July 09, 2024
Satoshi Protocol, a universal stablecoin designed for the Bitcoin ecosystem, has triumphantly concluded a seed funding round in May 2024, raising $2 million.
The funding round was spearheaded by CMS Holdings and RockTree Capital. Other participants included Cypher Capital, Optic Capital, Side Door Ventures, and Metalpha (a subsidiary of Bitmain listed on NASDAQ as MATH), along with Outliers Fund and Comma3 ventures. Angel investors such as Paul Taylor, formerly of BlackRock, and Yenwen Feng from Perpetual Protocol also contributed to the round.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
Satoshi Protocol | $2M | July 09, 2024 | Seed Round | CMS Holdings, RockTree Capital | Bitcoin |
About Satoshi Protocol
Satoshi Protocol is a universal stablecoin protocol backed by Bitcoin. It aims to provide a cornerstone for DeFi and make BTC truly spendable in daily usage by offering a Collateralized Debt Position (CDP)-style stablecoin. The protocol revolves around two primary components: SAT, a stablecoin pegged to the US dollar, and OSHI, a utility token that benefits participants in the ecosystem.
The Satoshi Protocol allows users to deposit BTC as collateral to borrow the stablecoin $SAT on both Bitcoin mainnet and multiple Layer 2. This initiative facilitates the mobilization of trillions in Bitcoin within the BTCfi ecosystem. The protocol introduces $SAT, a BTC-collateralized stablecoin, using the BEVM and a CDP model to enhance Bitcoin’s use in DeFi while maintaining its decentralized ethos
Website: https://www.satoshiprotocol.org/
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About Investor
The funding round was spearheaded by CMS Holdings and RockTree Capital. Other participants included Cypher Capital, Optic Capital, Side Door Ventures, and Metalpha (a subsidiary of Bitmain listed on NASDAQ as MATH), along with Outliers Fund and Comma3 ventures. Angel investors such as Paul Taylor, formerly of BlackRock, and Yenwen Feng from Perpetual Protocol also contributed to the round.
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