· 4 min read

Satoshi Protocol now accepts Lorenzo stBTC as collateral on Bitlayer

Support stBTC, issued by Lorenzo Protocol, as collateral for borrowing SAT.

Satoshi Protocol now accepts Lorenzo stBTC as collateral on Bitlayer

Satoshi Protocol is excited to announce that we now support stBTC, issued by Lorenzo Protocol, as collateral for borrowing our stablecoin, SAT!

Lorenzo Protocol is a liquid restaking protocol that enables users to earn yield on their staked Bitcoin while maintaining asset liquidity for seamless DeFi exploration, allowing Bitcoin holders to maximize their holdings within the dynamic DeFi ecosystem.

Deposit stBTC and borrow SAT on Satoshi now to earn 3x points! Take action today and boost your rewards!

Deposit stBTC

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

What is Lorenzo?

Lorenzo Protocol emerges as the Bitcoin Liquidity Finance Layer of Bitcoin DeFi, meticulously crafting the First Liquid Restaking Protocol on Bitcoin. With a vision to become the premier platform for yield-bearing token issuance, trading, and settlement through Babylon, Lorenzo Protocol has transformed the way users interact with staked Bitcoin.

Its ingenious mechanism, stBTC, empowers users to enjoy the yield-generating benefits of Bitcoin staking while simultaneously maintaining the flexibility to trade and utilize their assets across the DeFi landscape.

Lorenzo Protocol

What is stBTC?

stBTC, standing for “stacked Bitcoin,” is a revolutionary token introduced by Lorenzo Protocol. It’s designed to unlock the full potential of your Bitcoin by combining the benefits of staking with the flexibility of a tradable asset.

At its core, stBTC is a representation of your staked Bitcoin that can be freely traded on BTCFi platforms. This means you can earn passive income from staking your Bitcoin while simultaneously enjoying the liquidity and flexibility of a tradable token.

How to Receive stBTC from BTC

Step1. Withdraw BTC to your Taproot address(bc1p) on mainnet

Step2. Visit Lorenzo Protocol and Connect with OKX Wallet

Step3. Stake BTC and receive stBTC

Stake BTC

Once the transaction is processed, you will receive stBTC in your connected wallet.

Step 4: Bridge Your stBTC to Bitlayer

Navigate to “Bridge stBTC”, enter the amount of stBTC you want to bridge from Lorenzo to Bitlayer.

Bridge BTC to Bitlayer

How to Borrow SAT with stBTC via Satoshi Protocol

To unlock these benefits and leverage stBTC as collateral on Satoshi Protocol, follow these steps:

  1. Visit Satoshi Protocol, connect your wallet, and switch to Bitlayer.
  2. Navigate to the “Position” tab, find “stBTC” and click “Create Position”.
  3. Input stBTC amount and borrow SAT (at least 100 SAT)
  4. Approve transaction and click “Create Position”
Step by Step Video Guide

Why this Integration is Important

This strategic integration resonates with users, offering a multitude of benefits that empower them to navigate the DeFi landscape with newfound confidence:

A Testament to the Power of BTCFi

The integration between Satoshi Protocol and Lorenzo Protocol stands as a testament to the transformative power of collaboration in the BTCFi space. By uniting our expertise and shared vision, we have crafted a solution that not only benefits our respective users but also drives innovation and growth across the entire BTCFi ecosystem.

About Lorenzo Protocol

Lorenzo Protocol is pioneering the development of the First Liquid Restaking Protocol on Bitcoin with the goal of becoming the premier platform for yield-bearing token issuance, trading, and settlement through Babylon.

Website | Twitter | Telegram | Medium | Docs

About Satoshi Protocol

Universal stablecoin $SAT backed by Bitcoin. Use BTC as collateral to borrow $SAT across the entire Bitcoin ecosystem.

Website | Web APP | Twitter | Telegram | Discord | Docs | Blog

Read next