Satoshi Protocol, a full-chain stablecoin protocol, completes $2 million seed round financing and will actively expand the Bitcoin ecosystem

Bitcoin ecosystem stablecoin protocol Satoshi Protocol announced the completion of its seed round financing. The total amount raised in this round 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).Satoshi Protocol is the first over-collateralized stablecoin protocol in the Bitcoin ecosystem. Users can mint the USD stablecoin $SAT by depositing BTC and 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 three months and is also being tested on BOB, Botanix, B², Anduro (incubated by MARA), and Omni Network testnets at the same time. The team is committed 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 Bitcoin ecosystem. The latest announcement states that Satoshi Protocol is developing a Bitcoin-based rune stablecoin, and is also collaborating with projects such as Omni Network to connect the Bitcoin and Ethereum ecosystems to achieve the vision of "full-chain stablecoins".