Strudel DAO links Bitcoin (BTC), Bitcoin Cash (BCH) and other centralized assets to the expanding DeFi landscape. Through the Strudel Token (TRDL) Governance Token, Strudel enables the use of BTC, BCH and other assets across the Ethereum and Polygon ecosystems to take advantage of liquidity mining, arbitrage, lending, collateral and more.
How does Strudel DAO work?
By eliminating the need for custodial control of assets, the Strudel protocol trades counterparty risk for market risk. It uses market dynamics, crypto-economic incentives and cross-chain capabilities to support a tethered, scalable and capital-efficient ecosystem. This one-of-a-kind economic approach offers both casual users and large investors multiple opportunities for money supply growth and provides greater diversity and security for DeFi.
Why should you trust this project:
| 1 | The Strudel protocol requires no collateral to guarantee the security of assets, transferred over the bridge. For this reason, the protocol may incentivize the provision of liquidity to maintain the peg in the long term. |
| 2 | vBTC can actually wrap a significant amount of BTC. As more BTC passes through the bridge, the value of the system will strengthen and the assets will move closer to the fixed price. |
| 3 | vBTC and $TRDL are ready to be transferred to other chains, opening BTC as collateral in the entire cross-chain. |
The first engine for Strudel, Strudel Bitcoin (vBTC), is minted at a 1:1 ratio. vBTC can also be exchanged like any other token on Ethereum. Also, it can be sold and pooled on Polygon (Matic).
The second Strudel engine, Strudel Bitcoin Cash (vBCH), is minted at a 1:1 ratio when Bitcoin Cash (BCH) is connected via the Strudel protocol to Binance Smart Chain (BSC). This L2 solution provides significantly improved gas fees for obtaining Bridge Tokens, as well as Strudel Token (TRDL) incentives for early adopters.
TRDL token
The Strudel Token (TRDL or $TRDL) serves as the governance token for the Strudel protocol. Also acts as an incentive to use Strudel bridges and provide liquidity. In addition, TRDL can also be combined into various economic incentive protocols, including Strudel's Terra-Farms. This allows users to increase profits. As Strudel continues to expand the cross-chain, TRDL is available on Ethereum, Polygon and Binance Smart Chain with plans to increase utility and liquidity in the near future.