We are excited to announce the Satoshi Protocol <> Macaron Trading Competition on Bitlayer!
Join us from June 19th to June 24th and compete for a share of the $60,000 USDT reward pool. Here’s your chance to trade, provide liquidity, and earn USDT rewards!
- June 19th — June 24th 12:00 pm ( GMT+8 )
- Total Reward: $60,000 USDT
Tasks to participate
- Complete SAT/WBTC transactions on Macaron
- Provide Liquidity to SAT-WBTC on Macaron
40,000 USDT Rewards for Transactions
Complete SAT/WBTC transactions on Macaron to compete for a share of the $40,000 USDT reward pool. To be eligible, the total number of transactions must exceed 80,000 during the competition period.
- Criteria: Total transactions must exceed 80,000
- Ranking: Based on the number of transactions, not the volume
The ranking is based on the number of transactions you complete, not the volume of SAT/WBTC traded. The top traders will be rewarded as follows:
20,000 USDT Rewards for LP Providers
Provide liquidity to the SAT-WBTC pair on Macaron to compete for a share of the $20,000 USDT reward pool. To qualify, the total SAT/wBTC LP Index must exceed $2,000,000 during the competition period, which means maintaining an average LP value of $400,000 for 5 days.
- Criteria: Total liquidity must exceed $2,000,000 during the competition
- Ranking: Based on LP Index (LP value * days)
The ranking is based on your LP Index, which is calculated by multiplying your liquidity value by the number of days you provide liquidity.
If one user adds $100 LP for one day, then the LP Index = $100; two days, $200. LP Index does NOT mean the LP size of the current Pool.
Macaron will take snapshots of users’ LPs added every 4 hours. During the interval of snapshot, users who added LP higher than $100 will be counted while those who added LP lower than $100 will be counted proportionally.
The top liquidity providers will be rewarded as follows:
How to Get Started
Borrow SAT
- Use Lorenzo’s stBTC as collateral to borrow the SAT.
- Tutorial: How to Borrow SAT
Swap BTC for SAT on Macaron
- Visit Macaron Swap
- Ensure you have BTC in your wallet.
- Select BTC in the “From” field and SAT in the “To” field.
- Confirm the transaction in your wallet.
Swap BTC for SAT on Macaron
Add Liquidity to SAT-WBTC on Macaron
- Navigate to Pool page
- Select SAT/WBTC
- Ensure you have both SAT and WBTC in your wallet.
- Enter the amount of SAT and WBTC you wish to add as liquidity.
- Approve and click “Supply”.
- Confirm the transaction.
- You will receive liquidity pool (LP) tokens representing your share in the pool.
Add Liquidity to SAT-wBTC on Macaron
Don’t miss out on this opportunity to be part of the Satoshi Protocol Trading Competition!
Start trading and providing liquidity to earn your rewards. For more details and updates, follow our official channels. Let’s make this competition a grand success!
About Satoshi Protocol
Satoshi Protocol is a universal stablecoin protocol built specifically for Bitcoin. It empowers users to deposit their Bitcoin as collateral and borrow stablecoins SAT, on either Bitcoin Layer 1 or Layer 2.
Website | Web APP | Twitter | Telegram | Discord | Docs | Blog
