Templar, billed as the first Cypher Lending Protocol, went live on mainnet, enabling bitcoin holders to borrow U.S. dollar–pegged stablecoins against native BTC without relying on banks, exchanges, or centralized intermediaries.
Templar Launches Mainnet, Offering Permissionless Bitcoin-Backed Lending Without Trusted Third Parties
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The protocol uses MPC (multi-party computation) and immutable, non-upgradable smart contracts to prevent freezing, seizure, or rehypothecation of collateral, and requires no wrapping, bridging, or KYC. Templar is permissionless—anyone can open markets or vaults and borrow directly from a wallet—and is open-source with a privacy-first design that plans to add differential privacy and zero-knowledge features. Chain-agnostic from launch, the platform supports native Bitcoin, Ethereum, and NEAR assets and allows borrowers to receive stablecoins on different chains. Templar positions itself as a cypherpunk alternative for borrowers who want onchain liquidity while retaining full control over their crypto.
