The first half of December has been a time of remarkable progress for Satoshi Protocol.
We've seen significant growth in our Total Value Locked (TVL), exciting partnerships, and strong community engagement. From sponsoring major events in Taipei Blockchain Week to the launch of key features on our platform, it’s been a busy and impactful month.
As we continue to expand the BTCFi ecosystem, here’s a recap of the major milestones from December 1 to 15.
Highlights
Reached 23M+ in Total Value Locked (TVL)
We’ve surpassed 23M+ in Total Value Locked (TVL), showcasing continued growth and trust in our platform.
Sponsored Mr.Block Summit in Taipei
We’re proud to sponsor the Mr.Block Summit!
Key Takeaways from the keynote:
- The stablecoin "trilemma" has shifted from Stability, Capital Efficiency, and Decentralization to Yield, Capital Scalability, and Risk Management.
- Ethereum’s DAI holds 3% of the stablecoin market cap, while BTC’s market cap is 4x larger than ETH. This highlights a $30B growth potential for a BTC-backed stablecoin.
Launched Satoshi on B² Network
Satoshi is now live on the B² Network, a modular Bitcoin Layer 2 solution with B² Rollup and zero-knowledge proof verification.
With Satoshi on B² Network, users can:
- Mint satUSD with BTC at 0% interest
- Restake on Pell for rewards
- Provide liquidity and swap on Glow Swap
- Unlock BTC liquidity with uBTC (LST)
Learn more here
What is Satoshi Protocol
Satoshi Protocol is the first Bitcoin Finance Network powered by satUSD, a Bitcoin-backed stablecoin. Mint satUSD with BTC as collateral across the Bitcoin Mainnet and L1s/L2s.
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 were our milestones for the first half of December:
- Dec 3: Launched Satoshi App v2
- Dec 4: Reached 10M+ in TVL
- Dec 6: Ranked #1 with 18B Votes in BOB Community Voting
- Dec 6: Published an Article on Babylon Staking Cap3
- Dec 10: Launched Satoshi on B² Network
- Dec 11: Added uBTC as Collateral to Mint satUSD
- Dec 11: Sponsored 13Desk Meetup in Taipei
- Dec 13: Sponsored Mr.Block Summit in Taipei
- Dec 14: Participated in TBW Panel with 3Commas, Solv Protocol, & Babylon Labs
- Dec 14: Moderated a TBW Panel with Bsquared Network, BOB, & Bitlayer
- Dec 14: Organized a Panel with Mr.Block, Pell Network, & Orbiter Finance
- Dec 15: Hosted ‘Satoshi VIP Party’ Private Event in Taipei
- Dec 15: 4000+ Pell x Satoshi OAT minted
- Dec 15: 18K+ Omni Mochi Party OAT Claimed
- Dec 15: Reached 23M+ in Total Value Locked (TVL)
Launched Satoshi App v2
We successfully launched Satoshi App v2.
Thanks to your valuable feedback and support, we introduced significant enhancements:
- Lite & Pro modes for flexible usage
- Simplified satUSD minting process
- Unified satUSD yield tracking on the Earn page
- Improved reward distribution system
Reached 10M+ in TVL
On December 4, 2024, our Total Value Locked (TVL) surpassed 10M+, reflecting the growing trust and strength of our community.
Ranked #1 in BOB Community Voting
Huge thanks to everyone who supported us!
We ranked #1 with 18B votes in community voting, and all 125M Spice has been distributed to voters.
Published an Article on Babylon Staking Cap3
We published an article covering the launch of Babylon Staking Phase-1 Cap-3, following the overwhelming success of Phases 1 and 2.
BTC holders can now stake BTC using Binance Earn, OKX Web3 Wallet, and LSD Protocols to maximize their rewards.
You can read the full article here
Added uBTC as Collateral to Mint satUSD
We’ve added uBTC as collateral to mint satUSD, providing more flexibility for BTC holders to unlock liquidity and mint satUSD with ease.
Sponsored 13Desk Meetup in Taipei
We sponsored the 13Desk Meetup in Taipei. It was a great opportunity to connect with the teams from Babylon to discuss innovations in BTCFi and Web3.
Participated in TBW Panel with 3Commas, Solv Protocol, & Babylon Labs
We were glad to join the Bitcoin Finance panel at TBW, discussing new possibilities for onboarding users into BTCFi with Comma3, Solv Protocol and Babylon Labs
Key summary from the panel here
Moderated a TBW Panel with Bsquared Network, BOB, & Bitlayer
Naka, CEO of Satoshi Protocol, moderated the Bitcoin Layer 2 panel featuring BSquared Network, BOB Network, and Bitlayer Labs.
Key takeaways from the panel here
Organized a Panel with Mr.Block, Pell Network, & Orbiter Finance
We organized a Bitcoin Layer2 panel with Mr.Block, featuring Pell Network & Orbiter Finance. The discussion explored opportunities, challenges, and reward-earning strategies in BTCFi.
Key takeaways from the panel here
Hosted ‘Satoshi VIP Party’ Private Event in Taipei
We hosted an exclusive TBW side event in Taipei, bringing together key ecosystem players and investors. The event featured four speakers:
- Naka, CEO & Co-Founder of Satoshi Protocol
- Leslie, COO & Co-Founder of Solv Protocol
- Jenks, Developer Relations at Babylon Labs
- Makoto, Co-Founder of Pell Network
Key takeaways from the event here
Pell x Satoshi OAT Campaign
Over 4,000 Pell OATs were minted during the campaign, highlighting strong participation and engagement.
Omni Mochi Party Campaign
Over 18K+ participants minted Omni Mochi Party OAT, showing strong support for the campaign.
As we move through December, we're looking forward to even more developments and collaborations. Stay tuned for more updates!
About Satoshi protocol
Satoshi Protocol is the first Bitcoin Finance Network powered by satUSD, a Bitcoin-backed stablecoin. Mint satUSD with BTC as collateral across the Bitcoin Mainnet and L1s/L2s.
Get started with Satoshi Protocol, follow us!
Website | Web APP | Twitter | Telegram | Discord | Docs | Blog
