Open protocol · 100% Bitcoin-backed

pixdollar and pixreal.
Bitcoin-backed stablecoins.

A provider locks Bitcoin, the protocol protects its value with a hedge and issues the tokens. You hold, transfer and redeem anytime — no bank, no central issuer, no freeze.

Join the waitlist Read the whitepaper
2
assets: pixreal + pixdollar
6
native Bitcoin networks
0
fiat inside the protocol
Bitcoin as collateral
1 Provider locks BTC in the protocol
2 Hedge freezes the dollar value
3 Mints pixreal / pixdollar and sells
4 You redeem for BTC whenever you want
The problem

The real loses value. Pix leaves a trail. Today's stablecoins go back to trusting a bank.

The real depreciates

Anyone holding cash in BRL loses purchasing power every year. There's real demand for dollarization and for a Bitcoin reserve.

Pix is traceable and freezable

Instant, but it ties every operation to a tax ID and is subject to the MED — a precautionary freeze of up to 90 days. Great payment rail, terrible collateral.

Custodial stablecoins

The dominant models are backed by fiat in a bank and issued by a single company. They reintroduce an issuer, a bank and censorship.

How it works

Lock BTC → protect the value → mint → sell.

The protocol never touches fiat. Pix happens only on the P2P leg, between provider and buyer — off-chain, where it has to live.

Lock Bitcoin 1

Provider locks Bitcoin

Deposits BTC into the protocol. The collateral is locked Bitcoin, verifiable on-chain — not a real sitting in a bank.

Delta-neutral hedge 2

Hedge protects the value

The protocol opens a matched short on a perp DEX. BTC volatility is neutralized and the value stays stable in dollars.

Mint and redeem 3

Mint, sell and redeem

Mints pixreal/pixdollar against the protected value. Any holder can burn the token and withdraw BTC back — always.

How it compares

Today's real stablecoins decentralize the movement. pixbitcoin decentralizes the collateral.

DePix, BRL1, BRLA, cREAL — the dominant Brazilian models are backed by fiat in a bank and issued by a single company. That reintroduces an issuer, a bank and a censorship surface, and locks the token to a single network.

PointReal stablecoins todaypixbitcoin
Collateral Real in a bank — a digital deposit certificate Locked Bitcoin, verifiable on-chain
Issuance Single issuer per token — centralized mint and redeem Open network of providers, no monopoly
Reserve Opaque — "trust that the real is in the bank" Public collateral; solvency is an equation, not a promise
Network Locked to one network; federations can freeze assets Native across several Bitcoin networks, no single point
Fiat leg (MED) A freezable bank account concentrates the risk Protocol never touches fiat; MED is the provider's
+1 BTC − 1 short = 0
Holding BTC and shorting BTC cancel out. The combined value, in dollars, barely moves — Bitcoin can go to $200k or $20k.

Delta-neutral over over-collateralized Bitcoin

The protocol always holds more Bitcoin than the value issued — a safety cushion. And it neutralizes volatility with an equal-sized short on a perp DEX.

While funding is favorable, the hedge earns yield instead of costing. It's the same engine Ethena used to turn crypto volatility into a stable synthetic dollar.

Redemption + hedge = a credible peg. Redemption creates the anchor; the hedge and the buffer make sure it holds under pressure. We swap "trust the bank" for an equation verifiable on-chain.

The assets

Two stable tokens, one same Bitcoin collateral.

Clean case · live first

pixdollar

1 pixdollar ≈ $1

Perp DEXs are denominated in dollars. Shorting BTC/USD neutralizes Bitcoin against the dollar directly — the canonical application of the delta-neutral model. A digital dollar without opening an account at a foreign broker.

Managed FX

pixreal

1 pixreal ≈ R$1

Stable in reais, with the residual USD/BRL FX risk absorbed by the over-collateralized buffer and the reserve fund — evolving into a full FX hedge once there's a liquid venue. Handled in the open, not hidden in a footnote.

Native across every Bitcoin network

The same asset, always in the network's native standard.

You never see a wrapped token. On Lightning it buys a coffee; on Liquid it moves with privacy; on a rollup it enters DeFi.

Bitcoin L1Taproot Assets · store of value
LightningTaproot Assets · instant payments
LiquidLiquid asset · privacy, P2P
RootstockERC-20 · circulation + issuance hub
CitreazkEVM · circulation + issuance hub
StacksSIP-010 · alternative hub
The wallet

Balance, send, receive, convert. That's it.

A non-custodial wallet — web, mobile and desktop — for all three assets: bitcoin, pixreal and pixdollar. The everyday user doesn't need to know what "delta-neutral" or "Taproot Asset" means.

Hold
Send
Receive
Convert
Non-custodial
your keys, your balance
Redeem for BTC
anytime
Hi, Satoshi
Your wallet
S
Total balance
$ 29,480.00
$
pixdollar
synthetic USD
$ 12,500
≈ $1.00
R$
pixreal
synthetic BRL
R$ 68,900
≈ R$1.00
Bitcoin
0.148 BTC
$ 13,300
+2.4%
Under development

Join the waitlist

The new Bitcoin-backed stablecoin is still being built. Drop your email and we'll ping you at launch — no spam.