Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Satoshi Protocol has supported wstBTC as collateral to lend stablecoin SAT, with an increase of $1.5 million in TVL per day

Satoshi Protocol has supported wstBTC as collateral to lend stablecoin SAT, with an increase of $1.5 million in TVL per day

CointimeCointime2024/04/24 09:25
By:Cointime

Satoshi Protocol has announced that it has reached a cooperation with Bido, a liquidity staking protocol on the BEVM ecosystem, to support the use of wstBTC as collateral to borrow stablecoin SAT, thus expanding the application scenarios of the protocol.Bido is a liquidity staking protocol based on BEVM, which allows users to obtain stBTC by pledging BTC and earn staking rewards while maintaining liquidity. The current coin-based APY is around 80%, and the source of income comes from 50% of the GAS revenue of the entire BEVM network. Bido will provide users who participate in staking with stBTC equivalent to the amount of their pledge, which can be used as collateral to borrow SAT on Satoshi Protocol after being converted to wstBTC.Satoshi Protocol is the first over-collateralized stablecoin protocol on the BEVM network. It was launched on the mainnet in early April and conducted airdrop activities in collaboration with Binance Wallet and BEVM. The number of participating addresses reached 140,000. After supporting wstBTC as collateral on Satoshi Protocol, the TVL increased by $1.5 million within 24 hours.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!