Skip to content

🖼️ Product Overview

Surge is a Bitcoin-native credit market powered by taproot-based UTXOs, where every credit line is a dedicated UTXO with two signers: the Bitcoiner and a Decentralised Custody Network (DCN).

How it Works

Today, each Bitcoiner uses the Surge mobile app to access the Surge Credit Markets. In the app they send BTC to a unique dVault, a Taproot-based, programmable vault. This vault enforces three deterministic spending paths:

  1. Voluntary Repayment: If no credit is drawn, or once the borrower repays, they can withdraw BTC directly, without signer network intervention.
  2. Liquidation:
  • If the credit line’s health drops below a predefined threshold, the DCN will sign a liquidation transaction, only when validated by multiple external oracle attestations.
  • If the credit line is not paid off or rolled over at the end of term, the DCN can sign a liquidation transaction. BTC will be sold to cover debt + interest and the remainder returned.
  1. Transfer: Bitcoiners may transfer loans to and from Surge's credit market. This requires signatures from the Bitcoiner, DCN, and a third party credit provider.
  2. Time-Locked Recovery: If the system becomes unresponsive or the DCN goes offline, the BTC becomes spendable by the borrower after a pre-set time lock.

This ensures that funds are always:

  • Non-custodial – borrower shares control with the DCN
  • Verifiably on-chain – visible and auditable at all times
  • Decentralized – DCN is distributed with multiple parties and economically aligned

Once the BTC is locked, stablecoin liquidity is released from the Ethereum-based smart contract (USDC supported, USDT coming soon), sent directly to the borrower's self custodied wallet. The smart contracts implement multiple markets where Bitcoiners can tap liquidity, and LPs earn yield, with infrastructure ensuring safety and execution. The different markets can offer both variable (floating) and fixed-rate markets.

Overview

Overview

Interface Suite

Surge has three core interfaces, each designed for a key participant:

  • Bitcoiners: Access the credit market via Surge’s mobile app (iOS, Android; PWA coming soon) or via distribution partners who white label Surge's permissionless Credit Market. No paperwork, just verifiable BTC and stablecoin access in less than 30 minutes.
  • Liquidity Providers: Contribute stablecoins into markets, earn yield from variable and/or fixed-rate markets, and optionally run signer nodes in our DCN to protect the rules based system.
  • Distributed Custody Network Members: Access technical data, audit trails, oracle feeds, system status, and open-source repos via surge.build, our transparency hub.

Surge is built ground-up for trust-minimized credit and no one can touch their Bitcoin without following predefined, public rules.