yakaliman

OPNet DAO — Bitcoin-native governance. Propose, vote, and execute protocol decisions directly on Bitcoin L1 via OPNet smart contracts. No bridges, no sidechains. Just Bitcoin.

A fully decentralized exchange on Bitcoin — constant-product AMM, OP_20 liquidity pools, and a swap router, all compiled to WebAssembly and settled on Bitcoin L1 via Tapscript-encoded calldata.

The protocol enables two types of participants to interact with a shared liquidity pool on Bitcoin: Lenders can deposit OP_20 tokens (e.g., a WBTC-like token) into the protocol to earn interest. They can withdraw their principal plus accrued interest at any time. Borrowers can lock collateral tokens into the protocol and borrow loan tokens against that collateral. They must maintain a collateral ratio of at least 150%, and repay their debt (principal + interest) to reclaim their collateral. Liquidators can repay an undercollateralized borrower's debt (when the collateral ratio drops below 120%) and receive the borrower's collateral plus a 5% bonus as a reward.