Recap · · 8 min read

Satoshi Bi-Weekly Recap: Macaron Trading competition, Fee Reduction and Extra Points (June 16-30)

Collaboration with BEVM and Bybit Web3. Announced 0% interest fee update, enabling BTC deposits for points. Introduced by Binance Research.

Satoshi Bi-Weekly Recap: Macaron Trading competition, Fee Reduction and Extra Points (June 16-30)

From June 16th to June 30th, Satoshi Protocol made significant strides in expanding the reach and utility of the SAT stablecoin, fostering a thriving community, and solidifying their position within the DeFi landscape.

Get ready to dive into a jam-packed recap of Satoshi Protocol's latest achievements, including a wildly successful trading competition, a game-changing fee reduction, and a series of strategic partnerships that unlock exciting new possibilities for SAT and Bitcoin holders alike!


Bybit Web3 x BEVM Airdrop Ended on June 28th

This successful airdrop campaign concluded, rewarding over 11,300 addresses for completing tasks and engaging with the BEVM ecosystem.

Satoshi Protocol Announced 0% Borrowing Fees for SAT

A groundbreaking move by Satoshi Protocol to eliminate borrowing fees for SAT. This initiative aims to empower Bitcoin holders, unlock new DeFi opportunities, and revitalize the BTCFi space.

Deposit Assets to Earn Extra Points to Climb the Leaderboards

The referral program gets a revamp, introducing a new points system with multiple ways to earn points and climb the leaderboard for the upcoming OSHI token airdrop.

Trading competition with Macaron (June 19th - 24th)

A highly successful competition on Macaron DEX that incentivized trading and liquidity provision for the SAT/WBTC pair. Over $810,000 in liquidity was added, and the competition saw a significant number of trades (81,000+), showcasing strong community interest in SAT.

Strategic Partnerships

Satoshi Protocol broadens its reach through key collaborations:

What is Satoshi Protocol

Satoshi Protocol is a universal stablecoin protocol built specifically for Bitcoin. It empowers users to deposit their BTC as collateral to mint a stablecoin called SAT, on either Bitcoin Layer 1 or Layer 2. $SAT stablecoin pegged to $1, unlocking trillion-dollar liquidity in Bitcoin.

The operation of SAT involves over-collateralization, liquidation, and peg mechanisms.To borrow 100 $SAT, users need to deposit BTC worth at least 110% above the loan amount as collateral. If BTC's price falls, it will trigger liquidation to keep SAT stable.

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


Here's what we've accomplished in the past two weeks:

June 19th - 24th: Macaron 60,000 USDT Trading Competition

Satoshi Protocol partnered with Macaron DEX to host a trading competition with a total prize pool of $60,000 USDT. The competition aimed to incentivize swapping and providing liquidity for the SAT/WBTC pair on the Macaron DEX platform.

This event offered users the opportunity to earn rewards in USDT by either actively trading SAT/WBTC or contributing liquidity to the pair. The competition structure rewarded both frequent traders and liquidity providers, fostering a more vibrant trading environment for the SAT token.

Macaron 60,000 USDT Trading Competition

On June 20th, The SAT/WBTC pool offered a remarkable 237% APR throughout the competition, further incentivizing participation and driving liquidity.On June 24th, this campaign successfully concluded!

The competition saw a staggering 81,000+ trades on the SAT/WBTC pair, indicating significant user interest in trading the SAT token.

Over $810,000 in liquidity was added to the SAT/WBTC pair on Macaron DEX, signifying strong community participation and a commitment to building a robust market for SAT.

June 19th: The Voice of Bitlayer - EP7 Twitter Space

Satoshi Protocol participated in a Twitter Space discussion hosted by Bitlayer Labs titled "The Voice of Bitlayer - EP7." The event featured representatives from Bitlayer Labs, Macaron DEX, Enzo Finance, and Satoshi Protocol.

Space with Bitlayer

June 19th: Partnership with Ordict

Satoshi Protocol announced a strategic partnership with Ordict, the developer of the first Soulbound Inscription Protocol on the Bitcoin network!

Ordict's protocol, powered by Runes, enables the creation of secure and verifiable digital credentials. These credentials are immutable and permanently linked to a user's Bitcoin address, essentially creating an on-chain identity.

Partnership with Ordict

June 20th: $2,000 USDT Giveaway with Macaron DEX

We partnered with Macaron DEX to host a $2,000 USDT giveaway on Galxe.

The giveaway aimed to incentivize users to swap SAT on the Macaron DEX platform, and 100 winners would be randomly selected to receive $20 USDT each.

