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💯⚡️🧙♂️🪞$SPX Spotlight
As $BTC hits all-time highs and $ADA now identifies as a BTC L2 solution, the crypto market is abuzz with activity. Among the noise, meme coins are emerging as a significant force, capturing the attention of both new and seasoned investors. In this fast moving industry, let's dive into one of the most powerful communities in this cycle, spotlighted in Murad Mahmudov's meme coin supercycle thesis; SPX6900.Murad's List 🌈Murad Mahmudov has been a prominent figure in the crypto sp...
💯⚡️🧙♂️🪞$XAI Treasury
Treasury manager, agent Archie Sterling III has been moving capital into the treasury at an accelerated pace for the past few weeks. Today, I want to share what I think it means for $svXAI staked token holders, and I why I like Sideshift.ai. Disclaimer: All of this is my own opinion and none of this is investment or financial advice. Do your own research on these crypto collectibles. Let's start with some history. Back in the 20th century, classic value investing was both an art and a sc...
💯⚡️🧙♂️🪞45 - Back from Vacation
Greetings, fellow investors, speculators, gamblers, degens, and builders. I'm back and diving deep into the burgeoning BTC ecosystem. With the recent surge of scaling solutions, the space is experiencing a Cambrian explosion of projects. I've personally invested in the BOB ecosystem through their Spice points program. While I'm familiar with projects like Babylon and Botanix, I'm particularly intrigued by Babylon's expansion of their LST and LRT protocols to other BTC...
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💯⚡️🧙♂️🪞$SPX Spotlight
As $BTC hits all-time highs and $ADA now identifies as a BTC L2 solution, the crypto market is abuzz with activity. Among the noise, meme coins are emerging as a significant force, capturing the attention of both new and seasoned investors. In this fast moving industry, let's dive into one of the most powerful communities in this cycle, spotlighted in Murad Mahmudov's meme coin supercycle thesis; SPX6900.Murad's List 🌈Murad Mahmudov has been a prominent figure in the crypto sp...
💯⚡️🧙♂️🪞$XAI Treasury
Treasury manager, agent Archie Sterling III has been moving capital into the treasury at an accelerated pace for the past few weeks. Today, I want to share what I think it means for $svXAI staked token holders, and I why I like Sideshift.ai. Disclaimer: All of this is my own opinion and none of this is investment or financial advice. Do your own research on these crypto collectibles. Let's start with some history. Back in the 20th century, classic value investing was both an art and a sc...
💯⚡️🧙♂️🪞45 - Back from Vacation
Greetings, fellow investors, speculators, gamblers, degens, and builders. I'm back and diving deep into the burgeoning BTC ecosystem. With the recent surge of scaling solutions, the space is experiencing a Cambrian explosion of projects. I've personally invested in the BOB ecosystem through their Spice points program. While I'm familiar with projects like Babylon and Botanix, I'm particularly intrigued by Babylon's expansion of their LST and LRT protocols to other BTC...
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Share Dialog
Today, let's explore satUSD, a BTC-backed stablecoin on the BOB chain. We'll review what satUSD is, the protocol behind it, and its use cases. Let's jump right in.
satUSD is a BTC-backed stablecoin pegged to the US dollar, produced by the Satoshi Protocol. Its smart contract is multi-chain compatible, allowing satUSD to be minted on BEVM, Bitlayer, and, today's highlight, the BOB blockchain.
satUSD is backed by BTC, meaning all satUSDs are minted from a CDP (collateralized debt position), where wrapped BTC and LSD BTCs are used as collateral. These positions are over-collateralized, ensuring that for every satUSD, there's more than 100% of the price in BTC backing it. You can verify this on their dApp here.
Each synthetic BTC has its own collateral threshold. The liquidation threshold starts at 110% and goes higher to 120% depending on the synthetic BTC's risk assessment.
Satoshi Protocol deploys a Nexus Yield Module, which utilizes USDC and USDT within the protocol to accrue yields as a liquidity source, pegging satUSD when users convert between the three tokens. The stablecoin yield goes to the treasury. Satoshi Protocol plans to launch the OSHI token, a utility token, expanding the use case of satUSD through governance, pool incentivization, and future ventures.
Mint satUSD: Connect your wallet to the dApp, collateralize your BTC assets, and mint satUSD.
Lend and Borrow: Head to lending/borrowing markets like Segment Finance to lend out your satUSD and earn yield.
DEX Activities: Create a stable pool position pairing satUSD with USDT and provide liquidity on DEXs such as OKU.
Stability Pool: Deposit satUSD into Satoshi Protocol's stability pool, providing liquidity for positions below the collateral threshold. If a user deploys their asset into this pool, they purchase liquidated collateralized positions at a discount—great for those wanting to DCA into Bitcoin.
Users can create CDPs and mint the stablecoin with 0% APR. There is no interest charged for creating satUSD positions (a 2 satUSD minting fee is credited back when the position is closed).
Bob aims to be the go-to stop for BTCFi activity. Users can use satUSD to harvest SPICE. Currently, loaning out satUSD to Segment earns you SPICE, Satoshi, and Segment Points! Other DeFi activities like LPs on Oku and Sovryn will also earn SPICE points. If you want to put your BTC to use without the speculative nature of trading or the volatility of meme coins, try satUSD now!
This is a reprint from my T2
Today, let's explore satUSD, a BTC-backed stablecoin on the BOB chain. We'll review what satUSD is, the protocol behind it, and its use cases. Let's jump right in.
satUSD is a BTC-backed stablecoin pegged to the US dollar, produced by the Satoshi Protocol. Its smart contract is multi-chain compatible, allowing satUSD to be minted on BEVM, Bitlayer, and, today's highlight, the BOB blockchain.
satUSD is backed by BTC, meaning all satUSDs are minted from a CDP (collateralized debt position), where wrapped BTC and LSD BTCs are used as collateral. These positions are over-collateralized, ensuring that for every satUSD, there's more than 100% of the price in BTC backing it. You can verify this on their dApp here.
Each synthetic BTC has its own collateral threshold. The liquidation threshold starts at 110% and goes higher to 120% depending on the synthetic BTC's risk assessment.
Satoshi Protocol deploys a Nexus Yield Module, which utilizes USDC and USDT within the protocol to accrue yields as a liquidity source, pegging satUSD when users convert between the three tokens. The stablecoin yield goes to the treasury. Satoshi Protocol plans to launch the OSHI token, a utility token, expanding the use case of satUSD through governance, pool incentivization, and future ventures.
Mint satUSD: Connect your wallet to the dApp, collateralize your BTC assets, and mint satUSD.
Lend and Borrow: Head to lending/borrowing markets like Segment Finance to lend out your satUSD and earn yield.
DEX Activities: Create a stable pool position pairing satUSD with USDT and provide liquidity on DEXs such as OKU.
Stability Pool: Deposit satUSD into Satoshi Protocol's stability pool, providing liquidity for positions below the collateral threshold. If a user deploys their asset into this pool, they purchase liquidated collateralized positions at a discount—great for those wanting to DCA into Bitcoin.
Users can create CDPs and mint the stablecoin with 0% APR. There is no interest charged for creating satUSD positions (a 2 satUSD minting fee is credited back when the position is closed).
Bob aims to be the go-to stop for BTCFi activity. Users can use satUSD to harvest SPICE. Currently, loaning out satUSD to Segment earns you SPICE, Satoshi, and Segment Points! Other DeFi activities like LPs on Oku and Sovryn will also earn SPICE points. If you want to put your BTC to use without the speculative nature of trading or the volatility of meme coins, try satUSD now!
This is a reprint from my T2
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