100Layer

100Layer is a Bitcoin liquidity protocol built on OP_CAT covenant capability, running on Bitcoin mainnet and Fractal. It offers two wrapped assets, WBTC and WFB, a decentralized stablecoin backed by on-chain collateral, and wrapped bridge versions of BRC-20, Runes and BRC-100 assets, while running yield farming across CAT20, BRC2.0, Runes and RSM standards. Collateral is over-collateralized into script-constrained positions, the stablecoin is minted against a collateral ratio with prices fed by an oracle, and positions below the threshold are liquidated by script rules; redemption of wrapped assets is likewise bound by covenants rather than a centralized custodian's signature.

Its WBTC design is described as the first decentralized programmable wrapped Bitcoin built on OP_CAT covenants and the first extension protocol for CAT20. Because Bitcoin script lacks general computation, these structures write transfer rules into script constraints, avoiding reliance on an off-chain custodian to maintain redeemability of the wrapped asset.