BINANCE WALLET JOINS FORCES WITH BITCOIN L2 ‘BEVM’ AND SATOSHI PROTOCOL

- @Binance ’s Web3 wallet service, just a few days ago, announced it was teaming up with leading #Bitcoin layer-2 network, BEVM (@BTClayer2 ), as well as its ecosystem project, @SatoshiBEVM .

- The collaboration accompanied an airdrop campaign ‘worth millions’, and is designed to encourage users to bridge their BTC$BTC to BEVM via Binance’s own wallet service.

- Users that do so and also borrow at least $10 worth of SAT$SAT (the project’s own stablecoin), “will be eligible to share a pool of 500k OSHI and 10.5 million BEVM tokens”.

- Said initiative has managed to attract a whopping 30,000 participants in just 3 days.

- Satoshi Protocol is the very first collateralized debt position (CDP) protocol to be built atop the BEVM L2 itself.

- It aims to provide BTC$BTC oriented liquidity via its SAT$SAT US dollar stablecoin.

“By enabling users to borrow SAT with their Bitcoin as collateral, Satoshi Protocol offers a reliable liquidity solution within the Bitcoin ecosystem”, reads a sponsored release on Cointelegraph.

- BEVM itself, meanwhile, looks to set itself apart from other Bitcoin L2s by…

“Leveraging Taproot consensus, Schnorr signatures, MAST, and Bitcoin SPV” to achieve the “highest level of decentralization and security among all BTC Layer 2 solutions”

Image: BEVM

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