GVNR Diamond Hands

CDP

GVNR Diamond Hands lets users borrow against native Bitcoin without wrapping or bridging, minting UCD, an overcollateralised Bitcoin-backed dollar on Ethereum. Each borrower creates their own Lit Protocol PKP, which owns and controls a dedicated Bitcoin L1 loan vault address. The borrower retains sole ownership and control of the PKP and vault while the loan is healthy. GVNR has no control over or claim on the vault or its BTC unless the position falls below the liquidation threshold. At that point an authorised liquidator repays the UCD debt and receives ownership of the PKP, and with it control of the vault and its BTC.