Satoshi Protocol Secures Seed Funding Led by CMS Holdings and RockTree

The BEVM stablecoin CDP protocol, Satoshi Protocol, has successfully raised $2 million in its seed funding round. This round was co-led by CMS Holdings and RockTree Capital, with participation from Cypher Capital, Metalpha, Optic Capital, Side Door Ventures, Outliers Fund, and various angel investors.

With this new funding, Satoshi Protocol aims to enhance its security measures, broaden integrations across various Layer 2 solutions, and strengthen its global footprint.

Satoshi Protocol is the first to introduce a Collateralized Debt Position (CDP) protocol to BEVM, providing a method for users to obtain liquidity for Bitcoin through the SAT dollar stablecoin, thereby enhancing the versatility of Bitcoin finance. This innovative approach is expected to unlock vast liquidity opportunities, enabling users to retain ownership of their Bitcoin while accessing necessary funds.

Although advancements like inscriptions and scaling solutions are revitalizing the Bitcoin ecosystem, a significant challenge remains: the lack of a reliable, fiat-pegged cryptocurrency for seamless trading and effective market pricing. Satoshi Protocol addresses this gap.

By allowing users to borrow SAT using Bitcoin as collateral, the protocol offers a liquidity solution that deepens the Bitcoin ecosystem. Users can collateralize BTC/LST to mint the $SAT stablecoin across both the Bitcoin mainnet and several Layer 2 platforms.

Naka, the Founder and CEO of Satoshi Protocol, stated, “The support from our investors is crucial as we work towards creating a universal stablecoin that meets the needs of Bitcoin users. This funding enables us to achieve these important development and market objectives.”

Satoshi Protocol has already made significant strides by forming integrations with various platforms, including BOB, Bitlayer, BEVM, Core Chain, Botanix, B^2, Alys/Anduro (Marathon Holding), and Omni Network. The protocol also collaborated with a major Web3 wallet campaign that engaged over 172,000 users.

Vineet Budki, Managing Partner at Cypher Capital, remarked, “Satoshi Protocol’s method of integrating stablecoins marks a significant advancement within the Bitcoin ecosystem. This investment underscores our confidence in its potential to improve liquidity options for Bitcoin users and enhance Bitcoin’s overall utility.”