SAT: Stable Asset Token

A commodities stablecoin based on BTC and a basket of other strategic commodities

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Inspiration: BTC, STX, RSK, DAI, Synthetix, & legacy commodity markets. Satoshi built Bitcoin to be P2P electronic cash. This project is going to make his goal a reality via one of the largest & oldest markets in the world - commodities.

What it does: SAT is the first stablecoin of its' kind to use a commodities basket approach to building a stablecoin. It's intended target market will be a spot commodities marketplace (not regulated futures) where this stablecoin is used to buy & sell real spot commodities; and eventually on/off-chain exchanges where it is portable to legacy tradfi markets.

How we built it: First you need a reason why & a approach (here's that: https://bit.ly/41lO12H & our progress in Discord - see link below). This design started in solidity using the 3 tier DAI architecture (bec it is battle tested). The problem w/ DAI is that it went from ETH to USDC as its' peg & we do not see a consistant future w/ either.

Challenges I ran into: Time. 2 of us are raw to BTC L2 Defi. What you really want to do with an MVP is show a use case of how your product can be used in the off-chain world as P2P cash. Building a fully functional testnet SAT & layering a testnet marketplace on top of it using off-chain pricefeeds was beyond the limited amount of time we had - esp. bec we are still undecided on the above smart contract approach.

Accomplishments that I'm proud of: Just getting involved in the ecosystem & meeting new people. The plan is to port to L2 BTC Defi either via Clarity/STX or stick w/ Solidity/RSK - TBD.

What I learned: Besides RSK-ETH functionality, STX +Clarity testing tools out there; we learned to work backwards meaning what can we show in a limited amount of time that will show you SAT is a serious project that needs serious TLC from the BTC L2 ecosystem.

What's next for Stable Asset Token: Basically, a WP & biz plan that sorts out - A) Long-term L2 approach B) Specific target markets & cost of acquisition C) Tokenomics, data requirements, & analytics needed to measure success D) Contract data & security E) Legal & audit battle plan. The basic idea is to start small & scale up to SAT based services to keep costs down, scale & iterate w/ SAT demand. Demand chases good products, not the other way around.

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