# Money Protocol Documentation

> Technical and product documentation for Money Protocol, a decentralized self-custodial Bitcoin liquidity system. This site documents the protocol's mechanics, token economics, risk parameters, and audit history. Read here to understand how Bitcoin-backed borrowing at 0% interest works, how vaults and the stability pool operate, and how to use the protocol.

## Getting started

- [Money Protocol Overview](https://docs.moneyprotocol.co/docs/intro): High-level introduction to what Money Protocol is and how to start using it.

## Benefits

- [Benefits of Money Protocol](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/): Why use Money Protocol over alternatives.
- [Annual Interest Rate](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/annual-interest-rate): The 0% interest model and how it is structurally maintained.
- [Collateral Ratio](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/collateral-ratio): The 110% minimum collateral ratio in normal operation, 150% in recovery mode.
- [Immutability and No Admin Key](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/immutability-and-no-admin-key): The protocol cannot be altered by the team — there is no admin key.
- [MP Token: Early Adoption Incentives](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/mp-token-early-adoption-incentives): How MP rewards are allocated to early users.
- [MP Token: Staking](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/mp-token-staking): Staking MP to earn a share of protocol fees.
- [No Governance, Algorithmic Monetary Policy](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/no-governance-and-complete-algorithmic-monetary-policy): Why the protocol does not require governance votes.
- [Resistance to Censorship](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/resistance-to-censorship): How permissionless smart contracts resist takedown attempts.
- [Strong Price-Floor Stability](https://docs.moneyprotocol.co/docs/benefits-of-money-protocol/strong-price-floor-stability): The peg-stability mechanism for the BPD stablecoin.

## System rules and features

- [System Rules and Features Index](https://docs.moneyprotocol.co/docs/system-rules-and-features/): Mechanics overview.
- [Borrower Activities](https://docs.moneyprotocol.co/docs/system-rules-and-features/borrower-activities): Open vault, adjust vault, repay debt, close vault.
- [Liquidations](https://docs.moneyprotocol.co/docs/system-rules-and-features/liquidations): How undercollateralized vaults are closed and how the stability pool absorbs the BPD debt.
- [Recovery Mode](https://docs.moneyprotocol.co/docs/system-rules-and-features/recovery-mode): The system-wide safety state when total collateral ratio drops below 150%.
- [Redemption Features](https://docs.moneyprotocol.co/docs/system-rules-and-features/redemption-features): How BPD holders can redeem against vaults to enforce the peg.
- [Stability Pool Activities](https://docs.moneyprotocol.co/docs/system-rules-and-features/stability-pool-activities): Deposit BPD to absorb liquidations and earn liquidated BTC at a discount.

## Other resources

- [Liquidity Rewards](https://docs.moneyprotocol.co/docs/other-resources/liquidity-rewards): Rewards for stability-pool depositors and liquidity providers.
- [MP Token Allocation](https://docs.moneyprotocol.co/docs/other-resources/mp-token-allocation): How MP supply is distributed.
- [Risks](https://docs.moneyprotocol.co/docs/other-resources/risks): Smart-contract risk, liquidation risk, and mitigations.
- [Security Audit](https://docs.moneyprotocol.co/docs/other-resources/security-audit): Independent audit reports.

## Related resources

- [Money Protocol product site](https://www.moneyprotocol.co/): Product landing and "Launch Now" entry point.
- [Money Protocol FAQ](https://www.moneyprotocol.co/faq): Frequently asked questions.

Last updated: 2026-04-24