain can serve both prosperity and purpose. Join us in building a financial system that’s open, honest, and rewarding for everyone.