BTC Tez (Trading Symbol: BTCtz) is a Bitcoin-pegged stablecoin that runs on the Tezos blockchain to the FA 1.2 token standard (the Tezos community-adopted token standard), for the fastest lowest cost swaps.
What is BTC Tez (BTCtz) - BTC Tez is a stable-coin that is pegged to the value of Bitcoin (price of 1.0 BTCtz = price of 1.0 BTC), and is built from the ground-up on the Tezos blockchain.
For what is BTC Tez used? - BTC Tez is used by traders to intermittantly close their XTZ positions (i.e. to 'short' XTZ) in terms of BTC, without having to suffer both the monetary costs and speed costs of 'going off-chain' just to do it — since Bitcoin is on its own separate blockchain but BTC Tez runs on the Tezos blockchain
How is BTC Tez different than USD Tez? - Many traders close their positions in terms of USD-value coins, and many traders close their positions in BTC. Having both options avaiilable on an exchagne helps to accomodate more traders.
How do I buy BTC Tez? - Follow this website for updates on our exchange partnerships.
When will BTC Tez launch? - Mid-2020
How is BTC Tez collateralized? - BTC Tez uses the same collateralization model and graduated process of USD Tez, which has been expanded to be the "StableTez" model. The difference between the USD Tez collateralization model and the BTC Tez collateralization model is that Silos 1 and 3, will use Bitcoin itself since that is hard collateral in it's core form.
BTCtz supply will never be more than the amount of collateral it has in its Silo 1.