The reserve protocol of Bitcoin
Backed by a treasury of real Bitcoin assets, not a peg.
Bond to grow the reserve. Stake to compound. Participate in the flywheel.
The rules are simple.
The flywheel compounds.
Watch it grow.
Stake
Stake DΦHM and your staked balance compounds each epoch. Rewards are distributed automatically.
The game · (3,3)
Staking aligns holders. Bonding grows the reserve. The treasury and DΦHM compounds. That cooperative game is (3,3).
A simple model of the incentives, not a promise of returns.
everyone up.
The reserve, in numbers.
Backed by a transparent reserve you can verify on-chain, not a fixed $1 peg.
Composition is illustrative, placeholder weights, not live data.
Questions, answered.
DΦHM is a decentralized, treasury-backed reserve currency built natively on Bitcoin via the Alkanes metaprotocol. Each DΦHM is backed by a basket of reserve assets held in the protocol treasury, not pegged to any external protocol.
It represents the protocol’s most cooperative outcome. When participants stake rather than sell, incentives align, the reserve is supported, and the system becomes stronger for everyone.
Bonding means depositing assets (BTC or Alkanes assets) to the treasury for discounted DΦHM that vests over a short period, which grows the reserves. Staking deposits DΦHM to earn auto-compounding rebase rewards each epoch.
DΦHM is supported by a treasury of reserve assets held on Bitcoin. As the treasury grows, the protocol's reserve backing per token can strengthen. Treasury holdings and backing metrics are transparently verifiable on-chain.
Alkanes brings programmable smart contracts to Bitcoin’s UTXO model. Building here means DΦHM is native to Bitcoin, no bridges, no wrapped tokens, and security inherited directly from Bitcoin’s proof-of-work.
No. DΦHM is an experimental DeFi protocol, and the information on this website is provided for educational purposes only. Any figures shown are illustrative and should not be viewed as guarantees of future performance. DeFi participation involves risk, so users should review the protocol carefully and make their own informed decisions.
