Satoshi Protocol has supported wstBTC as collateral to lend stablecoin SAT, and TVL has increased by $1.5 million in one day

2024-04-24 17:00:02BlockBeatsShare to:

According to BlockBeats, on April 24, according to the latest official news from Satoshi Protocol, the protocol has reached a cooperation with Bido, a liquidity pledge protocol on the BEVM ecosystem, to support the use of liquidity pledge tokens wstBTC as collateral to lend stablecoins SAT, thereby expanding the application scenarios of the protocol. Bido is a liquidity pledge protocol based on BEVM. Users can obtain stBTC by staking BTC, and obtain staking income while maintaining liquidity. The current currency-based APY is around 80%, and the income comes from 50% of the current GAS income of the entire BEVM network. Bido will provide users participating in the pledge with stBTC equal to the amount of pledged, which can be converted into wstBTC and used as collateral to lend SAT on the Satoshi Protocol. Satoshi Protocol is the first over-collateralized stablecoin protocol on the BEVM network. It was launched on the mainnet in early April and launched an airdrop campaign in conjunction with Binance Wallet and BEVM, with 140,000 participating addresses. After Satoshi Protocol supported wstBTC as collateral, TVL increased by US$1.5 million within 24 hours.

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