Raffaele
Thu Nov 07 2024
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5 answers
1463
What is the Oshi Satoshi protocol?
The Oshi Satoshi protocol is a collateralized debt position (CDP) protocol built on the Bitcoin Layer2 BEVM. It aims to provide liquidity for the Bitcoin ecosystem by allowing users to deposit BTC as collateral and borrow the SAT stablecoin pegged to $1 USD. The protocol has completed a $2 million funding round and has a lock-up volume of over $1 million. It features a risk management mechanism including collateral liquidation and a stable pool to ensure the stability of SAT. Additionally, the protocol has native token OSHI with a total supply cap and various incentives for participants.
