Dollar On Chain

DOC Price

About Dollar On Chain (DOC)

Dollar On Chain is a Bitcoin-collateralized stablecoin on the Rootstock network that maintains a 1:1 peg to the US Dollar.

• The asset is backed 100% by Bitcoin, eliminating reliance on traditional bank reserves or centralized fiat collateral.
• It operates through the Money On Chain protocol, utilizing smart contracts on the Rootstock Layer 2 blockchain for trustless issuance and redemption.
• Designed for censorship resistance, the system allows users to mint or redeem tokens permissionlessly using their own Bitcoin wallet.

What Is Dollar On Chain

Dollar On Chain provides price stability within the Bitcoin ecosystem, allowing users to hold a digital asset pegged to the US Dollar without leaving the security of the Bitcoin network. Value moves through the system when users lock Bitcoin (in the form of rBTC) into the Money On Chain protocol to mint DOC tokens.

The token is put to work as a stable unit of account and a medium of exchange for decentralized finance applications built on Rootstock. It scales as the ecosystem grows, with the protocol using smart incentives and a multi-token architecture to maintain stability even during periods of significant Bitcoin price volatility.

What Makes Dollar On Chain Unique

• 100% Bitcoin Collateral: Unlike many other stablecoins that rely on fiat bank accounts or a mix of assets, DOC is backed exclusively by Bitcoin.
• Non-Liquidation Mechanism: The protocol is designed with features to prevent panic sell-offs and forced liquidations during market crashes, using smart incentives to maintain the peg.
• Censorship Resistance: Because it does not rely on the traditional banking system, DOC is resistant to the centralized risks and censorship associated with fiat-backed assets.
• Rootstock Integration: By running on Rootstock, DOC inherits the security of the Bitcoin network while enabling the functionality of smart contracts.

What Can You Use Dollar On Chain for?

Dollar On Chain is pegged to the US Dollar. It serves several primary functions within the decentralized finance landscape:

• Value retention: The asset allows users to hold a digital, on-chain representation of the US Dollar, which may reduce exposure to crypto-market volatility while keeping funds within the Bitcoin ecosystem.
• Yield generation: Users can participate in decentralized lending or liquidity provisioning through platforms like Sovryn and OKU Trade, which support DOC for various yield-generating activities.
• Cross-border settlement / value transfer: DOC provides the capability for international remittances and frictionless cross-border transfer of US Dollar value, leveraging the efficiency of the Rootstock network.
• Collateralization: The token is used as backing for borrowing and lending protocols or as margin for derivatives, allowing users to leverage their stable holdings for further financial activities.

How Does Dollar On Chain Work?

Dollar On Chain operates on Rootstock, an EVM-compatible Bitcoin sidechain that provides a platform for smart contracts. The system uses a dual-token model within the Money On Chain protocol: DOC provides stability, while another token, BPro, absorbs Bitcoin's volatility to provide leverage for Bitcoin holders.

When a user wants to mint DOC, they lock rBTC into a smart contract, a self-executing agreement with the terms directly written into code. The protocol then issues the corresponding amount of DOC tokens. This process is fully non-custodial, meaning the user maintains control over their funds through their private keys. Transactional costs for interacting with the protocol are paid as protocol service fees, rather than network gas, which is handled by the underlying blockchain's native asset.

Team Info and Investors

Dollar On Chain was developed by the Money On Chain team, a group focused on creating decentralized financial tools for the Bitcoin community. The project is designed with a decentralized governance structure where the MOC token is used to participate in protocol decisions. While the project has established a presence in the Rootstock ecosystem and partnerships with platforms like Sovryn, the source material does not specify details regarding individual founders or specific early-stage investment rounds.

Where can you buy Dollar On Chain?

DOC tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade Dollar On Chain is Sushiswap V3 (Rootstock), where the most active trading pair USDT0/DOC has a trading volume of $3,526.96 in the last 24 hours. Other popular options include Sovryn DEX (Rootstock) and Oku Trade (Rootstock).

What is the daily trading volume of Dollar On Chain (DOC)?

The trading volume of Dollar On Chain (DOC) is $21,894.55 in the last 24 hours, representing a 304.00% increase from one day ago and signalling a recent rise in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for Dollar On Chain (DOC)?

Dollar On Chain (DOC) reached an all-time high of $1.07 and an all-time low of $0.9435. It’s now trading -6.50% below that peak and 6.20% above its lowest price.

What is the market cap of Dollar On Chain (DOC)?

Market capitalization of Dollar On Chain (DOC) is $3,535,762 and is ranked #1840 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of DOC tokens (3.5 Million tokens are tradable on the market today).

What is the fully diluted valuation of Dollar On Chain (DOC)?

The fully diluted valuation (FDV) of Dollar On Chain (DOC) is $3,535,762. This is a statistical representation of the maximum market cap, assuming total number of 3.5 Million ETH tokens are in circulation today.

How does the price performance of Dollar On Chain compare against its peers?

With a price increase of 0.50% in the last 7 days, Dollar On Chain (DOC) is underperforming the global cryptocurrency market which is up 5.80%, while outperforming when compared to similar Stablecoins cryptocurrencies which are down -0.50%.