Ducat, a Bitcoin native stablecoin project on Runes, completed a $1.25 million Pre-Seed round of financing, led by UTXO Management, with participation from THE CMS, Bitcoin Frontier Fund, Revelo Intel, MARIN DIGITAL VENTURES, Samara Asset Group, itcoin Startup Lab, Bitflow, X +, and others. Ducat solves the centralization problem of the stablecoin market by providing a Bitcoin native, self-escrow, and permissionless smart contract system, satisfying Bitcoin holders' preference for security and autonomy. The governance token DUCAT provides a stablecoin solution that fuses Bitcoin's censorship resistance with decentralized native collateral.