Satoshi Protocol Secured Pre-Seed Funding, Led by Web3Port Foundation and Waterdrip Capital
Satoshi Protocol has closed Pre-seed funding, led by Web3Port Foundation and Waterdrip Capital, with participating institutions including BEVM Foundation, Cogitent Venture, Satoshi Lab, GP of MH Venture/co-founder of BSCnews, Movebit, Supremacy.
Satoshi Protocol is the first CDP protocol built on BEVM, users could deposit BTC as collateral to borrow stablecoin SAT. This serves as the cornerstone for BTCFi to unleash trillions worth of Bitcoin.
Thanks to all institutions for supporting Satoshi, and special thanks to the community, because of you Satoshi can be seen by more people. This is an important milestone and represents Satoshi’s first step towards the BEVM ecosystem, with more developments to be announced.
The Pre-seed funding will be used for product development, ecosystem building, and community expansion of Satoshi Protocol.
Thanks also to the institutions for providing technical, financial, and other resources to support Satoshi in becoming part of the Bitcoin ecosystem construction.
Expectations from our Investors
We are thrilled to be part of the BTCFi ecosystem and are optimistic about Satoshi Protocol’s ability to unlock the trillions of Bitcoin liquidity hidden within the ecosystem.
— Web3Port
Bitcoin Layer2 represents a whole new playing field. With the influx of traditional finance ‘hot money’ following ETF approvals and the halving narrative, we are bullish on the potential of Bitcoin Layer2 ecosystem. Satoshi has a greater chance to become an essential piece within BTCFi.
— Waterdrip Capital
BEVM is pleased to see the development of various projects within the ecosystem. The official will continue to support builders on BEVM, assisting Satoshi in expanding its BTC-based decentralized stablecoin to various scenarios.
Satoshi Protocol is very likely to become the largest native stablecoin project in the Bitcoin ecosystem. In the future, Bitcoin Network and other Bitcoin L2s will use stablecoin $SAT as the cornerstone of DEFI.
— BEVM Foundation
Conclusion
Satoshi Protocol thanks all investors for their support. As the testnet campaign concludes, the team is fully prepared for the mainnet launch.
We also thank the community for support and participation, inviting everyone to join us on the journey of building the BTC ecosystem.
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