Satoshi Protocol Funding Round

7/15/2024

Venture Equity

$2,000,000

Seed

The company intends to use the funds to accelerate its development roadmap, which is divided into four distinct phases: The initial phase focused on establishing a solid foundation by completing risk management assessments and audits in June 2024. The current phase prioritizes attracting additional liquidity from multiple Layer 2 and Layer 1. This focus on liquidity aggregation will be crucial for establishing $SAT as a widely adopted and reliable stablecoin within the ecosystem. This phase will see the development of the Nexus Yield Module (NYM). This module will increase the utility of $SAT by allowing users to participate in yield-generating opportunities with USDT, USDC, and other stablecoins. The final phase will be dedicated to the seamless adoption of NYM across the Bitcoin mainnet and execution layers integrated with various L2. This widespread integration will solidify $SAT's position as a universal stablecoin in the BTCFi space.

Private & Independent

Software

Undisclosed
Austin, TX Undisclosed
USA

Undisclosed

Not Recorded

Your secure gateway to DeFi with Bitcoin; We ensure stability, profitability, and security of your investments with these key features. Over-collateralization: Ensures protocol security and stability, with every issued SAT backed by more than its value in collateral. Liquidation Mechanism: Instant and permissionless liquidations ensure protocol security while maximizing capital efficiency. Peg Mechanism: Market arbitrage and redemption mechanisms ensure SAT always maintains its value equivalent to one dollar.