FAQs

Here are some frequently asked questions about Bitcash and the DAIX stablecoin.

1. What is Bitcash and DAIX?

Bitcash is a platform on the Solana blockchain that provides a decentralized cross-chain stablecoin solution. DAIX is the stablecoin created by Bitcash. It is designed to offer stability and enable the use of assets like ORDI and BTC within the Solana ecosystem. DAIX is the first fully decentralized cross-chain stablecoin built on Solana.

2. How does DAIX maintain its stability?

DAIX maintains its stability through several mechanisms. Its value is backed by a portfolio of collateral assets, initially including wrapped ORDI (wORDI) and BTC, held within the Bitcash smart contract system on Solana. The system uses overcollateralization, meaning the value of the staked collateral is higher than the value of the DAIX minted. Automated protocols monitor the value of the collateral, and liquidation processes are in place to protect the stablecoin's peg in case of significant market downturns.

3. How can I get DAIX?

The primary way to obtain DAIX is by generating it through the Bitcash platform. This process involves staking supported collateral assets. Initially, the main collateral is wORDI, which is the SPL-compatible wrapped version of BRC20 ORDI. By staking wORDI and adhering to the platform's overcollateralization requirements, users can mint new DAIX tokens directly.

4. What is the BTH token and how can I earn it?

BTH is the utility token of the Bitcash platform. It is an SPL token on Solana. Users can earn BTH by participating in DAIX farming. This involves staking your DAIX tokens within the designated farming mechanism on the Bitcash platform. Additionally, users have the option to stake their BTH tokens to potentially increase their earning rate from staking DAIX. BTH also allows holders to share in platform revenues and contribute to setting key system parameters.

5. How does Bitcash enable cross-chain functionality for assets like ORDI and BTC?

Bitcash utilizes a bridge mechanism that allows for the conversion of assets from other blockchains, such as BRC20 ORDI from the Bitcoin network, into wrapped versions compatible with Solana. For example, BRC20 ORDI can be converted into wORDI, an SPL token on Solana. This wORDI can then be used as collateral within the Bitcash system to mint DAIX or used in other DeFi activities on Solana, effectively bridging the asset across chains. Similar mechanisms are used for integrating BTC.