Charms has now made a super simple UX to send bitcoin to Cardano from ANY wallet. 🟠➡️🔵 Enter your Cardano address. Send BTC to the provided Bitcoin address. Done. Yesterday I sent BTC from my personal wallet straight to Lace as eBTC. Give it a try! 👇

Here's my 4-minute pitch for @CharmsDev - Bitcoin's Universal App Protocol - during Draper's @BTCFiNetwork program. 🟠💎 Program apps and assets on the Bitcoin network, written in mainstream languages, that are interoperable with both Web3 and TradFi. Watch. 📺👇

Here's a great example of a practical Charms app that makes bitcoin better money. @CharmsPay_ is a system for bitcoin-based subscription plans. Merchants can create a subscription plan directly on-chain, and users can subscribe to those plans using taproot wallets, paying their way in BTC directly. Subscription plans can come in all shapes and sizes: revenue for a SaaS platform, content creators wanting token-gated access, game devs implementing premium features, and so on. The underlying architecture is the same: - The author creates the plan and defines its rules inside an NFT - A subscriber locks BTC in a Scrolls vault from which BTC is periodically deducted to stay subscribed. - The subscriber receives fungible plan tokens for their BTC payments, which are burned or deducted as they're consumed by the service. The creator, Ridwan Oseni, is first honing in on a core use case: bitcoin-based payroll services. I personally love this idea. While Bitcoin is too slow and expensive for most consumer payments, payroll/salary payments are typically delivered in large monthly batches, making it viable for an L1 subscription system. Contractors and employees who use bitcoin as a store of value appreciate receiving direct BTC payments. Likewise, businesses that keep their balance sheets in BTC appreciate being able to pay in BTC without first converting to fiat. An open platform for creating Bitcoin-based payroll plans, without stressful KYC onboarding, is a no-brainer in my view. I have to love the tech here too, because it combines multiple elements of the charms stack to make something truly unique: NFTs, subscription tokens, and Scrolls vaults. When this thing goes live, I'd use it. You can view the GitHub below! 👇 🔗

Charms opens up a special new design space for bitcoin-backed stablecoins. The zkUSD app, built by @Ande_Labs, demonstrates just that. His app lets you lock real BTC as collateral, directly on Bitcoin, and borrow zkUSD synthetic dollars against it. zkUSD is a charm - also living on Bitcoin itself. Minting zkUSD opens up an over-collateralized debt position against the holder's BTC, responsive to bitcoin's current market price. Tokens must be overcollateralized at minting time, and are always redeemable at USD face value for collateralized BTC in the app vault. When redemptions take place, the riskiest borrower positions get liquidated first. Positions are also auto-liquidated if bitcoin's price falls, and their collateral-debt ratio falls below 110%. This makes borrowing zkUSD an extra risky affair, even compared to other bitcoin margin solutions. But It's also more rewarding: zkUSD borrowers pay ZERO interest, and only pay a 1% origination fee for loans. Charms makes this all the more special because it's truly bitcoin-native. Theoretically, zkUSD could trade on a Bitcoin native DEX like CAST as well, interacting with the nascent Bitcoin DeFi eco that Charms awakens. The app is still very early testnet stages, but you can have a look here at the interface and GitHub below. 🔗 🔗

This week has been incredible for Bitcoin and Cardano. 🟠🤝🔵 Draper's @OrionFund wants to invest at this very intersection. We cover it tomorrow on X Spaces with @samizb, @SundialProtocol, and @FluidTokens, including Charms, eBTC, and "Enchanted UTXO" 💎 UTXBROS ASSEMBLE✊