Thesis: SAT is a commodity basket stablecoin named after SAToshi Nakamoto with one purpose - the buying/selling of spot (not futures) commodities via a marketplace we call CAT (Commodity Asset Tokens) Network. SAT is an over-collateralized basket stablecoin minus any fiat - the basket consists of strategic commodities - like gold, oil, gas, bitcoin, etc. Aggregate price will be the 1913 peg of $100 USD. SAT's street value is just an average price of the collateral held in the basket, but it's still a hard peg because other commodities that have historically been used as money can be vaulted/audited (ie. gold, silver, bitcoin). The basket approach keeps the price fair and decentralized whilst putting hard assets in their rightful place as money again in a giant cross-border market.
SATs intended use is for:
- P2P cash for a spot commodities marketplace (CAT - see link below)
- Defi for tokenized commodities exchanges for outside arbitrage and lastly,...
- Tradfi for legacy commodities markets where live spot pricing is more appealing than regulated futures
Target Customers: SAT is diversified to hold its' peg and specifically targets commodities markets where spot is more appealing and/or in regions where soverigns are looking to divest from USD; though it can be used as currency in many other scenarios. Commodities run the global economy because all products and services require them. Commodities are also the second larget market, second only to stocks. Strategic commodities are preferred over fiat simply becuase they are not bound by arbitrary physical regulation and hold significant off-chain value.
So, when a person buys SAT the collateral behind it is held in BTC and physical gold/silver via other commodity tokens like AUX, PAXG, etc but the price will be higher because of the other commodities in the basket- hence SAT will always be heavily over-collateralized. The goal is to leverage partner exchange(s) for redemption since there will be consistant transparent audits. User confidence means the peg is auditable 24x7. It would be easier to make SAT a pure synthetic asset -because most traded commodities are never physically held anyway, but that goes against the whole idea of bringing back strong money. You need a real peg in the real world.
Our success means non-fiat borderless stablecoin issuance will be a reality and monetary commodity volatility for Bitcoin and gold will end as they will finally be used for their intended purpose - money in a global marketplace with very large trade volume. Thus, the SAT project will fulfill Satoshi's goal for Bitcoin as universal P2P electronic cash system.
References: Commodity Asset Tokens Repo (CAT)/Archieved: https://github.com/ad3109/CAT Supporting Contracts incl API info: https://github.com/ad3109/oracle-proxy-api/tree/main SAT and CAT videos, presentations, the white papers, and more: https://stablec.com/sat-rwa/ and https://catrwa.com/