The second half of October has been a time of great progress. We’ve seen active community engagement, new partnerships, and informative initiatives.
There has been strong participation in community voting campaigns, the launch of new trading pairs, and exciting collaborations to improve our ecosystem.
As the BTCFi ecosystem grows, here’s a recap of the key milestones from October 16 to 31.
Highlights
125M BOB Spice Distribution to users
We’ve claimed the top spot with 1.6B votes, and we are now distributing all 125M Spice to the users. We’ve updated the Spice distribution rules to focus more on minting satUSD and using SolvBTC.BBN as collateral.
These changes make minting satUSD more rewarding, with extra benefits when using SolvBTC.BBN!
We announced our partnership with Oku
Excited to team up with Oku, a DeFi meta-aggregator offering the best swap and bridge rates across any chain.
This collaboration brings satUSD liquidity pools to Oku, offering users the chance to trade, provide liquidity, and earn fees on BOB.
You can learn more about it in this link.
What is Satoshi Protocol
Satoshi Protocol enhances the utility of Bitcoin through the satUSD stablecoin, providing a way for Bitcoin holders to access liquidity by depositing BTC and LST as collateral.
The protocol operates with an over-collateralization model requiring 110% BTC to mint satUSD, ensuring system stability. When the price of BTC fluctuates, liquidation mechanisms automatically adjust, protecting the peg to the US dollar.
Mint satUSD here: Satoshi Protocol | Position
Milestones
These are our milestones for the second half of October:
- Oct 17: Participated on BiHelix | RGB Spaces
- Oct 17: Added solvBTC.BBN as collateral to mint satUSD
- Oct 17: 125M BOB Spice Distribution to users
- Oct 21: We announced our partnership with Oku
- Oct 22: Launched satUSD-USDT pair on Oku
- Oct 25: Published an article on ‘How Users Take Advantage of Bitcoin 0% Interest Loans’
- Oct 30: Ranked 2nd on BOB voting with 3.8 billion votes
- Oct 31: Received strong support in Bybit WSOT
- Oct 31: Omni Mochi Party campaign
Oct 17: Participated on BiHelix | RGB Spaces
Along with Pell Network, Merlin Chain, and Native Network, we joined BiHelix | RGB Spaces to discuss "Bitcoin Ecosystem - 6 months after halving" It was an engaging conversation, and you can listen to the full discussion through this link.
Oct 17: Added solvBTC.BBN as collateral to mint satUSD
Users can now deposit solvBTC.BBN as collateral to mint satUSD on Satoshi Protocol.
Oct 22: Launched satUSD-USDT pair on Oku
satUSD-USDT pair is live on Oku, allowing Satoshi Protocol users to trade satUSD efficiently on a decentralized platform. Users can also provide liquidity to satUSD pools to earn trading fees.
Trade on Oku using this link
Oct 25: Published an article on ‘How Users Take Advantage of Bitcoin 0% Interest Loans’
The article highlights a growing trend where users leverage Bitcoin 0% interest loans by borrowing satUSD stablecoins with BTC or LST as collateral. This strategy enables users to access liquidity without selling their Bitcoin, offering flexibility and various investment opportunities.
Learn more about it in this article
Oct 30: Ranked 2nd on BOB voting with 3.8 billion votes
We received 3.8 billion votes, securing second place in the BOB community voting under the BTC Assets category
Oct 31: Received strong support in Bybit WSOT
Satoshi Protocol participated in the Bybit WSOT campaign, encouraging users to trade on Bybit DEX Pro and vote for a chance to win from a 1,000,000 MNT prize pool. The campaign achieved impressive results, accumulating 739,445 voting points with support from 2,766 voters.
Oct 31: Omni Mochi Party campaign
We participated in Omni's Mochi Party campaign on the Omni Omega testnet, attracting over 11,000 participants.
There's still a lot coming up in the next few weeks, and we’re excited to host the Bitcoin Taipei Meetup, a side event of Taipei Blockchain Week.
Stay tuned for more updates!
About Satoshi protocol
Satoshi Protocol is the 1st universal stablecoin protocol backed by Bitcoin, using BTC as collateral to mint the native stablecoin satUSD across Bitcoin Mainnet, Layer 2s, and the EVM ecosystem.
Get started with Satoshi Protocol, follow us!
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