S
Satoshi Protocol
A universal stablecoin protocol backed by Bitcoin
About Satoshi Protocol
Satoshi Protocol is a decentralized finance (DeFi) protocol that enables users to mint a stablecoin, $SAT, by using Bitcoin (BTC) as collateral. It operates as the first Collateralized Debt Position (CDP) protocol on the BEVM ecosystem, a Layer 2 solution for Bitcoin. The protocol's primary function is to unlock liquidity from Bitcoin holdings without requiring users to sell their assets, thus addressing a significant need in the expanding Bitcoin finance (BTCFi) market.
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Founded in 2024 by a founder known as Naka, the company is based in Austin, United States. In May 2024, Satoshi Protocol successfully closed a $2 million seed funding round. The round was co-led by CMS Holdings and RockTree Capital, with participation from other notable investors including Cypher Capital, Side Door Ventures, and angel investor Paul Taylor, formerly of BlackRock. This capital is intended to enhance security, expand integrations with other Layer 2 solutions, and grow its global presence.
The protocol's business model centers on the creation of its stablecoin, $SAT, which is pegged to the US dollar. Users deposit their BTC into the protocol and can borrow SAT against it, maintaining a minimum collateralization ratio of 110% to prevent liquidation. Revenue is generated from fees within the protocol, and holders of its utility token, OSHI, can earn a percentage of this revenue. The system employs several mechanisms to maintain the stablecoin's peg, including over-collateralization, a stability pool, and arbitrage opportunities. Satoshi Protocol has formed collaborations with various platforms in the Bitcoin ecosystem, such as BEVM, Bitlayer, Core Chain, and participated in a campaign with Binance Web3 Wallet that attracted over 172,000 users.
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Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| EARLY VC✓Equity / VC | Jan 2026 | $12M | $48M | The Spartan Group · TRON Foundation · Maelstrom · Justin Sun | ↗ |
| SEED✓Equity / VC | Jul 2024 | $2M | $8M | Cypher Capital · Metalpha · Paul Taylor · Yenwen Feng | ↗ |
Growth signals
Latest recorded traffic for Satoshi Protocol is 18K monthly website visits, down 68.4% over the last three months. Satoshi Protocol's team declined 50% over the past year.
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Investments and acquisitions
Recent portfolio relationships for companies that also act as investors or acquirers.
Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed16 investors entered at this stage
Web3Port
Waterdrip Capital
MoveBit
BEVM- SASatoshiLab
MH Ventures
Cogitent Ventures- SUSupremacy
Cypher Capital
Metalpha
Paul Taylor
Yenwen Feng- OFOutliers Fund
Side Door Ventures
Comma3 Ventures
Optic Capital
Series A4 investors entered at this stage
The Spartan Group
TRON Foundation
Maelstrom
Justin Sun
Source: Dealroom Talent Intelligence.
Global footprint
team presence
Market sentiment
An AI-synthesised read of the highest-engagement posts about Satoshi Protocol on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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