We are excited to announce a strategic partnership between Satoshi Protocol and Bido, a leading Bitcoin liquidity staking protocol on the BEVM.
This collaboration marks a significant step forward in enhancing the Bitcoin DeFi (BTCFi) ecosystem by integrating staking solutions with our CDP offerings.
What is Bido Finance
Bido Finance is a liquid staking protocol for Bitcoin on the BEVM network, inspired by Lido on Ethereum. It allows users to stake their BTC and receive stBTC tokens in return. These stBTC tokens represent the staked BTC and can be seamlessly integrated into various DeFi applications.
Bido marked its official arrival on the BEVM network on March 31st, 2024. Users staking their Bitcoin on Bido were once rewarded with a remarkable 534% APR, setting a new standard for Bitcoin staking returns
How This Partnership Benefits Users
Our collaboration with Bido Finance offers several key advantages:
- Enhanced Liquidity for SAT : By accepting wstBTC as collateral, users can borrow SAT using their staked BTC, which is stBTC and wrap to wstBTC. This increases the liquidity and utility of SAT within the ecosystem.
- Expanded Trading Options: Users can leverage their wstBTC to participate in broader financial activities without needing to sell their Bitcoin holdings.
- Increased Yield Opportunities: Holders of wstBTC can access additional services offered by Satoshi Protocol, potentially increasing yield.
- Integrated Ecosystem Growth: This partnership aligns two core services within the BEVM ecosystem, paving the way for further integration and collaborative opportunities between Satoshi Protocol and other projects.
We support the partnership between Satoshi Protocol and Bido as it aligns with our goal to broaden Bitcoin’s use in DeFi.
This initiative leverages Satoshi’s and Bido’s model to enhance user benefits and innovation within Bitcoin Ecosystem.
BEVM Foundation
A Shared Vision for BTCFi
Together with Bido Finance, we are committed to unlocking the full potential of BTCFi. This partnership underscores our dedication to providing innovative, secure, and beneficial solutions to Bitcoiners.
We believe that by joining forces with Bido, we can enhance the functionality and reach of our platform, making Bitcoin a more accessible and versatile asset in the DeFi sector.
About Bido Protocol
Bido is a BTC liquidity staking protocol built on the BEVM. By staking BTC, users can access yield by holding stBTC. By staking with Bido, your tokens remain liquid and can be used in a range of DeFi applications to earn additional rewards.
About Satoshi Protocol
Satoshi Protocol is the first CDP protocol built on BEVM. Users could deposit BTC as collateral to borrow stablecoin SAT. This serves as the cornerstone for BTCFi to unleash trillions worth of Bitcoin.
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