Satoshi Protocol won 3rd place at the Anduro Hackathon, hosted by Marathon, a leading Bitcoin miner.
Our demo product, launched on the Alys testnet, introduces new features aimed at improving Bitcoin’s stability and security, reinforcing our commitment to a more secure and efficient Bitcoin ecosystem.
We are excited to see projects like Satoshi Protocol deploy on Anduro sidechains, which are designed to scale Bitcoin and accelerate new Bitcoin use cases.
Stablecoins are essential components of decentralized economies and we look forward to seeing how our ecosystem flourishes with new projects reimagining DeFi on Bitcoin
– Anduro Team
What Is Satoshi Protocol?
Satoshi Protocol is a universal stablecoin protocol backed by Bitcoin. It allows users to deposit BTC, staked BTC, or USDC as collateral to mint the stablecoin $SAT.
The protocol operates on both the Bitcoin mainnet and multiple Layer-2. By unlocking liquidity, Satoshi Protocol enables Bitcoin holders to access liquidity without selling their assets.
What are Anduro and the Alys Testnet?
Anduro is a Bitcoin Layer-2 platform designed to maximize Bitcoin's potential. Backed by Marathon Digital, Anduro offers:
- BTC Resources: Deep connections with the Bitcoin mining industry, providing extensive access to Bitcoin.
- RWA Integration: Incorporates real-world assets, enhancing the DeFi ecosystem.
- Scalability: Enables fast, efficient transfer of on-chain assets.
- Security: Protects against MEV attacks to safeguard user funds.
The Alys Testnet, a product being rolled out by the Anduro team, focuses on integrating real-world assets and providing a secure environment for testing DeFi projects.
How to Use Satoshi Protocol on Alys Testnet
Our demo product was presented to the Anduro team, earning us 3rd place at the hackathon. Here’s how you can get started with Satoshi Protocol on the Alys testnet:
- Navigate to “Position”, and select “Create”
- Deposit BTC as collateral and mint $SAT stablecoin
- Add the $SAT contract address to your wallet.
With the $SAT stablecoin, you’ll be able to:
- Unlock Liquidity: Access funds without selling your Bitcoin holdings, maintaining your investment position while gaining liquidity.
- Leverage Yield: Borrow $SAT against your Bitcoin to amplify your investment returns through various DeFi opportunities.
- Participate in DeFi: Engage in BTCFi and other DeFi applications to generate additional yield and expand your financial portfolio.
- Utilize Real-World Assets: Benefit from the integration of real-world assets as collateral and stablecoin payment solutions, expanding the practical applications of $SAT in various scenarios.
Looking Ahead
Winning 3rd place at the Anduro Hackathon and deploying our demo product on the Alys testnet are important milestones for Satoshi Protocol.
These achievements highlight our progress in creating a stablecoin that allows users to access Bitcoin liquidity without selling their assets.
We invite you to join us in utilizing $SAT to unlock Bitcoin liquidity and advance along with us in the development of the DeFi sector.
About Satoshi Protocol
Satoshi Protocol is a universal stablecoin $SAT backed by Bitcoin. It allows users to deposit BTC as collateral to borrow the stablecoin $SAT on both Bitcoin mainnet and multiple L2s, offering many opportunities to maximize value.
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