Pogun is a Bitcoin finance project developing fixed-term, Bitcoin-backed credit through direct agreements between lenders and borrowers. Its approach is designed to avoid custody by pooled platforms, shared lending risk, and liquidations triggered solely by market prices. Each lender publishes clear terms, including the asset, interest rate, duration, repayment obligations, and default rules. Borrowers can review an offer before accepting it or locking collateral; once funded, the signed agreement governs repayment or default. Repayment returns the same amount of Bitcoin, while a payment default may allow the lender to claim under the agreed rules.

Pogun is also developing Mirror, a BitVM-based system intended to secure each loan’s Bitcoin in a separate deposit on the Bitcoin network. A prototype test exercised contested withdrawal paths on Bitcoin mainnet, but collateral is not yet live and the system is not a finished product. Pogun invites prospective borrowers, lenders, and operators to join its waitlist. Its founders and contributors bring experience across blockchain, Bitcoin, cryptography, engineering, product, and industrial control.