TL;DR: Lorenzo Protocol has partnered with Satoshi Protocol to enhance the utility and yield opportunities within the bitcoin DeFi space. This collaboration will allow users to leverage Lorenzo’s stBTC as collateral to borrow Satoshi’s stablecoin, SAT. The partnership aims to increase liquidity, provide better yield opportunities, and expand the reach of both platforms, ultimately driving greater adoption and functionality for bitcoin in everyday use.
We’re incredibly excited to announce Satoshi Protocol, a universal stablecoin built specifically for bitcoin aiming to make bitcoin truly spendable in daily usage, as a DeFi ecosystem partner.
Satoshi will support stBTC as collateral to borrow their stablecoin, SAT.
Bringing stBTC To The Satoshi Ecosystem
Key to our partnership will be the use of stBTC, Lorenzo’s native liquid principle token (LPT).
By allowing users to leverage stBTC as collateral for SAT borrowing, the partnership will bring users additional flexibility and utility for each token while providing access to more yield opportunities within the booming bitcoin DeFi space.
“We believe that by supporting stBTC as collateral, this partnership with Satoshi Protocol will offer users a more effective way to use their assets. With SAT, users can access better yield opportunities and unlock the liquidity of BTC staking.” — Matt Ye, Founder and CEO of Lorenzo Protocol
By opening up Satoshi Protocol to stBTC implementation, the SAT ecosystem will gain additional liquidity and a direct path to onboarding the Lorenzo community.
Driving Bitcoin Further
Our partnership with Satoshi Protocol is at an exciting moment in the Lorenzo timeline — during which stBTC utility is expanding rapidly. It’s a significant step forward as we continue our mission to be the premier platform for yield-bearing token issuance, trading, and settlement through Babylon.
Through our combined efforts and commitment to bringing the power of bitcoin to the world, our platforms will unlock mutual benefits for our users and cultivate a more rewarding DeFi experience for all bitcoin holders.
Lorenzo Protocol is building the first Bitcoin liquidity finance layer, complete with a Bitcoin liquid staking protocol, to achieve the goal of becoming the premier platform for yield-bearing token issuance, trading, and settlement through Babylon. On its platform, Lorenzo connects Bitcoin stakers — regardless of the size of their holdings — with top-tier projects needing liquidity and security, thus unlocking the liquidity of staked assets and capturing world-class yields for stakers. It offers streamlined Bitcoin management and user protections such as staking insurance, node operator credit scores, anti-slashing mechanisms, and validator permits.
This foundation facilitates seamless integration and interoperability for Bitcoin across the Web3 ecosystem, providing a pathway for significant liquidity and yield generation across networks. By issuing two forms of liquid staking tokens — liquid principal tokens (LPTs) and yield accruing tokens (YATs) — to users upon the completion of their BTC deposit, Lorenzo not only enhances liquidity but also establishes a foundation for a DeFi ecosystem built on these token standards. This enables the creation of more complex DeFi products utilizing stBTC (Lorenzo’s native LPT) and YATs, further exploring the possibilities of Bitcoin finance.
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