Since the launch of the Strudel protocol, we have seen the price peg of vBTC deviate from the price of BTC in both directions. The elastic supply that was meant to be created through trades in the power pool broke down after the first week, as arbitrage bots interfered with its operations. Since then the supply of vBTC is not elastic, and hence the price can not be stable.

We are proposing Seigniorage Shares, a concept introduced by Robert Sams in this paper, to link the supply of $TRDL and vBTC and reestablish an elastic supply.

Perpetual Auctions

A perpetual auction contract…

After a turbulent launch weekend, we are back to give an update on the development fund and the team behind this project. To enable the continued development of the Strudel protocol 5.56% (to be precise: 17 / 306) of all minted $TRDL tokens go into the development fund. At the time being these funds go to a timelock contract, controlled by a multisig wallet.

The Strudel protocol Dev Fund

35% of the dev fund are available immediately and will be used for operational costs, such as the relayer, servers, code audit, bug bounties, and the wider community.

15% of the fund will go towards $TRDL…

The Strudel protocol is taking a step towards community governance by partnering with Deora’s governance rollup solutions enable secure, on-chain execution without the need to pay gas for each vote.

Collecting votes on a rollup

Until now, governance parameters and contract upgrades have been in the hand of the multi-sig signers. A delay of 24h and 7 days respectively before governance actions go into effect has been the only safety for protocol users.

Starting this Friday, Strudel users will be able to lock their $TRDL token to receive voting power over future protocol changes. When locked, the tokens will be transferred into a dedicated…

Farming rewards with a high issuance of new coins and static schedules have proven to produce negative effects on protocols, like in the case of SushiSwap. A high issuance of new coins is often accompanied by strong selling pressure on the token. Even if these profits are reinvested into the farms, the token price dwindles over time, and farmers are potentially left with a loss.

At strudel, we have started off with a small issuance of only 1 $TRDL per block, and a rather low bonus multiplier of only 4x for the first month. …

New delicious Sushi on the Menu

Strudel’s vBTC has been voted by the community to be among the most delicious Sushi of the Week. You can now earn SUSHI by staking your vBTC-tBTC pair.

Trustless bridges unite!

vBTC and tBTC are fighting against the counterparty risk of trusted Bitcoin bridges. With Sushi’s new pair it is now possible to easily swap and use the pair as a liquidity bridge between trustless protocols.

Stake and Earn Rewards

By putting liquidity into the Sushi vBTC-tBTC pool you not only strengthen the two protocols but you can also earn Sushi by staking the LP token in the 🍣 Sushi Menu of the Week, starting this evening…

Current State

At the time being we are distributing $TRDL farming rewards by the following metric:

- vBTC power pool: 50%
- $TRDL/ETH pool: 30%
- vBTC spot pool: 5%
- renBTC/ETH pool: 5%
- tBTC/ETH pool: 5%
- wBTC/ETH pool: 5%

The objective of farming rewards is to bootstrap the project and stabilize the peg of vBTC.

Problems with the current strategy

Incentivizing liquidity in the ETH pools of tokenized Bitcoin projects does not create a benefit for the Strudel Protocol as these pools do not help with the price stability of the vBTC token.


Therefore we will remove farming rewards for the renBTC/ETH pool, the…

The Strudel Protocol is not only a trustless bridge, migrating BTC permanently onto the Ethereum chain, it is also a bet on market dominance. In this article we will explain core concepts leading to $TRDL success when Ethereum overtakes Bitcoin as the biggest cryptocurrency.

The Power Pool

The Strudel Power Pool is a balancer smart pool with the ability to programmatically shift weights of its staked assets, ETH and vBTC. Weighted pools allow to maintain the price of an asset, even when one of the assets is less available than the other. By increasing the weight of vBTC the Power Pool is able…

Connecting foreign blockchain assets to Ethereum requires a light-client following the consensus algorithm of the other chain. In the case of BTC it entails the relay and verification of all Bitcoin block headers in an Ethereum smart contract. Once the canonical chain is determined transaction inclusion proofs can be used to prove deposits or burns without trust in any intermediaries.

The tBTC project by Keep Network and Strudel.Finance alike use a Relay contract deployed at 0x1531b6e3d51bf80f634957df81a990b92da4b15. A relayer service was initially operated by tBTC to feed the contract, providing vital functionality to both bridges. At Ethereum block 11030571 (at 10.50…

Today: Price pegs of tokenized BTC are maintained by arbitrage between trusted bridges.

vBTC and the Strudel Protocol is about trusting crypto-economic incentives without middlemen. It is the next logical step towards a trustless bridge of Bitcoin to Ethereum.

The Importance of Crossing Trustless

There is systemic risk in the ecosystem! Trusted bridge solutions like $REN and $WBTC lock BTC in insecure multisig setups (<8 signers). They raise concerns of total value collapse causing harm to protocols and pools locking these assets. Strudel is here to help. vBTC has a fully auditable supply and no risk of compromise. …

In order to make your exploration through the Strudel as secure as possible — read these instructions on how to enter first.

Mint vBTC

  1. To start of, simply connect the Dapp with your wallet. We support Meta Mask and WalletConnect.
  2. Put the desired amount of vBTC, that you want to mint, in the interface. Check your vBTC and the estimated $TRDL rewards you gain. The Strudel contract strictly mints BTC to vBTC at a ratio of 1:1. Tor early explorers, the $TRDL rewards are distributed at a quadratic rate — so be quick.
  3. Once you continue you can see an individual QR…

Strudel Finance 🌪

Get your Bitcoin out of the void into the Strudel. ✨ Earn $vBTC and collect your $TRDL rewards on Ethereum. 🌊

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