The past two weeks at Satoshi Protocol have been a whirlwind of activity. While we’ve been busy forging strategic partnerships and engaging with the community, the highlight of this bi-week was undoubtedly our participation in the highly anticipated Bybit Bitcoin Layer-2 Airdrop🪂 Season.
This exciting event offered users a chance to win a share of a massive $600,000 BEVM token prize pool, while simultaneously introducing them to the innovative BEVM protocol and its Layer-2 solutions.
But the Bybit airdrop was just one piece of the puzzle. In the following sections, we’ll delve deeper into the other key achievements of these past two weeks, showcasing our dedication to growth and collaboration within the Bitcoin space.
What is 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.
Users can deposit BTC as collateral to borrow the SAT stablecoin pegged to $1, unlocking trillion-dollar liquidity in Bitcoin. The operation of SAT involves over-collateralization, liquidation, and arbitrage mechanisms.
To borrow 100 SAT, users need to deposit BTC worth at least 110% above the loan amount as collateral. If BTC’s price changes, it will trigger liquidation to keep SAT stable.
Satoshi Protocol also has a native token, OSHI, focused on ecosystem utility and revenue sharing for OSHI Token holders.
Learn how Satoshi Protocol maintains SAT’s dollar peg and enhances the Bitcoin ecosystem in our article Satoshi Protocol: The First CDP on BEVM , Unleash BTCFi for everyone
Milestones
Here’s what we’ve accomplished in the past two weeks:
- May 20: Stability Pool Incentive
- May 23: UXLINK NFT Giveaway
- May 24: AMA with oooo
- May 28: Bybit BTC L2 Airdrop🪂 is Here
May 20: Stability Pool Incentive
We announced some enhancements to our stability pool, designed to bring you greater transparency and opportunities to earn rewards!
Now you can view the estimated APR for depositing SAT into the stability pool. And you’ll earn additional Points by depositing SAT into the stability pool.
For more details, please visit: Rewards Beyond Discount Bitcoin: Deposit SAT into Stability Pool to Earn Additional Points
May 23: UXLINK NFT Giveaway
In a thrilling collaboration with UXLINK, the leading Web3 social platform and infrastructure provider, we hosted a grand NFT giveaway event!
This exciting partnership offered our community the chance to win exclusive NFTs with the potential to claim valuable $UXUY tokens.
May 24: AMA with oooo
Satoshi Protocol participated in a thought-provoking AMA session hosted by oooo The event, titled “User Acquisition Challenges for Bitcoin Projects,” brought together industry experts from across the Bitcoin landscape, including representatives from Merlin Chain, BEVM, Particle Network, and of course, Satoshi Protocol.
This AMA session presented a unique opportunity for the Satoshi Protocol team to engage with a wider audience, share their experiences, and gain valuable insights into the ever-evolving user acquisition landscape within the Bitcoin ecosystem.
May 28: Bybit BTC L2 Airdrop is Here
Great news for the Satoshi Protocol community! The highly anticipated Bybit Bitcoin Layer-2 Airdrop Season finally arrived, offering users a thrilling opportunity to win a share of a staggering $600,000 BEVM token prize pool! This exciting campaign served to introduce users to the burgeoning world of Bitcoin Layer-2 solutions, with a particular focus on the innovative BEVM protocol and its ecosystem.
- Duration: 2024/05/28–2024/06/28
- Landing Page: Bitcoin Layer-2 Airdrop Season: BEVM | Bybit
The airdrop structure itself gamified participation, allowing users to unlock “mystery boxes” containing random amounts of BEVM tokens by completing a series of tasks.
Partnership
We’ve been busy forging strategic partnerships with a host of innovative projects within the Bitcoin ecosystem. Each collaboration brings us a step closer to achieving our shared vision of a more prosperous and inclusive future for Bitcoin.
Let’s delve into the details of these partnerships and explore the unique value propositions each brings to the table:
- May 15: Partnerships with Neko Swap
- May 21: Partnership with RunesTerminal
- May 22: Partnership with DotSwap
- May 25: Partnership with RunesBridge
- May 27: Partnership with K.O.I
May 15: Strategic Partnerships with Neko Swap
Neko Swap establishes itself as a decentralized token exchange on BitLayer. Embodying the spirit of experimentation, the $Rneko rune fosters a path towards a more inclusive financial landscape within the Bitcoin ecosystem.
We’ll work together to build a more prosperous BTC ecosystem!
May 21: Partnership with RunesTerminal
Runes Terminal is a comprehensive platform designed to accelerate innovation within the Runes ecosystem, and provides the infrastructure necessary for growth and development.
This collaboration unlocks new possibilities for innovation, user growth, and financial inclusion within the Bitcoin ecosystem.
May 22: Partnership with DotSwap
DotSwap is a revolutionary token swap platform on Bitcoin, designed for speed, security, and versatility. It eliminates the need for traditional order books by employing a robust Automated Market Maker (AMM).
This collaboration signifies a significant step forward in streamlining token swaps for users within the Bitcoin ecosystem.
May 25: Partnership with RunesBridge
RunesBridge is a frontrunner in cross-chain bridges, leveraging the Runes Protocol to connect Bitcoin to the Ethereum ecosystem. Their user-friendly bridge allows effortless transfer of Runes-based assets, acting as the bridge in the Runes ecosystem.
This partnership paves the way for a future where Bitcoin and DeFi interact effortlessly.
May 27: Partnership with K.O.I
K.O.I. is a pioneering social gaming platform built on the Bitcoin network. By harnessing the power of Bitcoin’s robust liquidity and integrating cutting-edge AI technology, K.O.I. fosters a unique and immersive gaming experience for users.
This collaboration unlocks exciting possibilities for the future of gaming within the Bitcoin ecosystem.
Conclusion
As we conclude this bi-week recap, we are filled with immense gratitude for the unwavering support of our community and our partners. Together, we have made significant strides towards revolutionizing the Bitcoin landscape and unlocking its true potential.
From forging strategic partnerships to actively engaging with the community, we are relentlessly pursuing our mission of empowering users and unlocking the true potential of Bitcoin.
We are excited to continue building upon this momentum and invite you to join us on this journey as we shape the future of decentralized finance.
Thank you for being a part of the Satoshi Protocol journey!
