Charms

Bitcoin and Cardano are now united by Charms. 🟠🤝🔵 We sent eBTC and BRO to Cardano. We sent ADA, SNEK, and USDM to Bitcoin. We unlocked cross-compatible Rust+WASM dapps for both chains. The Universal App Protocol for UTXO, powered by zkVM.💎 Megathread; w/ receipts 🧵👇

Happy 250th Birthday America! 🇺🇸

"Beaming" is a tool for teleporting charms from one chain to another.💎🖖 The asset is destroyed on Bitcoin and re-materialized on Cardano, with a zero-knowledge proof tying the actions together. 🟠🧬🔵 Read more about beaming in our docs: 🔗docs.charms.dev/concepts/beami…

Scrolls are distributed custodians and signers, powered by @dfinity, that can control how bitcoin (and other tokens) move according to customizable, on-chain Charms programs. That makes any DeFi app possible on Bitcoin. Read more in our new docs: 🔗docs.charms.dev/concepts/scrol…

Charms v15 is now live. 💎 We have introduced a new charms tag: 's' for Scrolls - Bitcoin outputs provably locked to programmable custody w/ Charms. We have also introduced versioned apps, allowing Bitcoin builders to upgrade smart contract apps over time. Read more: 🔗github.com/CharmsDev/char…

Our Alchemy Treasury Proposal is now live!☀️ Alchemy is the first Bitcoin treasury protocol that reimagines Strategy’s digital credit model as a blockchain-native BTCFi app and asset pair on Cardano. Thanks to all of the community for the feedback we received on our initial announcement. We have taken all of this into account to adjust and perfect our ideas. Make sure to read the proposal below, and we will be happy to answer any questions👇 #0" target="_blank" rel="nofollow noopener">gov.tools/governance_act…

Most smart money looks at Bitcoin and sees a store of value. I think that framing ages badly, and the teams building right now are why. A generation of founders is building the lending, payments, insurance, credit, privacy, and programmability layers that turn BTC from a passive holding into capital that works.

I genuinely believe Cardano NEEDS this. Deep collaboration, innovative tech, transparent on-chain Bitcoin infrastructure + liquidity. Let's change the game! 🔵🤝🟠 Encourage your Drep to vote YES for Alchemy and to build the growth infrastructure Bitcoin needs here on Cardano

The proposal is live. 🟠🤝🔵 Alchemy by Sundial x Charms: Cardano-Native Bitcoin Treasury Protocol. Support our effort to grant Cardano its first killer Bitcoin app. 👇 🔗#0" target="_blank" rel="nofollow noopener">gov.tools/connected/gove…

Bitcoin's 200-week moving average has not fallen for over ten years. Volatile in the short term, but always growing in the long term against debasing fiat. Zoom out.

Alchemy requires... A smart contract BTC vault. 🟠 Programmable assets (FIRE + ICE) minted against that vault🔥🧊 Asset compatibility with Cardano DeFi 🔵 Charms is the stack including all three. 💎

How much demand is there for Alchemy? 💎 Let's look at the precedents. MSTR (amplified BTC): $41.8 billion Babylon (BTC yield): $3.5 billion STRC: (stabilized BTC) $10.4 billion APYX + Saturn (on-chain STRC): $750M The money is out there. Alchemy taps all of it.

Let's take another look at our latest product, Alchemy✨ Bitcoin has become the world's leading digital asset, but it still presents a challenge: for long-term holders, it isn't productive. Alchemy, in partnership with @CharmsDev, is designed to solve this by transforming a shared BTC reserve into two complementary assets tailored to different risk profiles. 🔥 FIRE (BTC+) - High-temperature Bitcoin FIRE concentrates Bitcoin's volatility into a single asset. As BTC appreciates, FIRE holders capture amplified upside. In return, FIRE absorbs downside volatility first during market declines. The result is a BTC-backed asset designed for users seeking greater exposure to Bitcoin's long-term growth potential. 🧊 ICE (BTC-) - Low-temperature Bitcoin ICE takes the opposite approach. By filtering out much of Bitcoin's short-term volatility, ICE provides more predictable, USD-denominated growth while remaining backed by the same underlying BTC reserve. The relationship between FIRE and ICE is what makes Alchemy unique. FIRE holders provide the volatility buffer that supports ICE's stability, while ICE holders enable FIRE's amplified exposure. The model draws inspiration from the growing demand for Bitcoin-backed credit products seen in traditional markets, but reimagines them as a transparent, blockchain-native system. Instead of relying on corporate issuers and intermediaries, FIRE and ICE are created through protocol rules and direct BTC redemption. The broader idea is simple: Not every Bitcoin holder wants the same thing - some want productivity, and some want predictability. Alchemy makes both possible from the same Bitcoin reserve.

