Satoshi Protocol is excited to announce a strategic partnership with Bitlayer, a leading Bitcoin Layer 2 solution.
This collaboration aims to enhance the Bitcoin ecosystem by improving the liquidity and movement of our universal Bitcoin-backed stablecoin, $SAT. By combining our efforts, we aim to create synergies across various projects, driving greater integration and adoption of SAT.
What is Bitlayer
Bitlayer is a Bitcoin Layer2 solution focused on security and developer accessibility. It introduces the Trustless 2-Way Peg, a new model that combines OP-DLC and the BitVM bridge, offering much greater security than traditional methods.
Currently, Bitlayer uses POS and MPC-TSS frameworks, aiming to release the first Turing-complete solution based on BitVM with Bitcoin-equivalent security. The VM will support various virtual machines, including EVM, CairoVM, SolVM, and MoveVM. It is a technological pioneer in Bitcoin Scaling Solutions.
- Supported Networks: Bitcoin Layer 1 and multiple Layer 2 solutions.
- Supported Tokens: Multiple Bitcoin-backed tokens and assets.
- Security Features: PoS + MPC-TSS, Future: Trustless 2-Way Peg (OP-DLC + BitVM)
Benefits for $SAT Users
- Enhanced Liquidity on Bitcoin Layer2 : Through this partnership, SAT will bridge to other Bitcoin Layer 2 networks, significantly expanding its utility and reach. Users can move SAT seamlessly within the Bitcoin ecosystem, enhancing its liquidity and use.
- Interoperability of SAT: This collaboration will enhance the interoperability of SAT across various Bitcoin Layer 2 networks and other blockchain ecosystems. By facilitating seamless asset transfers and integrations, we will drive greater adoption and use of SAT. This expanded interoperability will allow SAT to operate effectively across multiple platforms, increasing its utility and reach within the decentralized finance (DeFi) landscape.
- Project Synergy: The universal stablecoin SAT will create synergies across various projects, including:
- Decentralized Exchanges (DEXs): Creating liquidity pools and market-making opportunities.
- Lending Protocols: Allowing SAT as collateral and establishing attractive lending and borrowing rates.
- Liquid Staking Derivatives (LSD) Protocols: Enabling SAT holders to participate in liquid staking and yield optimization strategies. These synergies will enhance the infrastructure of the Bitcoin ecosystem, driving innovation and user engagement.
Partnering with Satoshi Protocol will boost the BTC-backed stablecoin $SAT, essential for the Bitcoin ecosystem. This collaboration enhances $SAT’s liquidity and interoperability across the Bitlayer ecosystem.
It benefits the Bitlayer ecosystem by increasing transaction volumes and supporting new use cases. Together, we will drive project synergies with Liquid Staking Derivatives, Decentralized Exchanges, and Lending protocols. Let’s build and expand BTCFi.
Bitlayer TEAM
Conclusion
This partnership marks a significant milestone for both Satoshi Protocol and Bitlayer. It’s the first step toward a universal stablecoin with a more capital-efficient model, set to invigorate the current Bitlayer ecosystem.
This collaboration will drive greater synergy and innovation across both protocols, enhancing their overall impact and paving the way for the future of BTCFi.
About Bitlayer
Bitlayer is a Bitcoin Layer2 solution focused on security and developer accessibility. It introduces the Trustless 2-Way Peg, a new model that combines OP-DLC and the BitVM bridge, offering much greater security than traditional methods.
Website | Twitter | Whitepaper | Blog | Devs
About Satoshi Protocol
Satoshi Protocol is a universal stablecoin protocol built specifically for Bitcoin. It empowers users to deposit their Bitcoin as collateral to borrow a stablecoin called SAT, on either Bitcoin Layer 1 or Layer 2.
Website | Web APP | Twitter | Telegram | Discord | Docs | Blog
