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Satoshi Protocol: First CDP on Bitcoin Layer2, 500k OSHI Airdrop with Binance wallet and BEVM

Satoshi Protocol: First CDP on Bitcoin Layer2, 500k OSHI Airdrop with Binance wallet and BEVM

Singapore, Singapore, April 10th, 2024, Chainwire

On April 4th, Binance Web3 Wallet joined forces with BEVM, a leading Bitcoin Layer2, and its ecosystem project, Satoshi Protocol, to launch an airdrop campaign worth millions.

Users who bridge BTC to the BEVM via Binance Web3 Wallet and borrow at least $10 SAT (USD-stablecoin) will be eligible to share a pool of 500k OSHI and 10.5 million BEVM tokens. The campaign has attracted over 30,000 participants in just 3 days since its launch.

Satoshi Protocol is the first CDP protocol built on BEVM, live on BEVM mainnet on March 28th. In addition to the Binance campaign, there’s a referral program that allows early participants to accumulate points by borrowing the SAT and inviting friends.

What makes BEVM unique?

BEVM is an EVM-compatible Bitcoin Layer 2 solution that stands out in the crowded market. By leveraging Taproot consensus, Schnorr signatures, MAST, and Bitcoin SPV, BEVM achieves the highest level of decentralization and security among all BTC Layer 2 solutions.

Key features of BEVM:

  • Native BTC Layer 2: BEVM utilizes BTC as the network gas and stores transaction data on the BTC mainnet, ensuring compatibility with the original Bitcoin protocol.
  • EVM compatibility: Developers can seamlessly migrate their Ethereum-based dApps to BEVM, expanding the reach of these applications to the Bitcoin ecosystem.
  • Decentralized and secure: BEVM employs Musig2 multi-signature aggregation and Bitcoin light nodes to achieve a trustless and secure environment.

Satoshi Protocol: Unleashing Bitcoin’s liquidity

Satoshi Protocol is the first Collateralized Debt Position (CDP) protocol built on BEVM, aiming at providing liquidity for BTC through the SAT dollar stablecoin, expanding the scenarios of BTCFi. This move unlocks trillion-dollar liquidity within the Bitcoin ecosystem, offering users a way to maintain Bitcoin holdings while gaining liquidity.

The Bitcoin ecosystem is experiencing a renaissance. Recent advancements like inscriptions and scaling solutions have revitalized the ecosystem. Satoshi Protocol’s team views the upcoming halving and the launch of the Runes protocol as poised to attract a wave of new users.

However, a critical challenge persists the lack of a reliable, fiat-pegged crypto for seamless trading and efficient market pricing. This is where Satoshi Protocol steps in. By enabling…

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