Satoshi Testnet Recap : 100k+ participants and the Road to Mainnet
Satoshi Protocol successfully concluded this two-week testnet on March 18, 2024. The testnet achieved the following milestones:
- Over 80,000 Genesis Spark NFTs were minted.
- All 25,000 limited OATs were distributed.
- Participation exceeded 100,000 addresses
We appreciate community for your participation during the testnet phase. As the first CDP project built on the BEVM ecosystem, Satoshi Protocol will now shift its focus towards preparing for the mainnet launch.
What is Satoshi Protocol
Satoshi Protocol is the first Collateralized Debt Position (CDP) protocol within the BEVM ecosystem, aimed at providing liquidity for BTC through the SAT dollar stablecoin, expanding the scenarios of BTCFi.
This move unlocks the potential trillion-dollar liquidity within the Bitcoin ecosystem, offering users a way to maintain Bitcoin holdings while gaining liquidity.
Milestones
Over the past few weeks, the Satoshi Protocol team has been working hard with our early supporters to achieve some exciting milestones!
Here’s what we accomplished together :
- February 24th : Satoshi Protocol launched on BEVM testnet
- February 28th : First limited OAT campaign on Galxe.
- March 1st: All 1,000 Testnet Launch OATs were minted within 3 hours.
- March 6th: Testnet Campaign Launched. Genesis Spark NFT and Satoshi Pioneer OAT released.
- March 12th: All 25,000 Satoshi Pioneer OATs were minted.
- March 13th: First Ask Me Anything (AMA) session on Discord, with limited OATs.
- March 18th: The testnet campaign ended, and the minting of Genesis Spark NFTs concluded.
Over 100,000 users participated in the testnet and related campaigns.
This successful testnet phase represents a major step forward for Satoshi Protocol as they prepare for their mainnet launch. The distribution of NFTs and OATs demonstrates the project’s commitment to rewarding its early supporters.
February 24th : Introducing Satoshi Protocol
We unveiled ourselves as the first BEVM-based protocol for issuing BTC-backed stablecoins. This paves the way for the introduction of SAT, a stablecoin with the potential to unlock the immense liquidity of Bitcoin (BTC) and become a cornerstone for the burgeoning field of BTCFi.
Our initial announcement on Twitter generated significant traction, attracting a wave of early adopters interested in our vision.
February 28th : Satoshi Launch on BEVM testnet
Satoshi Protocol launched on BEVM testnet on February 28th, and released the unlimited OAT on Satoshi Protocol. Welcome users to experience Satoshi APP throught depositing BTC as collateral to borrow SAT.
To participate, follow @SatoshiBEVM @BTCLayer2 on Twitter, retweet, tag your friends, and visit our website to claim your OAT. Each qualified address is entitled to claim a Testnet Launch OAT.
March 1st : Satoshi Frontier OAT
We launched a limited edition of 1,000 Satoshi Frontier OATs, and they were all minted within just 3 hours!
March 6th : Testnet Campaign — Genesis Spark NFT
Since launching on the BEVM Testnet on February 28th, Satoshi Protocol has gained 15k Twitter followers, 3.5k Telegram members, and 3k Discord members.
We launched the Genesis Spark NFT on March 6th, aiming to highlight Bitcoin’s potential. Users can mint this NFT until March 18th, 2024, by following specific steps on our platform.
This effort is part of our initiative to provide liquidity for Bitcoin through the SAT stablecoin. Read our announcement for details on how to participate.
March 7th : Satoshi Pioneer OAT
Satoshi released 25,000 Satoshi Pioneer OATs. To be eligible, users need to follow Satoshi on Twitter, retweet, and create a position by depositing SAT in the Satoshi APP on the BEVM testnet. Each qualified address can claim one Satoshi Pioneer OAT.
March 12th : 25k Satoshi Pioneer fully claimed
On March 12th, all 25,000 Satoshi Pioneer OATs were fully claimed. It only took 6 days, marking a successful campaign engagement for Satoshi Protocol.
March 13th : First Community AMA
On March 13th, we hosted an AMA on our Discord, featuring with co-founder, Gimmy.
During AMA session, Gimmy provided an overview of Satoshi, delved into the team’s diverse backgrounds, and unpacked the protocol’s mechanisms.
March 18th : 80k Genesis Spark NFT minted
The 14-day campaign on the BEVM Canary Testnet has officially concluded. We minted over 80,000 NFTs and saw participation from over 100,000 addresses.
What’s Next
We’ve confirmed that the Satoshi Protocol will soon be launching on the mainnet alongside BEVM.
Team has been focusing on auditing contracts and has collaborated with several ecosystem projects to broaden the use cases for SAT.
This effort aims to ensure the security and integrity of the protocol while also expanding its applicability and utility across different scenarios within the ecosystem.
For our NFT and OAT holders, we’re unable to disclose or promise any specific future benefits at this time.
Please note, this message is not investment advice or a suggestion to trade any Satoshi-related NFTs or OATs. Our focus is on acknowledging and appreciating the support of our community. Always conduct your own research and consider your financial situation before making any investment decisions.
Thank you for joining us on our BTCFi journey. Stay tuned for the exciting mainnet launch ahead.
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