Safety Deposit ₿ox

Tyron's SU$D stablecoin management occurs within user-owned safety deposit boxes (SD₿s). These smart accounts securely hold the collateral and serve as the hub for stablecoin minting, burning, and liquidation transactions.

SD₿s autonomously track user balances in a permissionless and trustless manner and are native to Bitcoin. Each SD₿ has its own Layer-1 address, allowing users to monitor their SD₿ holdings at any time using their preferred Bitcoin block explorer. This native integration with Bitcoin ensures seamless interaction with the Bitcoin ecosystem.

For more detailed design information, refer to Bitcoin-Native Assets.

Oracles

To ensure the stability of the stablecoin, Syron relies on accurate data sourced from multiple off-chain data points managed by the ICP's Exchange Rate Canister. Additionally, on-chain data from decentralized exchanges and DeFi applications can contribute to price discovery. Safety deposit boxes could efficiently access this on-chain data at the time of the transaction, guaranteeing that the information used for stablecoin operations is up-to-date and reliable.