Ahoy, there, Bitcoin enthusiasts!
Satoshi Protocol is making waves in the Bitcoin world, and this bi-weekly recap is your chance to catch the latest current.
We're not just talking about riding the tide – we're building the very ship that will navigate the future of BTCFi.
We secured a decisive win in the BEVM BVB competition, solidified partnerships that empower miners and gamers, and fueled our growth engine with a successful funding round. Let's dive into the details!
Highlights
Ranked 1st in the BEVM BvB with over 630K Votes
We achieved 1st place in the BEVM BvB (BEVM Visionary Builders) competition Phase 1, securing an impressive 630,255 votes. This accomplishment underscores Satoshi Protocol's robust community engagement and support within the BEVM ecosystem.
$2M Seed Round Funding Completion
We successfully closed a $2 million seed funding round led by CMS Holdings and RockTree Capital. This funding will accelerate the development of Satoshi Protocol's universal stablecoin protocol, potentially transforming how Bitcoin is utilized across various DeFi applications.
The Bitcoin Conference Sponsorship
We proudly sponsored The Bitcoin Conference in Nashville, showcasing Satoshi Protocol's role in revolutionizing BTCFi and inviting attendees to explore its innovative solutions. This sponsorship increases visibility and strengthens credibility within the cryptocurrency community.
UXLINK Airdrop2024 Session 2 Gold Partner
We announced participation as a Gold Partner for UXLINK's Airdrop2024 Session 2, co-hosted by TrustaLabs and OKX Ventures. This partnership highlights Satoshi Protocol's commitment to the broader crypto community and supporting innovative projects, fostering growth and adoption of blockchain technology.
Partnership with Miners.Club
We established a strategic partnership with Miners.Club, Europe's largest mining farm investing in over 100,000 BTC miners. This collaboration allows miners to leverage BTC as collateral to mint $SAT stablecoins interest-free, empowering them with liquidity and yield opportunities while retaining BTC holdings.
Other Strategic Partnerships
Satoshi Protocol broadens its reach through key collaborations:
GamerBoom
Integrating blockchain technology with the gaming industry to create engaging user experiences. (July 6)
LRWA
Empowering BTC miners by leveraging their yields with interest-free $SAT. (July 7)
Master Protocol
Offering users interest-free yield maximization for their BTC. (July 10)
Cycle Network
Enhancing cross-network transactions and facilitating seamless asset flow. (July 13)
What is Satoshi Protocol
Satoshi Protocol is a revolutionary "universal" stablecoin protocol backed by Bitcoin. It allows users to deposit BTC and LST as collateral to mint the stablecoin $SAT on both Bitcoin mainnet and multiple L2s.
$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
Milestones
Here's what we've accomplished in the past two weeks:
- July 3: $2000 Giveaway PARTY with PumPad
- July 4: 10,000 USDT Giveaway Co-campaign with PeaGPTs
- July 5: Ranked 1st in the BEVM BvB with over 630K Votes
- July 6: Partnership with GamerBoom
- July 7: Partnership with LRWA
- July 8: Sponsorship of The Bitcoin Conference
- July 9: $2M Seed Round Funding Completion
- July 10: Partnership with Master Protocol
- July 11: Gold Partner for UXLINK's Airdrop2024 Session 2
- July 12: BTCFi Session with APRO Oracle
- July 13: Partnership with Cycle Network
- July 13: Partnership with Miners.Club
July 3: $2000 Giveaway PARTY with PumPad
We partnered with PumPad to host a $2000 Giveaway Party on Telegram. Participants completed tasks to win prizes like USDT, $CBD, Yield Pass Cards, and S RGenesis passes.
July 4: Giveaway Co-campaign with PeaGPTs
We teamed up with PeaGPTs and other partners, including DarOpenNetwork, AllianceGames, HypeSaintsNFT, and BitStore, to launch a 10,000 USDT giveaway.
July 5: Ranked 1st in the BEVM BvB with over 630K Votes
We achieved 1st place in the BEVM BvB (BEVM Visionary Builders) competition phase 1 with an impressive tally of 630,255 votes!
This achievement highlights Satoshi Protocol's strong community engagement and support within the BEVM ecosystem. Winning 1st place underscores our influence in the BTCFi space, and solidifies our position as a key player in this field.
