Yesterday, Bitcoin Layer2 project SatoshiVM completed IDO on the decentralized auction platform Bounce Brand and announced the token economics. The total supply of SAVM is 21 million, and the IDO price is 0.05 USDT. It has increased nearly 300 times since its launch, and the highest price is close to 15 USDT, which once again made countless people slap their thighs.
However, SatoshiVM is controversial. Today, Lookonchain detected that SatoshiVM transferred 11.5% of the total supply of SAVM (about 10.5 million US dollars) to 248 KOL addresses after the completion of IDO, and more than 60% of the tokens were transferred or sold. If true, perhaps the community really took over.
Back to the topic, as BoboShanti said, SatoshiVM has all the current hot spots: Bitcoin, Rollup, ZK, Taproot, Layer2. So, who is behind SatoshiVM? Today's article will reveal the big boss behind SatoshiVM.
First of all, through the Github of SatoshiVM, we know that the first code submission of the project was on January 5, 2024, and there were 4 code contributors, including satoshidev1, PTOnece, 0xlagoon and tb1p. The Github account of satoshidev1 was created two weeks ago, and the others were created 5 days ago.
SatoshiVM also has very few repositories on Github. Currently, there are only a few categories including white paper, yellow paper, Blockscout fork, SatoshiVM website, cross-chain bridge and airdrop contracts. The latter two repositories are still empty.
But the truth is definitely more than that. Even the best developers cannot develop a new Bitcoin Layer2 Rollup using ZK technology in two weeks.
I dug into the Sepolia testnet again and found an unverified contract. This may be a cross-chain bridge contract that allows the testnet SAVM to be cross-chained from Sepolia to the SatoshiVM testnet and vice versa.
By decompiling the contract with Dedaub, we can find some special signatures and function names. The most interesting one is that "anchor" is mentioned many times. "receiveFromAnchor" is not a common function name.
Then, I tried to find out if there were other contracts that also used "receiveFromAnchor", and finally found that Bool Network developed an AMT cross-chain bridge contract called TokenBridge.sol. This contract uses the same function name and event, and the SatoshiVM version seems to be a direct implementation of this contract.
Bool Network is a decentralized signature protocol established in late 2020. The team has been researching Bitcoin Layer2 solutions and published an academic paper in 2022, Bool Network: An Open, Distributed, Secure Cross-Chain Notary Platform.
Once I saw the Bool Network explorer, I was already sure that SatoshiVM was using Bool Network. It is important to note that Bool Network supports the SatoshiVM testnet and has supported the SatoshiVM development network since January 5, 2024, while most people knew about the SatoshiVM project much later.
The Bool Network browser also has the SatoshiVM development network and test network logos. If the Bool Network team hadn’t added them themselves, these logos would never have appeared.
Therefore, it can be said that the SatoshiVM team and the Bool Network team are directly related.
Going a step further, without delving into the technical details, each cross-chain bridge needs to deploy an "Anchor" contract on its respective chain, which is deployed by interacting with the "AnchorFactory" contract on each chain. The Anchor contract on both Sepolia and SatoshiVM testnets is deployed via 0x66feD255e376c5E5495384A8aBc01a1AA65aFE8a.
If we look at the Bool Network documentation again, we can find that the team had launched the AnchorFactory contract address on the Sepolia testnet in May 2023.
So, who deployed AnchorFactory? The answer has also surfaced, which is the 0x66feD255e376c5E5495384A8aBc01a1AA65aFE8a address that deployed the SatoshiVM Anchor contract.
Obviously, SatoshiVM and Bool Network are from the same team. But strangely, SatoshiVM does not mention Bool Network at all.
It is worth noting that Bool Network has not yet issued tokens. 3% of its BOOL tokens will be airdropped to the community, and 10% of the tokens will be airdropped to testnet users. However, considering the distribution, most of the BOOL may be directly allocated to SatoshiVM, after all, SatoshiVM is one of the main development work of Bool Network.
Interestingly, after this Twitter Threads was posted, Bool Network has tweeted to acknowledge that "the team is working closely with the SatoshiVM team to develop infrastructure in the Bitcoin and EVM fields."