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description=Pogun is building Bitcoin-backed credit on fixed terms: non-custodial, no price-triggered liquidations, no pooled risk, and direct agreements between lenders and borrowers.;

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Text of the page (random words):
pogun non margin bilateral bitcoin credit skip to content home credit collateral faqs enter market coming soon bitcoin backed credit in development capital without compromise pogun is building bitcoin backed credit on fixed terms non custodial no price triggered liquidations no pooled risk direct agreements between lenders and borrowers join the waitlist how one loan works one agreement four clear steps a lender sets the offer a borrower accepts it before funds move or bitcoin locks the signed agreement then governs repayment or default from published terms to repayment or default 01 lender publish the terms set the asset rate term size repayment and default rules 02 borrower choose the offer review every obligation before accepting or locking bitcoin 03 both fund and lock the loan funds after acceptance price alone cannot liquidate it 04 signed terms follow the agreement paid as agreed repayment returns the same amount of bitcoin to the borrower payment default the lender may claim under the signed rules pogun mirror coming soon bitcoin stays on bitcoin mirror is pogun s bitvm based collateral system designed to lock each loan s bitcoin in its own deposit on the bitcoin network what happens to each deposit separate one loan one locked bitcoin deposit never reused not lent pooled or rehypothecated no price liquidation only signed payment terms trigger default repaid the borrower receives the same amount of bitcoin prototype test 4 aug 2026 two paths tested on bitcoin mainnet a collateral system must block a false withdrawal without trapping a valid one this test exercised both paths false withdrawal blocked by one honest committee member challenged valid withdrawal completed prototype evidence not a finished product bitcoin collateral is not live inspect the public run estimated on chain cost 38 vs 883 pogun both tested paths 38 bitvm2 one published challenge 883 same btc and fee assumptions the tested workloads differ false withdrawal blocked view transaction valid withdrawal completed view transaction test details and assumptions bitvm2 opens in a new tab is a separate published design for settling disputes on bitcoin and is the reference here estimates assume 65 000 btc and 1 sat vb pogun includes both tested paths bitvm2 includes one published challenge so the workloads differ confirmed footprint 36 transactions 58 198 vb 58 234 sat tested branches false withdrawal blocked challenged valid withdrawal completed mainnet record 4 august 2026 blocks 960 975 961 010 prototype setup 3 committee members 5 000 sat deposit test delays published reference bitvm2 one challenge 1 358 889 vb inspect the pogun run opens in a new tab founders meet the founders omer husain co founder ceo phd in technopolitics blockchain and complex transformations former ing blockchain center of excellence advised 50 onchain startups torben poguntke co founder cto a decade in functional safety and industrial control built pogun from inception hans lahe co founder cpo ucl space engineering graduate turned product leader former iog bitcoin defi product lead and repeat founder contributors alessandro andrew antonio briana carlos james krisztian nick nikolaos oleksii and stanly specialists across bitcoin bitvm cryptography engineering and product pogun waitlist join the waitlist borrow lend or operate we ll write when we can offer access join the waitlist one email if we can offer access no newsletter waitlist confirmed step 1 of 3 your role borrow lend both operate skip continue step 2 of 3 assets collateral currency back continue step 3 of 3 size and timing size term timing back finish ready we will be in touch optional note edit done waitlist confirmed you re on the waitlist we ll write when we can offer access add details change email try again frequently asked questions what triggers default and can terms change only signed payment conditions trigger default a price feed sizes collateral once at signing no live price enters default active loan changes can only favor the borrower and closing a desk cannot change a funded loan is bitcoin collateral live and what bitcoin comes back not yet mirror s dispute mechanism ran on mainnet but mirror remains a prototype repayment returns the same amount of bitcoin returning the original on chain deposit currently requires operator participation from setup what did the mainnet test prove two contested branches ran on bitcoin mainnet a false claim was blocked and a challenged valid claim completed together they used 58 198 vb about 95 7 less than bitvm2 s published 1 358 889 vb single challenge bitvm2 is a separate design for settling disputed computation on bitcoin the workloads differ and neither comparison nor test proves production readiness inspect the run opens in a new tab what is a desk and how does a loan start a desk is one lender s published template assets signing ltv term interest duration repayment and limits instant uses prefunded offers request needs lender approval no borrower collateral locks before acceptance can a lender exit before maturity each loan mints a transferable bond token representing lender rights selling it changes the lender not the borrower or terms trading support may arrive separately who operates mirror the design uses kyc verified legal entities under agreement one honest operator can block a fraudulent claim a colluding set can delay a valid exit but cannot redirect it membership is fixed when an instance is created 2026 pogun capital without compromise contact terms conditions privacy analytics choices