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Universal stablecoin backed by Bitcoin

Satoshi Protocol

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Description

Satoshi Protocol is a decentralized finance (DeFi) platform enabling Bitcoin-backed liquidity. It offers SAT, an over-collateralized stablecoin pegged to the US dollar, and OSHI, a utility token. Users mint SAT by depositing Bitcoin as collateral, ensuring capital efficiency while maintaining a minimum collateral ratio. SAT can be used in various DeFi ecosystems, including liquidity provision and staking. The protocol's liquidation and peg mechanisms ensure the stability of SAT, which integrates with multiple blockchains, including Bitcoin and Ethereum.

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Added On:

September 15, 2024

Last Update:

December 18, 2024

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DYOR - Do your own research!

This content is for informational and educational purposes only, it is not financial advice. Please be aware that there is inherent risk associated with endeavors like this. Factors such as exploit vulnerabilities, rugpulls, contract risks, and liquidation events are always present. While we provide information, it is crucial to understand that any actions you take based on this information are entirely your own decision. We assume no responsibility if outcomes do not align with your expectations. Proceed with caution and conduct thorough research. Additionally, keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly.