e‑IOU
A digital commodity on Bitcoin mainchain that secures the Bitcredit Network. It is not a coin: the coin for end users is Bitcoin. It secures the mint layer and does nothing to e‑cash beyond ensuring exit into bitcoin at all times.
Collateral on top of full backing, not instead of it
Every bitcredit issued is 100% backed by bitcoin and bitcoin-denominated e‑bills. e‑IOU sits above that as an extra layer of collateral. Wildcat mints must hold it as verifiable proof that their e‑cash production is absolutely secure. It is a risk buffer that bridges the recourse time gap until recovery on a dishonoured e‑bill.
e‑IOU is not a coin: the coin for end users is bitcoin. It is a digital commodity that secures the mint layer, and it does not affect users of Bitcoin e‑cash other than ensuring their exit into bitcoin at all times.
The market value of e‑IOU crystallises the expected progress of the network: the more world trade moves onto Bitcoin rails, the more wildcat mints; more wildcats means more demand, a higher price, and a better capitalised, more secure network.
02 / WHAT IT DOES
Special Guarantee Asset
Overcollateralisation above the 100% bitcoin backing. That verifiable asset, plus the cascading nature of the mint network, keeps on-chain payment of e‑bills mandatory at all times.
MintsFunding contributors
When minting e‑bills into e‑cash, wildcats must send a small percentage of e‑IOU to the DAO. The quarterly issuance rewards developers, software laboratories, and educators teaching Bitcoin for business.
ContributeDAO decision making
Holders set protocol policy, approve proposals, and vote on strategic decisions. No central authority, no gatekeepers.
DAOA BRC-20 token anchored to Bitcoin’s security
Supply is issued quarterly, declining 4.2% each quarter to mirror Bitcoin’s four-year halving cycle, and is fixed at a maximum of 1 billion tokens over 120 years. New tokens are distributed through decentralised governance: any holder can propose changes to the distribution and vote on awards. BRC‑20 is what works on mainchain today; RGB is the candidate for the production upgrade, with Taproot Assets, Runes and CBRC‑20 also under review.
04 / GETTING STARTED
Hold, sell, or dedicate it
Recipients are free to hold for future upside, sell on exchanges or OTC, or dedicate their e‑IOU to the capital of a freely chosen mint.
Exposure to the network, and a vote on it
Exposure to protocol growth
As more wildcat mints join the network and more trade flows through Bitcredit rails, demand for e‑IOU rises: every mint locks it as extra cover on top of the mandatory backing. Growth in trade volume is growth in e‑IOU demand.
A voice and vote on strategic decisions
Holders decide how the protocol evolves: propose changes to the distribution, vote on awards, and set strategic direction. Voting weight follows holdings, and the DAO settles it quarter by quarter.
Fix the money, fix the world.
The Bitcredit community cares about sound money, free trade, and a free world. We teach people to use Bitcoin in the real economy, and we want to end a fiat system that keeps most people, and entire nations, poor.