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Granite 소개
Granite is a Bitcoin liquidity protocol on Stacks. Borrowers deposit BTC as collateral and draw stablecoin loans, and that collateral is never re-lent to other users, so the pooled risk created by rehypothecation does not arise. Loans work like lines of credit with no fixed term or repayment schedule: as long as an adequate loan-to-value ratio is maintained, the position is not liquidated.
Liquidation is gradual. When the ratio falls below the threshold, liquidators repay only the portion of debt needed to restore solvency and receive an equivalent slice of collateral plus a small reward, so a whole position is not closed at once. BTC enters the protocol as sBTC, which Stacks validators manage through a threshold signature script and which maps one-to-one to native bitcoin. Liquidity providers supply the stablecoin pool and earn the interest borrowers pay.
On July 29, 2026 Granite was added to the Borrow on Bitcoin rate index with a 1.65% variable borrow APR, the lowest tracked there, while its TVL had fallen from about $26 million to a $7.5–12 million range. The protocol has completed multiple audits, runs an Immunefi bug bounty and rebuilt its core application flows in mid-2026.
Granite is pursuing USDCx markets built with Circle, position staking, repaying loans directly with collateral and carefully designed Bitcoin leverage in 2026, while keeping isolated markets, soft liquidations and no rehypothecation.