About Circuit
Circuit Protocol is a decentralized stablecoin platform on Chia blockchain, built by a team with deep experience in crypto infrastructure and finance.
Team
Sebastjan Trepca
CTO & Co-founder
Former Engineering Manager at Chia Network, Co-founder of Lyst. A seasoned engineering and product leader with nearly two decades of experience building scalable products reaching over 200 million users.
@trepca
Nic Niedermowwe
CEO & Co-founder
Investor at K32 Ventures, CEO of Prime Factor Capital, Oxford PhD. Deep expertise in finance, crypto markets, and institutional investment.
@NicNiedermowweUse & Trade BYC
Bytecash (BYC) is a USD-pegged stablecoin you can trade on Chia DEXes, bridge to Base, or spend on real-world services.
Dexie.space
Trade BYC/XCH on Chia's order book DEX
TibetSwap
Swap BYC/XCH on Chia's AMM DEX
warp.green Bridge
Bridge BYC from Chia to Base (Ethereum L2)
Silicon.net
Use BYC to buy GPU compute
Tokenization in the Chia Ecosystem
How CircuitDAO enables borrowing BYC against XCH via CDPs, its integration with Silicon.net for tokenized GPU NFTs and AI compute, and the loop of borrowing, investing in RWAs, and generating passive income — all on Chia's proof-of-space ecosystem.
Security & Audits
Circuit spent a full year focused exclusively on security before mainnet launch — 6 months of internal auditing where the team paused all feature development to hunt for exploits and vulnerabilities, followed by 6 months of external reviews through a triple-layer process: a private firm audit, an invite-only bug bounty, and a public audit competition. Over 20 confirmed issues were identified and fixed.
Why Chia's coinset model matters
Unlike EVM-based protocols where contracts hold shared mutable state, Chia's coinset model means each coin is an independent, immutable object that can only be spent once. There's no shared state to corrupt, no reentrancy attacks, and no storage slot collisions. Every state transition is explicit and atomic — making the protocol inherently more auditable and resistant to entire classes of vulnerabilities that plague EVM DeFi.
Zellic — Private Audit
Jan 6 – Feb 13, 2025
Full code review by 2 dedicated security engineers (Nipun Gupta, Daniel Lu) over 5 weeks (~320–400 man-hours). Covered core protocol security including Treasury ring correctness and Oracle voting. 16 total findings identified and resolved.
Read full audit reportImmunefi — Invite-Only Bug Bounty
Apr 9 – May 8, 2025
Invite-only program with 2 guaranteed security researchers. Uncovered critical vulnerabilities in BYC coin issuance validation, announcer registry inflation, and financial penalty nullification — all fixed before the next review stage.
View on ImmunefiCantina — Public Audit Competition
May 19 – Jun 16, 2025
Open public competition covering ~6,750 lines of Chialisp code. Hundreds of security researchers submitted 774 findings. Top researcher Yakuhito (FireAcademy) identified 3 critical vulnerabilities in Chialisp coin spend and puzzle enforcement logic, all remediated before mainnet.
View on CantinaCantina — Live Bug Bounty
Active since Nov 5, 2025
Ongoing security program covering core Chialisp smart contracts. 58 findings submitted so far. This is the hardening phase — low-hanging fruit was already picked during the pre-launch audits, so researchers are now probing for deeper, more complex exploits.
Press & Media
Videos
CircuitDAO | Community Spotlight
Founder interview on CDP, beta, and audits
Audit Results and the RWA Connection
V1 launch, audit findings, and real-world asset potential
CircuitDAO deep dive
Technical workshop on architecture & auctions
Circuit DAO: The Collateralized Stablecoin on Chia
FoMO interview on economics & governance
Chia: A blockchain for creatives, world banks and degens
BananaConf Tallinn 2024 panel
Articles
Peer-to-Peer: An Interview with the CircuitDAO team
xch.today — Article on mainnet launch
Top 3 Vulnerabilities I Found in the CircuitDAO Codebase
FireAcademy — Yakuhito's audit findings: Chialisp smart contract vulnerabilities found during the audit competition
CircuitDAO: An On-Chain Collateralized Stablecoin Protocol
Medium — Non-custodial architecture, leveraged positions, savings vaults, and CRT governance
Chia 3 Year Mainnet Anniversary: A Look Back and Look Ahead
xch.today — Chia ecosystem developments including Circuit DAO
Decentralized Liquidity with Chia Offers
Dexie Notes — Chia's offer ecosystem and Circuit DAO's role in DeFi TVL
Decentralized stablecoin from CircuitDAO
kopalniekrypto.pl — How BYC works: XCH collateral, over-collateralization, stability fees, and liquidations
DeFi on Chia — ChiaLinks
ChiaLinks — Circuit DAO listed as Chia's on-chain collateralized stablecoin protocol
What the community says
With Circuit, you can now do the same with $XCH. Don't sell your valuable asset, borrow against it. Plus this can all be done on-chain. The power of Chia.
On borrowing against XCH without selling
@ldds8888This is a stablecoin to watch and could work great with RWAs in the future.
On BYC's potential for real-world asset integration
@MatthewSHintzI didn't think Circuit was going to release. Just wanted to say thank you for all your hard work.
After mainnet launch during a volatile market
@j45818805Hey have you seen the $100k competition @Circuit_DAO has ongoing? And congrats, Great work!
On the $100K Cantina security audit competition
@ChiefLeaf313awesome work!
On the official mainnet launch
@realbased_ogAwesome work!
On the Cantina security competition results
@hrkrshnnWhere we are going, you won't need to sell $XCH. You can get paid in dividends or create collateral debt positions/earn interest. The only chain with legal framework and tech infrastructure to buy tokenized securities as US citizens.
On earning interest via CDPs and tokenized securities on Chia
@JamesCryptoNova