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