Institutional Bitcoin infrastructure with deterministic mining payouts, on-chain reserves, and tokenized hash.
Block-win variance and unclear fees make planning difficult.
• Lumpy payouts & hidden penalties
• Slow/manual reconciliation & reporting
• Limited visibility into pool-side decisions
Capital gets pushed off-chain or into equity/token sales.
• Few fixed-income tools anchored to on-chain signals
• Underwriting lacks programmatic transparency
• Liquidity vanishes in bear cycles
Pools, treasuries, and records live in silos; exits are costly.
• Policy drift & delayed disclosures
• No portable work records between venues
• Brittle distribution rails and lock-in
On-chain reserves in BTC and NAT with policy you can verify.
Decentralized rails for miners: auditable rewards each epoch, zero custody.
Hash, tokenized for miners and markets.
Bring hash on chain so providers can realize liquidity on open markets and users can lock positions for auditable cloud mining access.
Participation requires running a full Bitcoin node and staking One tokens. Staking provides Sybil resistance and prioritization for program rewards; attestations cover uptime and basic health with lightweight, privacy-respecting proofs (no consensus changes). This also unlocks access to other One token utilities touching mining programs, decentralized variable notes, and DAO governance. Rewards are modest and reliability-oriented to broaden the global node set.
Bitcoin native convertible notes that adapt to cashflows, with coverage and cap controls enforced on chain
• Finance growth without selling strategic BTC
• Match duration and cashflow to issuance windows
• Programmatic disclosures improve underwriting and trust
• Issuance caps and coverage ratios
• Cool downs, redemption windows, and queues
• Transparent policy and auditable activity
• Users mint notes directly on chain from their own wallets using Digital Matter Theory primitives
• The variable component references outputs from on chain Bitcoin DeFi adapters that rebalance under policy, with the rate recalculated each epoch
• Redemption is controlled by on chain logic and constraints, including windows, caps, coverage, and cool downs
NAT is a Bitcoin miner subsidy claimable at the coinbase level. It is not merge-mined, requires no additional work, and is not yield-bearing. Miners continue mining Bitcoin normally while being able to claim NAT.
NAT Whitepaper