2000 USDT Giveaway with Macaron, Pumpad and CBD

June 21st: Partnership with Portal

Satoshi Protocol entered into a strategic partnership with Portal to integrate their SAT stablecoin into the Portal DEX Network. This integration aims to expand trading opportunities for the SAT token and unlock new possibilities within the Bitcoin ecosystem.

By integrating with Portal's DEX network, SAT will gain wider exposure to a new user base interested in Bitcoin-backed stablecoin trading. This could significantly increase trading volume and liquidity for SAT, potentially enhancing its price stability.

Partnership with Portal

June 22nd: 0% Borrowing Fees for SAT

Satoshi Protocol slashed its borrowing fees for the SAT stablecoin to 0%. This unprecedented move eliminates interest charges for users borrowing SAT against their Bitcoin collateral, effectively offering interest-free leverage on Bitcoin holdings.This move is a boon for Bitcoin holders. They can now:

This initiative goes beyond immediate benefits. It's a strategic move to:

Satoshi Protocol's vision extends beyond their platform. This fee structure lays the groundwork for a future where Bitcoin becomes a DeFi powerhouse, frictionless DeFi participation with Bitcoin is a reality, and a thriving BTCFi ecosystem fosters groundbreaking innovation.

To learn more about the Zero Borrowing Fees Update, visit: Satoshi Protocol Slashes Borrowing Fees to 0%! Unlock Bitcoin Liquidity with Unprecedented Efficienc

0% Interest

June 23rd: Partnership with Polyflow

Satoshi Protocol partnered with Polyflow, a DeFi payment solutions provider, to integrate the SAT stablecoin with Polyflow's "Tap and Go" crypto spending platform. This collaboration aims to streamline DeFi payments and unlock real-world use cases for SAT.

Partnership with Polyflow

June 26th: Twitter Space Discussion - Satoshi x Lorenzo

We hosted a Twitter Space with Lorenzo Protocol to delve into the implications of 0% interest fees for the $SAT stablecoin. The conversation explored the benefits for users who can leverage stBTC yield & holding.

Space with Lorenzo

June 26th: Deposit BTC to Earn points

Users can now earn "Position Points" based on the total value of their deposited assets (BTC, stBTC, wstBTC) in addition to borrowing SAT. A weekly snapshot captures both Position Points and deposited collateral for accurate point calculations.

The Referral Program offers various points categories:

Points system update

June 27th: 500 USDT giveaway for Voting with Blend

We teamed up with Blend to launch a community onboarding campaign. This initiative aims to attract new users to both platforms through a giveaway on the TaskOn.

Voting with Blend

June 28th: Bybit Web3 Campaign Concluded

BEVM hosted the BEVM airdrop with Bybit Web3 wallet, joined by ecosystem projects including Bido, oooo_money, and BEVMSwap. A total of 55k participants, with over 11.3k users joining Satoshi's tasks.

June 28th: Introduced by Binance Research

Exciting updates from @BinanceResearch!

The Satoshi Protocol is featured in the latest Bitcoin Ecosystem report as a stablecoin project. Our protocol aims to unleash liquidity for the Bitcoin ecosystem. It empowers users' BTC holdings with the universal stablecoin $SAT.

Binance Research

June 29th: Partnership with Anome

Strategic partnership with Anome, a leading NFT lending platform. This collaboration aims to unlock new possibilities for users to leverage their NFT holdings within DeFi, NFTFi, and GameFi.

Partnership with Anome

Partnered with BitPartyTech for Gamified $SAT Staking

Satoshi Protocol capped off the month with a partnership announcement alongside BitPartyTech. This collaboration introduces a novel way for users to interact with their SAT stablecoin: gamified staking.

Partnership with Bitparty


Satoshi Protocol's bi-weekly achievements from June 16th to June 30th showcase a project in rapid growth. By strategically engaging the community, expanding the utility of SAT, and forging key partnerships, Satoshi Protocol has solidified its position within the DeFi landscape.

The elimination of borrowing fees for SAT has unlocked new DeFi possibilities for Bitcoin holders, while strategic partnerships with Ordict, Portal, Polyflow, Anome, and BitParty position SAT to play a more prominent role in Bitcoin ecosystem.

With a clear vision for the future of BTCFi, Satoshi Protocol is demonstrably committed to empowering Bitcoin holders and fostering a vibrant and dynamic financial landscape.

About Satoshi Protocol

Satoshi Protocol is a revolutionary "universal" stablecoin protocol backed by Bitcoin. It allows users to deposit BTC/stBTC as collateral to mint the stablecoin $SAT on both Bitcoin mainnet and multiple L2s.

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