Binance Web3 Wallet Partners with BEVM and Satoshi Protocol for Multi-Million Airdrop Bonanza

Binance, BEVM, and Satoshi Protocol collaborate for an airdrop campaign with a 500k OSHI and 10.5 million BEVM token prize pool. Users can earn rewards by using the Binance Wallet, bridging BTC to BEVM, and creating a position on Satoshi Protocol, which is a CDP protocol built on BEVM.

Binance Web3 Wallet Announces Multi-Million Airdrop Campaign in Partnership with BEVM and Satoshi Protocol

Binance Web3 Wallet, an esteemed cryptocurrency wallet provider, has forged a strategic alliance with BEVM, an innovative Bitcoin Layer 2 solution, and Satoshi Protocol, a pioneering Collateralized Debt Position (CDP) protocol, to initiate an airdrop campaign valued at millions.

Commencing on April 4th, 2024, and extending until May 4th, 2024, this campaign will distribute a generous prize pool of 500k OSHI and 10.5 million BEVM tokens. Participants will be remunerated for utilizing the Binance Wallet, transferring BTC to BEVM via the wallet, and establishing a position on Satoshi Protocol. Within just three days, the campaign has garnered significant traction, attracting over 30k enthusiastic participants.

BEVM: Enhancing Bitcoin's Capabilities

BEVM, a groundbreaking Bitcoin Layer 2 solution, harnesses the state-of-the-art Taproot consensus MAST, Schnorr signatures, and Bitcoin SP to deliver unparalleled levels of decentralization and security. BEVM boasts four key pillars:

• Native BTC Layer 2: Seamlessly compatible with the Bitcoin blockchain.
• EVM Compatibility: Facilitates the seamless deployment and execution of smart contracts, fostering interoperability with the vast Ethereum ecosystem.
• Decentralization and Security: Leverages Musig2 multi-signature aggregation and Bitcoin light nodes to ensure robust security and widespread participation.

Satoshi Protocol: Unlocking Liquidity and Potential

Built upon the foundation of BEVM, Satoshi Protocol emerges as a pioneering CDP protocol that brings forth novel possibilities for the Bitcoin ecosystem. Launched on the BEVM mainnet on March 28th, 2024, the protocol aims to unlock liquidity for BTC through its stablecoin, SAT, and expand the realm of BTCFi scenarios.

Leveraging advancements within the Bitcoin ecosystem, such as inscription, scaling solutions, and the impending halving, Satoshi Protocol endeavors to provide a reliable, fiat-pegged cryptocurrency for seamless trading and market impact. Ultimately, the protocol aspires to serve as a cornerstone of decentralized finance and enable the everyday, practical utilization of BTC through its CDP-style stablecoin.

SAT Stablecoin: A Catalyst for Bitcoin Liquidity

Through the introduction of the SAT stablecoin, users now have the ability to obtain SAT loans by leveraging their BTC as collateral, thereby introducing a dependable liquidity solution for the Bitcoin ecosystem. However, users must maintain a minimum collateral ratio (MCR) of 110% when borrowing SAT, ensuring they cannot borrow more than 90.9% of the deposited BTC value.

Satoshi Protocol employs a sophisticated liquidation system that is triggered when a user's collateral value falls below the 110% MCR due to price fluctuations. In such scenarios, the user's BTC collateral is sold at a discounted rate to Stability Pool providers to repay the SAT loan.

Maintaining SAT Stability: A Multi-faceted Approach

Satoshi Protocol utilizes a multifaceted system to maintain a stable peg of $1 for SAT, encompassing a combination of mechanisms, including:

• Permissionless Liquidation: Encourages users to liquidate undercollateralized loans, ensuring the stability of the system.
• Stability Pools: Incentivizes users to deposit BTC and provide liquidity, further bolstering the stability of the SAT peg.
• Collateralization: Maintains a minimum collateral ratio to safeguard the system against excessive risk.
• Arbitrage: Provides incentives for market participants to maintain the SAT peg by buying or selling SAT as needed.

OSHI Token: Enabling Protocol Governance and Revenue Sharing

The protocol has incorporated OSHI, a utility token that empowers holders with the ability to participate in protocol governance and earn a share of 97.5% of the protocol's revenue.

Participating in the Airdrop: A Simple Process

To participate in the airdrop campaign, users should navigate to the Campaign Landing Page and connect their Binance Wallet. Subsequently, users are required to withdraw BTC and transfer it to BEVM, followed by visiting Satoshi Protocol to establish a position. Finally, users must return to Satoshi Protocol and connect their wallet, thereby qualifying for the BEVM and OSHI airdrop.

Satoshi Protocol: Milestones and Recognition

Within a短短 two months of its inception, Satoshi Protocol has achieved remarkable milestones. On February 24th, the protocol launched its BEVM Testnet, followed by the successful conclusion of its Testnet on March 18th, with over 100,000 participants and the minting of 80,000 NFTs. During the same month, the protocol's smart contracts underwent rigorous security audits conducted by Scalebit and Supremacy, and a pre-seed funding round was successfully secured from Waterdrip Capital, Web3Port Foundation, and the BEVM Foundation.

For the latest updates and developments, please visit the Satoshi Protocol Website.