---
title: "Bitcoin USD (BtcUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/btcusd-btcfi/"
description: "Build-time stablecoin profile for Bitcoin USD (BtcUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Bitcoin USD (BtcUSD)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

BtcUSD is BTCfi's {{term:overcollateralization}}overcollateralized{{/term}} USD stablecoin minted from BTC variants (WBTC, BTCB, cbBTC, native BTC) via Liquity-style {{term:cdp}}CDP{{/term}} vaults. BtcUSD is backed 100% by overcollateralized Bitcoin in various wrapped forms — WBTC, BTCB, cbBTC, and native BTC — with alt-LST collateral quality classification reflecting the {{term:custody}}custody{{/term}} chains each wrapper adds. The peg score of 64 and over 1,000 depeg events including one that hit nearly 1,400 basis points make it one of the most frequently depegged CDPs per unit of market cap, though the DEWS Calm band at 15 suggests current conditions are stable. Deployed on Base and Bifrost with no modeled {{term:redemption}}redemption{{/term}} backstop, the exit routes are limited to secondary market trading on chains the broader DeFi market doesn't heavily visit. The question remains whether BTC holders will trust yet another wrapping layer when established CDPs already accept wrapped Bitcoin with better liquidity and peg infrastructure.

## Collateral

Overcollateralized Bitcoin (WBTC, BTCB, cbBTC, native BTC) via CDP vaults

## Peg Mechanism

Overcollateralized CDP with liquidation mechanisms

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| base | `0xe4b20925d9e9a62f1e492e15a81dc0de62804dd4` | 18 |
| bifrost | `0x6906ccda405926fc3f04240187dd4fad5df6d555` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/btcusd-btcfi.