Trouble understanding Alchemy? Use the simulator. 🔗sundialprotocol.com/alchemy/visual… Watch how FIRE and ICE react to changes in bitcoin's price and the reserve ratio. BTC moves -> FIRE moves more; ICE stays frozen One bitcoin reserve, two financial temperatures.🔥🧊

GM Cardano, To understand how Alchemy will ignite Bitcoin DeFi in your ecosystem, you must see how the economics of FIRE (BTC+) and ICE (BTC-) actually work. Think of Alchemy like the first onchain, bitcoin-backed bank. FIRE holders are like the equity holders in the bank, while ICE holders are like customers with a savings account. Observe the simulator below. Both assets are minted with BTC, and backed by the same BTC reserve, but their value reacts to bitcoin's price changes in vastly different ways that appeal to different investor profiles. FIRE is amplified exposure. When BTC moves, the FIRE price moves with it, and then some. It's even more volatile than BTC in the short term, with potential for even greater gains than BTC in the long term as the asset keeps appreciating. ICE is the opposite. It provides gradual growth in USD - less than BTC's long-term growth rate (starting around ~9.5% to 10% APR estimated). In return, holders don't need to sweat the volatility: ICE holders' exposure doesn't change whether the price goes up or down. The assets are complementary. FIRE minters provide the downside buffer for risk-averse ICE holders. ICE holders provide the amplified upside for risk-tolerant FIRE holders. In a sentence: Alchemy *strips* bitcoin's excess volatility and risk away from ICE , and concentrates it into FIRE. This is the same economic structure that Strategy is using to take the securities market by storm. MSTR ($42 billion) is an amplified bitcoin. STRC ($10.4 billion) is a stabilized bitcoin. Both are insanely popular. Why? Because not every investor wants or needs the same thing. Some want their BTC to be *productive.* Others want their BTC to be *predictable.* With Alchemy, bitcoin users can finally have both. And they can use it on Cardano. 🟠🤝🔵

Read our proposal: 🔗@SundialProtocol/sundial-x-charms-proposal-building-the-first-bitcoin-treasury-protocol-for-cardano-e437c964c3b6" target="_blank" rel="nofollow noopener">medium.com/@SundialProtoc…

FIRE makes bitcoin productive. 🔥 ICE makes bitcoin predictable. 🧊 Transform your BTC with Alchemy. Use it on Cardano. 🟠🤝🔵

Hey Cardano DReps - we made it as easy as possible for you to learn about Alchemy and our treasury proposal 🟠🤝🔵 - Discover @SundialProtocol and @CharmsDev - See the insane opportunity and market precedent for Bitcoin structured products - Simulate returns on FIRE (BTC+) and ICE (BTC-) Beautiful work from @sde_laney!

I believe Cardano can turn around for the better. All it really needs is one killer app, built on Bitcoin. That's what Alchemy, powered by @CharmsDev and @SundialProtocol, is meant to be - and why we're making a Cardano treasury proposal to bootstrap the project. This is the *first* blockchain-native take on Strategy's Bitcoin Treasury model: the one that produced the MSTR and STRC equities that are the biggest stories in crypto today. You must understand the demand. MSTR is worth $42 billion, and trades $2.6B per day. STRC is worth $10.4 billion and trades $386 million per day at just 11 months old! Strategy has discovered Bitcoin's killer financial product, and yet *nobody* has created the transparent, always-on, and permissionless version. That is our opportunity. Cardano can finally be the first to bring this killer app to DeFi, attracting an unprecedented wave of TVL and demand to its ecosystem and projects within the year. Want proof? Adjacent products - tokenized STRC-backed stablecoins (Apyx, Saturn) - have already drawn over $750m in TVL on other chains, and have only been live for under 5 months. Meanwhile, the vast majority of these assets are trading in adjacent DeFi products like Pendl and Morpho, and are the dominant assets on those protocols, proving how they bring insane activity to the surrounding ecosystem. When you have the right product, adoption can happen almost overnight. A new wave of opportunity in DeFi is emerging - "digital credit" - and Cardano must not miss it again. We welcome all DReps to provide feedback on our proposal before we submit it on-chain. Anyone who has questions about Alchemy, do not hesitate to ask me!

Charms proudly supports @SundialProtocol as a core technical partner in its proposal to bootstrap Alchemy: a first-of-its-kind Bitcoin Treasury Protocol and killer BTCfi application for Cardano. Review and feedback from DReps are welcome. Read about the proposal below. 👇 @SundialProtocol/sundial-x-charms-proposal-building-the-first-bitcoin-treasury-protocol-for-cardano-e437c964c3b6" target="_blank" rel="nofollow noopener">medium.com/@SundialProtoc…

☀️ Sundial is proud to partner with @CharmsDev on our newest initiative: Alchemy - a new Cardano-native Bitcoin Treasury and liquidity system. Alchemy is designed to bring proven Bitcoin-backed structured product demand on-chain, positioning Cardano at the forefront of one of BTCfi’s fastest-growing categories. Alongside this announcement, Sundial and @CharmsDev will soon be releasing a Cardano treasury proposal to help bring this vision to life. We welcome feedback from the community before the proposal goes live. More information coming soon. Link to Article: medium.com/p/e437c964c3b6