Partnership with Satoshi Protocol

Satoshi Protocol is dedicated to developing secure and scalable financial solutions within the BEVM ecosystem—a Bitcoin Layer 2 network. With a focus on leveraging Bitcoin’s strengths, Satoshi Protocol has crafted SAT, an overcollateralized stablecoin backed by BTC. This innovation marries Bitcoin’s decentralization and resilience with the adaptability and utility of digital currencies like stablecoins.

We are excited to announce a new partnership between DIA and Satoshi Protocol to support the launch of SAT—the world’s first stablecoin backed by Bitcoin. Satoshi Protocol has adopted DIA’s oracle technology within the BEVM network. This integration provides a robust data infrastructure crucial for powering SAT. DIA’s oracles offer accurate, real-time BTC price data, sourced transparently from various centralized and decentralized exchanges.

Oracles are vital for the functionality of Collateralized Debt Position (CDP) stablecoins such as SAT. They supply reliable, real-time price data necessary to maintain the stability and integrity of the stablecoin. For SAT, DIA’s oracles provide secure and accurate Bitcoin price feeds crucial for valuing the collateral. This ensures that SAT remains adequately collateralized, reinforcing its stability and reliability as a digital asset with a stable value.

DIA’s Oracles facilitate the seamless integration of off-chain data with Bitcoin Layer 2 solutions, paving the way for innovative DeFi applications and services within the Bitcoin ecosystem. This promotes the utility and capital efficiency of Bitcoin. Possible use cases include lending and borrowing, stablecoins, derivatives trading, payments, or synthetic assets issuance.