This private dinner hosted by Satoshi Protocol invited several ecological partners such as Satoshi, Solv, and Pell to participate. This book starts from the current situation of the stablecoin market and brings to the satUSD income strategy of the protocol’s recent growth and future launch.
Satoshi Protocol aims to build a financial network with BTC as the underlying asset. Users use Bitcoin as collateral to mint the stable currency satUSD, earn income in a safe environment, and participate in the DeFi ecosystem and application scenarios such as lending, trading, and payment. .
The three most concerning aspects of stablecoins: income, capital scale, and risk
Before 2024, discussions about the threefold dilemma of stablecoins were Stability, Capital Efficiency, and Decentralization; however, with the rise of stablecoins like Ethena and Usual Money in 2024, users are now most concerned with Yield, Capital Scalability, and Risk.
Ethereum's decentralized stablecoin DAI currently occupies 3% of the total market cap of 160 billion for stablecoins, while BTC's market cap is 4 times that of ETH; stablecoin protocols based on the BTC ecosystem have a growth potential of 30 billion USD.
TVL grows to 20M, 200,000 interactive addresses
During this sharing session, it was mentioned that the total locked value (TVL) of the Satoshi protocol has grown to 20M in the past 7 days, making it the fastest-growing stablecoin protocol on DeFiLlama; since its launch in April, it has collaborated with Binance Wallet, being the only BTC ecosystem stablecoin protocol working with Binance Wallet, and has also partnered with Bybit Wallet and Bitget Wallet for airdrop activities, accumulating over 200,000 interactive addresses, primarily from real users from exchanges.
BTCFi middleware, releasing liquidity and yield opportunities
The Satoshi Protocol has launched multiple Bitcoin Layer 2 solutions to date and has integrated over 20 partners and protocols; now users can not only deposit BTC but also use SolvBTC, stBTC, uBTC, and other BTC LST as collateral to mint satUSD.
satUSD can be staked in Satoshi to earn rewards, or held in the Stability Pool to earn from liquidated BTC collateral; users can obtain liquidity through satUSD without needing to sell BTC, thereby participating in the yield opportunities of Satoshi or DEX, Lending, and Restaking, maximizing their capital efficiency in a secure manner.
App v2 released, with subsequent launch of satUSD staking rewards
App v2 officially launched in early December, introducing Lite / Pro versions to make it easier for users to operate; the minimum minting amount is only $10 satUSD, making it more accessible compared to other stablecoin protocols.
It was also announced that Satoshi will launch satUSD staking in the next 1-2 months, allowing users to stake satUSD to earn an annual return of 8 - 25%, sourced from protocol revenue, CeDeFi strategies, and future token airdrop earnings.
The Solv Protocol has accumulated 2.5 billion USD worth of staked BTC, developing an on-chain micro strategy.
Solv co-founder COO Lesile shared that Solv has recently grown, accumulating 2.5B TVL, 28,000 BTC, and 500,000 users; not only whales, but there are also many retail addresses staking below 0.1 BTC, showing a wide user profile.
As everyone expects, Solv will soon announce its TGE plan. After the token release, the Solv team will conduct a Bitcoin Reserve Offering (BRO) aimed at purchasing more BTC as protocol reserves, creating an on-chain version of Micro Strategy, and providing more real returns for SolvBTC holders.
Lesile finally revealed that in the coming month, they will collaborate with Binance Wallet and OKX Wallet for activities, inviting users to follow their X account for the latest information.
Babylon Bitcoin Staking self-custody protocol, sharing BTC security to solve the cold start problem.
Babylon team member Jenks has years of developer relations experience and has assisted multiple public chain founders in addressing the cold start challenges of new chain economic security. The core of the cold start problem lies in the lack of initial security and funding support for emerging blockchains, making it difficult to gain the trust of users and capital, leading to unstable operation or development obstacles.
