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

ChainCatcher news, Bitcoin ecosystem stablecoin Satoshi Protocol announces the completion of its seed round financing. This round raised a total of $2 million, 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, as well as 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 dollar stablecoin $SAT by depositing BTC and other BTC-based yield-bearing assets at a collateralization rate of 110%, and participate in trading, liquidity pools, lending, and other scenarios to earn returns. Since its launch 3 months ago, the protocol has been officially deployed on BEVM and Bitlayer mainnet, and has also connected to testnets such as BOB, Botanix, B², Anduro (incubated by MARA), and Omni Network for closed testing.

The team is committed to expanding the use cases of the SAT stablecoin, having reduced the interest for minting stablecoins to 0%, aiming to encourage users and projects to co-build the BTC ecosystem. The latest announcement states that Satoshi Protocol is developing a Runes stablecoin based on the Bitcoin mainnet, and is also collaborating with projects like Omni Network to bridge the Bitcoin and Ethereum ecosystems to achieve the vision of "full-chain stablecoin."