Introducing the SatLayer Rewards Program - Restake and Stack Sats² to Maximize Your Bitcoin’s Reward

SatLayer recently announced our $8M pre-seed fundraise and now, it’s time to unveil the details on Season 1 Epoch 2.

SatLayer

• 3 min read
Introducing the SatLayer Rewards Program - Restake and Stack Sats² to Maximize Your Bitcoin’s Reward

SatLayer recently announced our $8M pre-seed fundraise and now, it’s time to unveil the details on Season 1 Epoch 2.

TLDR of SatLayer

Satlayer is the universal security layer that maximizes the power of Bitcoin. By deploying as a set of smart contracts on Babylon, Satlayer enables BTC stakers to secure any type of dApp or protocol as a Bitcoin Validated Service (BVS).

This means that Bitcoin, already the strongest economic collateral, can now provide security to a broader range of applications with full programmability for slashing conditions while minimizing additional trust assumptions. 

Think of SatLayer as the most robust restaking network. 

Season 1 Epoch 2: REWARDS GO BRRRR

Epoch 2 is going live on September 13, 2024, at 2 AM UTC, and we are raising the roof (deposit cap)!

Say ₿m to SatSats (Sats²) 🟨 

Sats² are the base unit of SatLayer Rewards users earn from restaking with SatLayer.  Since the start of season 1, epoch 1,  depositing into SatLayer has rewarded users with Sats² 

How it works: After depositing a growing number of wrapped BTC and Bitcoin Liquid Staking Token’s (LST), users receive rewards from one or more protocols + stack Sats². 

For example, here we can see depositors of UniBTC receiving not only Sats² but also uniBTC Diamonds and Babylon rewards all through the deposit of a singular LST.

It’s called Sats² because, with SatLayer, you're amplifying the rewards from your Bitcoin deposits —supercharging your earning potential!

Epoch Duration and Reward Distribution:

Each epoch in the rewards program will last for two to three weeks, with season 1 expected to run from now until mainnet.

For each epoch, a fixed amount of Sats² will be available as rewards.

Additionally, bonuses may be introduced throughout the program to provide further incentives.

Sats² Earning Structure:

Users deposit wrapped BTC or BTC (LST) assets into SatLayer contracts, earning Sats² with every snapshot, which occurs at least once every 24 hours. 

Sats² Bonuses and Multipliers:

Certain Liquid Staking Tokens (LSTs) may have different multipliers depending on the epoch. For example, LBTC might earn a 2x multiplier during the first epoch, but this could shift in a future epoch, where uniBTC gets the highest multiplier.

Users can also earn their own additional multiplier by completing side-quests. Community members who follow SatLayer on Twitter, actively engage in our Discord and join our Twitter Spaces will be rewarded for their contributions. These bonuses reset with each new epoch.

We’ll also be launching side quests and themed campaigns to weave SatLayer lore into each epoch. Community, if you have ideas, join us in Discord and share them!

Restake and CHILL

Thinking about cozying up with some #cozygaming this Fall? Scratch that—we’re here to make staking cozy and chill again. Bitcoin staking and restaking can often feel convoluted and complicated, but at SatLayer, we’re changing the game.Mark your calendar and start restaking on September 13 2024, 2 AM UTC.

stake.satlayer.xyz

F.A.Q

  • Can users send receipt tokens to other wallets or contracts? Are they eligible? Yes
  • If a user deposits assets before a snapshot and withdraws after; What is the eligibility?
    They’ll earn Sats² as long as their deposit shows up on 1 or more snapshots.
  • Users might deposit assets across multiple chains (e.g., EVM and Bitlayer); Are there cross-chain rewards?
    Sats² are awarded on deposit of every supported asset on every supported chain.
  • Will the early users' BTC over the initial cap be rewarded with points?
    Yes, they'll be awarded the same points as those under the 100 BTC cap for epoch 1.


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