Satoshi Protocol, a stablecoin protocol within the Bitcoin ecosystem, has announced the completion of a $2 million seed funding round. The round was led by CMS Holdings and RockTree Capital, with participation from Cypher Capital, Side Door Ventures, Optic Capital, Metalpha, Outliers Fund, Comma3, and angel investors Paul Taylor and Yenwen Feng. Satoshi Protocol allows users to mint USD stablecoins by depositing BTC and BTC-based yield assets with a 110% collateralization rate. The protocol has been deployed on various networks and is expanding its use cases within the Bitcoin ecosystem, including developing a new stablecoin based on Bitcoin mainnet and collaborating with projects like Omini Network to bridge Bitcoin and Ethereum ecosystems.

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<p>DeepTechFlow News: On July 9th, the Bitcoin ecosystem stablecoin Satoshi Protocol announced the completion of its seed round financing. The total amount of this round of financing is 2 million US dollars, led by CMS Holdings and RockTree Capital, with participation from Cypher Capital, Side Door Ventures, Optic Capital, Metalpha (NASDAQ: MATH, a subsidiary of Bitmain), Outliers Fund, Comma3, and angel investors Paul Taylor (ex-BlackRock) and Yenwen Feng (Perpetual Protocol).</p>
<p>Satoshi Protocol is the first over-collateralized stablecoin protocol in the Bitcoin ecosystem. Users can mint the USD stablecoin $SAT by depositing BTC and LST, among other BTC-based interest-bearing assets, with a collateralization rate of 110%, and participate in trading, liquidity pools, lending, and other scenarios to earn profits. The protocol has been officially deployed on the BEVM and Bitlayer mainnets for 3 months and has simultaneously connected to testnets such as BOB, Botanix, B², Anduro (incubated by MARA), and Omni Network for testing.</p>
<p>The team is dedicated to expanding the use cases of the SAT stablecoin and has reduced the interest on minting stablecoins to 0%, aiming to encourage users and projects to jointly build the BTC ecosystem. The latest announcement indicates that Satoshi Protocol is developing Runes stablecoins based on the Bitcoin mainnet. Additionally, through collaborations with projects like Omni Network, they aim to bridge the Bitcoin and Ethereum ecosystems to achieve the vision of "cross-chain stablecoins."</p>
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Satoshi Protocol Secures $2 Million Seed Funding to Expand Bitcoin Ecosystem