BTC Staking provides a solution to address the cold start problem. Babylon utilizes the security and economic value of Bitcoin to provide a stable operating foundation for new chains, lowering the cold start threshold and making it difficult for capital participants to act maliciously.
So what is Babylon and what has it achieved? Jenks introduced that Babylon is a Bitcoin self-custody staking protocol. Users can stake their BTC on the Bitcoin mainnet while maintaining control of their assets, providing security for multiple Bitcoin-Secured Networks (BSN) and earning rewards.
Babylon has expanded the third use case of native BTC 'Staking', allowing for direct participation in BTC mainnet staking without the need for trust or wrapping; this means your BTC is fully controlled by your own wallet and will not be transferred, while BTC staked in Babylon can contribute security to multiple Bitcoin Secured Networks (BSN) for rewards, and you can un-stake BTC at any time, simply waiting 7 days after making a request to freely transfer.
Its main structure consists of Bitcoin Stakers, Finality Providers, and Consumer Layer; users stake BTC and delegate it to Finality Providers to verify transactions occurring on the Consumer Layer, receiving rewards for providing and maintaining security. The Consumer Layer will distribute rewards to the Finality Providers, who will then distribute their multi-staking returns to BTC stakers to attract more BTC staking.
This architecture forms a trust market, allowing the security of BTC to be utilized across multiple scenarios.
Pell Network: A decentralized verification service network driven by BTC re-staking
Pell Network co-founder Makoto shared on-site how Pell brings the security of Bitcoin into the broader field of economic security, revealing that in addition to the main BTCFi projects, they have also expanded into AI and DePin partnerships, aiming to grow the 'Shared Security' market based on BTC security.
Pell Network is an Omnichain decentralized verification service (DVS) network based on BTC re-staking, providing economic security for various execution environments, virtual machines (VMs), and decentralized applications (Dapps) through the re-staking mechanism of liquid staking tokens (BTC LST).
The protocol has achieved a milestone of 600 million USD in TVL and 500,000 users, deployed across 16 chains including Bitlayer, BOB, and Hemi, integrating multiple Wrapped BTC and BTC LST assets as staking options.
Makoto emphasized user experience, as BTC holders do not want complex cross-chain DeFi operations; Pell simplifies the BTC re-staking process, allowing users to participate in BTC staking with one click through the Pell Network, providing security for the network and earning returns without the hassle of cross-chain operations, assisting emerging projects in launching their mainnets while ensuring economic security. Finally, it was announced that Pell's mainnet will launch within the next month, with over 10 reputable node operators from the industry participating, promoting Bitcoin re-staking and providing more possibilities for the shared security market, strongly supporting the acceleration of BTC ecosystem projects.
The VIP Party concluded successfully, focusing on future collaboration opportunities.
The VIP Party hosted by the Satoshi Protocol took place during the Taipei Blockchain Week, gathering ecosystem partners like Solv, Babylon, Pell, as well as projects like Hemi, Bitlayer, LayerBank, and investors from Comma3, The Spartan Group, and Outliers Fund for discussions.
Solv shared its achievement of accumulating over 2.5 billion USD in TVL and announced plans for a TGE, aiming to create an on-chain micro strategy. Babylon has completed Cap3 stage, with nearly 6 billion USD in BTC participating in staking, providing stable economic security for new chains, addressing the 'cold start' problem. Pell Network announced that it will launch its mainnet within a month, with DVS established based on BTC security capable of expanding to multiple scenarios outside BTC Layer 2.
The Satoshi Protocol introduced a staking function based on satUSD, allowing users to obtain an expected real yield of 8 - 10% and anticipated token airdrops within the BTC ecosystem, injecting more vitality into the BTC ecosystem.
This event not only shared each party's latest developments but also opened up more possibilities for future collaborations. The Satoshi Protocol will continue to work hand in hand with ecosystem partners to let more people see the potential and development opportunities of the BTC ecosystem.
This article is provided by the official content and does not represent the position or investment advice of this site; readers are advised to conduct their own due diligence.
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