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Overview
Introducing SATS, an ERC20 token 1:1 backed by the smallest unit of account of BTC: one satoshi. SATS are mintable, and redeemable, for tBTC.
Saakuru.network, a feeless L2 built on the OP Stack with a focus on GameFi, plans to integrate SATS in their platform to create unique use cases for BTC in GameFi.
Objectives
-
Launch SATS ERC20 token contract (backed by real satoshis, powered by Threshold Network).
-
Launch SATS minting DApp: Ffree/permissionless tBTC deposits to mint an equivalent number of SATS.
-
Release sats.js - a SDK for game developers to integrate SATS as their default in-game currency, marketplace asset, or liquidity pair with a seamless user experience on Saakurua.
SATS Token (Pseudo Contract)
pragma solidity ^0.8.24;
import { ERC20, ERC4626, FixedPointMathLib } from 'solmate/src/mixins/ERC4626.sol';
contract Satoshi is ERC4626 {
using FixedPointMathLib for uint256;
constructor(ERC20 _tBTC) ERC4626(_tBTC, "Satoshi", "SATS") {}
function totalAssets() public view override returns (uint256) {
return asset.balanceOf(address(this));
}
function convertToShares(
uint256 assets
) public view override returns (uint256) {
return assets * 1e8;
}
function convertToAssets(
uint256 shares
) public view override returns (uint256) {
return shares / 1e8;
}
function previewMint(uint256 shares) public view override returns (uint256) {
return shares / 1e8;
}
// How much tBTC is 1e18 SATS worth.1 SATS = 0.00000001 tBTC
function pricePerShare() public view returns (uint256) {
return convertToAssets(1e18);
}
}
SATS token contract will be deployed natively with COPY2 to get an identical and deterministic token address on the following chains where SATS.asset references native tBTC in each chain.
- Ethereum 0x18084fba666a33d37592fa2633fd49a74dd93a88
- Arbitrum 0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40
- Optimism 0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40
- Polygon 0x236aa50979D5f3De3Bd1Eeb40E81137F22ab794b
- Base 0x236aa50979D5f3De3Bd1Eeb40E81137F22ab794b
Peg and Native cross-chain transfer
SATS plans to be a Wormhole native transfer asset, and launch as a native interchain token. A UniswapV3 SATS/tBTC 1bp pool (with concentrated liquidity) will be deployed on each supported chain (Ethereum, Arbitrum, Optimism, Polygon, and Base), and liquidity deployed at the rate of (100M : 1 SATS.pricePerShare ). These pools are required to trade between tBTC (Wormhole native transfer asset) and SATS (local).
An example of Wormhole’s architecture for native token transfers with ETH and wstETH can be found here read more
Action plans
- Smart Contract Deployment: Deploy SATS on 5 EVM chains where tBTC are natively deployed.
- Technical assistance from Wormhole on native transfer capabilities.
- Marketing: Generate web content, social media accounts to promote SATS as Bitcoin Standard for GameFi at domain sats.game, with support from Saakurua.network.
- Github organization: Smart contract, webpage will be open-sourced and hosted at Satoshi DAO · GitHub
Support from Threshold DAO
The SATS token and Site launch will be independently funded.
The team requests $25,000 USD in liquidity support to be distributed over a three month period and support the SATS token launch on Saakurua.
About Saakuru Labs
SATS is a project built from the collaboration between Saakuru Labs.
Saakuru Labs is a Web3 enterprise software company and the operator of the Saakuru Blockchain, a consumer-focused, social, gas-less, layer-2 solution on Oasys. At Saakuru Labs, we provide critical pieces of Web3 infrastructure to ease access, increase security, and allow users and companies to generate income from the Web3 economy. Our innovative solution such as Saakuru Wallet SDK seamlessly integrates your products with popular blockchains, offering an effortless transition with as little as one day.
About Taffy Finance
TaffyDAO a GameFi specific decentralize exchange that is deploying on Saakuru.network.