Satoshi Protocol has supported wstBTC as collateral to lend stablecoin SAT, and TVL increased by $1.5 million in 24 hours

PANews reported on April 24 that according to the latest official news from Satoshi Protocol, the protocol has reached cooperation with Bido, the liquidity staking agreement on the BEVM ecosystem, to support the liquidity staking token wstBTC as collateral to lend the stable currency SAT to expand the agreement. Application scenarios.

Bido is a liquidity staking protocol based on BEVM. Users can obtain stBTC by staking BTC and obtain staking income while maintaining liquidity. The current currency-based APY is around 80%, and revenue comes from 50% of the current GAS revenue of the entire BEVM network. Bido will provide users who participate in the pledge with stBTC equivalent to the pledged amount, which can be used as collateral to lend SAT on the Satoshi Protocol after being converted into wstBTC.

Satoshi Protocol is the first over-collateralized stablecoin protocol on the BEVM network. It was launched on the mainnet in early April and launched an airdrop event in conjunction with Binance Wallet and BEVM, with 140,000 participating addresses. After Satoshi Protocol supported wstBTC as collateral, it launched on 24 TVL has added $1.5 million in hours.