Satoshi Protocol has supported WstBTC as collateral to lend stablecoin SAT, the application scenarios of the protocol have expanded, and TVL has increased by 1.5 million US dollars per day

CoinVoice has recently learned that according to the latest official information from Satoshi Protocol, the protocol has reached a cooperation with Bido, a liquidity staking protocol in the BEVM ecosystem, to support the use of liquidity staking tokens wstBTC as collateral to lend stablecoins SAT, thereby expanding the application scenarios of the protocol.

It is reported that Bido is a liquidity pledge agreement based on BEVM. Users can obtain stBTC by staking BTC, and obtain pledge income while maintaining liquidity. The current currency-based APY is around 80%, and the income comes from 50% of the current GAS income of the entire BEVM network. Bido will provide users who participate in the pledge with stBTC equal to the pledged amount, which can be converted into wstBTC and used as collateral to lend SAT on Satoshi Protocol.

Satoshi Protocol is the first over-collateralized stablecoin protocol on the BEVM network. It was launched on the mainnet in early April and launched an airdrop campaign in conjunction with Binance Wallet and BEVM, with 140,000 participating addresses. After Satoshi Protocol supported wstBTC as collateral, the TVL increased by $1.5 million within 24 hours. [Original link]