BITS the Canonical Bitcoin Yield Layer

The Bits Protocol is a decentralized liquid staking solution designed specifically for Bitcoin (BTC) and its wrapped variants (e.g., wBTC). By leveraging the Core Network's Dual Staking mechanism, Bits enables BTC holders to earn yield on their assets without exposing them to slashing risks. This protocol follows a Lido-inspired model, where staked assets generate rewards that are redistributed to holders, maintaining a 1:1 peg with BTC's price. The ecosystem includes the primary rebasing token (BITS), a wrapped version for DeFi integration (wBITS), and a forthcoming protocol token (qBITS). This documentation provides a comprehensive explanation of the protocol's components, mechanics, and user flows.