Such recognition not only boosts Satoshi Protocol's reputation but also enhances our visibility, attracting potential users and collaborators.Thanks again to our amazing community!
July 6: Partnership with GamerBoom
We announced a strategic partnership with Gamerboom, a leading gaming portal within the BitlayerLabs ecosystem.This partnership is significant as it highlights Satoshi Protocol's dedication to integrating blockchain technology with the gaming industry.
By joining forces with Gamerboom, Satoshi Protocol is poised to innovate within the Bitcoin gaming space, creating more engaging and rewarding experiences for users.
July 7: Partnership with LRWA
We announced a strategic partnership with LRWA, a company revolutionizing mining through one-click mining and Hashrate-based Real-World Assets (RWA). This collaboration aims to benefit BTC miners by enabling them to leverage mining yields with $SAT interest-free, without the need to sell their BTC.
By working with LRWA, Satoshi Protocol is helping miners maximize their returns and maintain their BTC holdings, thereby strengthening the overall cryptocurrency ecosystem.
July 8: Sponsorship of The Bitcoin Conference
We proudly announced our sponsorship of The Bitcoin Conference, scheduled for July 25-27 in Nashville. This sponsorship highlights Satoshi Protocol's role in revolutionizing BTCFi and invites attendees to explore innovative solutions offered by the protocol.
July 9: $2M Seed Round Funding Completion
We announced the successful closing of a $2 million seed funding round in May 2024, led by CMS Holdings and RockTree Capital. This funding round signifies a significant milestone for Satoshi Protocol in our mission to revolutionize BTCFi and enhance the utility of Bitcoin.
The investment will support Satoshi Protocol in developing its universal stablecoin protocol, which allows users to mint $SAT stablecoins by depositing Bitcoin (BTC) as collateral.
The participation of investors such as Cypher Capital, Optic Capital, Side Door Ventures, Metalpha, and angel investors like Paul Taylor highlights the broad support and confidence in Satoshi Protocol's vision. These funds will be pivotal in expanding Satoshi Protocol's technological capabilities, growing its global team, and increasing market penetration.
July 10: Partnership with Master Protocol
We announced a partnership with Master Protocol to integrate their Yield Market with Satoshi Protocol. This collaboration allows users to maximize their BTC yield using $SAT at zero interest costs. Additionally, users can participate in the Master BTC Summer Initiative, which features top Bitcoin projects.
July 11: Gold Partner for UXLINK's Airdrop2024 Session 2
We announced our role as a Gold Partner for UXLINK's Airdrop2024 Session 2. This event, hosted by UXLINK and TrustaLabs and co-hosted by OKX Ventures, aims to distribute significant rewards to participants.
July 12: BTCFi Session with APRO Oracle
We participated in an engaging BTCFi session hosted by APRO Oracle, featuring top Bitcoin projects. The event included discussions on the impact of BTC as a gas fee, collaborations, and airdrops between BEVM, Satoshi Protocol, and BidoFinance, as well as the potential and challenges of BTCFi.
July 13: Partnership with Cycle Network
We announced a strategic partnership with Cycle Network, a pioneer in bridgeless interactions through trustless liquidity abstraction across BTC and EVM networks.
This collaboration aims to integrate with the TON ecosystem, bridging BTC liquidity with EVMs, TON, and SOL ecosystems for seamless and cost-effective asset flow.
July 13: Partnership with Miners.Club
We announced a strategic partnership with Miners.Club, Europe's largest mining farm with a substantial investment in over 100,000 BTC miners. Through this collaboration, miners can deposit BTC as collateral and mint $SAT stablecoin without incurring interest.
This initiative aims to empower miners by providing access to liquidity and enabling them to leverage yield opportunities without needing to sell their BTC holdings.
Conclusion
As you can see, it's been a whirlwind two weeks for Satoshi Protocol! But this is just the beginning. We're charting a course towards a future where Bitcoin unlocks its full potential, and we invite you to join us on this exciting voyage.Stay tuned for more updates!
About Satoshi Protocol
Satoshi Protocol is a universal stablecoin protocol built for Bitcoin. It empowers users to deposit their Bitcoin and LST as collateral to mint stablecoins SAT, on both Bitcoin mainnet and multiple L2s.
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