SATS in crypto is a potential new digital currency with many unique and attractive features. Named after Satoshi Nakamoto, the founder of Bitcoin, SATS token promises to bring many benefits to users.
So what is SATS in crypto (Ordinals)? What is the reason for SATS and BRC tokens to grow so strongly? AZCoin will analyze in the following article.
What is SATS?
SATS in crypto, initially marketed as one of the earliest meme coins on the Bitcoin blockchain, now facilitates the creation and movement of BRC-20 standard tokens linked to BTC units known as satoshis.
In a brief period, the coin has attracted a significant following. Furthermore, it enables users to create fungible tokens by writing designated files to satoshis.
Regarding SATS, the most notable perception among individuals is its vast supply. The existing total supply of SATS stands at 2.1 quadrillion, which is 100 million times greater than that of Bitcoin.
Therefore, at the beginning, many users did not believe that this BRC-20 token could finally be launched. But with the strong interest and belief of users, SATS – a meme coin named after Satoshi Nakamoto was finally born.
Applications of SATS in crypto
With the expansion of the SATS community, UniSat – the largest wallet developer in the BRC-20 ecosystem – is also interested in this token. (UniSat Wallet is a Chrome plug-in wallet for the Bitcoin ecosystem, helping users store, mint and transfer BRC-20 tokens including buying and selling BTC, NFT, domain names,…).
On October 16, 2023, UniSat revealed that SATS tokens will be utilized as transaction fees for their latest offering, BRC20 – Swap. Users engaging in trades on BRC20 – Swap will face a charge of 0.3%, with around one-sixth (0.05%) of this fee going to UniSat, while the remaining five-sixths (approximately 0.25%) will be distributed to Liquidity Providers (LPs) who supply liquidity on BRC20 – Swap.
This fee structure is largely based on the current exchange rate standards used by Uniswap. Regarding the use of fees, UniSat announced that it will donate 2% of its revenue to L1F (Layer 1 Foundation). In addition, UniSat also announced that it will publish a fully explained and verified code of BRC20 – Swap in the near future.
The story of meme coins adding utility is not the first time that has happened in the crypto world. Previously, DOGE and Shiba had caused heated discussions on the market when launching their own blockchains. This story originated from the cost of swapping fees.
By exchanging BRC-20 tokens on UniSat, transaction fees will be paid for SATS tokens. If the popularity of BRC-20 continues to surge in the future, this will lead to users using a significant quantity of SATS tokens.
At present, BRC20 and the whole Ordinals ecosystem are still in their infancy. UniSat holds a significant market position and wields considerable influence. The SATS token is highly regarded by UniSat, generating high hopes for both the project and its holders.
Basic information about SATS in crypto
SATS tokenomics
- Token name: Satoshi token
- Symbol: SATS
- Standard: BRC-20
- Contract: 9b664bdd6f5ed80d8d88957b63364c41f3ad4efb8eee11366aa16435974d9333i0
- Blockchain: Ordinals
- Total supply: 2,100T SATS
- Maximum supply: 2,100T SATS
SATS token exchange and SATS wallets
You can currently buy SATS tokens on exchanges such as OKX, Mexc, Gate.io, Bitget, Kucoin,… SATS will soon be listed on the world’s top 1 exchange Binance.
You can store SATS in popular supported wallets such as Metamask, Coinbase wallet, Coin98 Super Wallet,…
If you are a newcomer looking to explore coins and crypto like Bitcoin (BTC), Ethereum (ETH) or Tether (USDT),… trading market, take a look at reviews of various exchanges and follow the instructions on the best crypto exchanges 2024 page to receive exclusive offers.
Project team of SATS
The SATS token was developed by a team of unknown creators aiming to enhance the accessibility and usability of Bitcoin. Your training includes information up to October 2023.
Difficulties and challenges of SATS (Ordinals)
- Infrastructure: The project is in the testing phase, adjusting the infrastructure and system, so users may experience some errors, network congestion and low performance during the experience.
- Fraud: SATS (Ordinals) is a new project with no long history of operation, making many people skeptical about the possibility of fraud.
- Social Media Impact: In addition to receiving favorable feedback from influential investors, SATS is also facing criticism. This could significantly influence the platform’s future trajectory and development plans.
Summary
The SATS in crypto has experienced a significant price surge, which has generated notable interest since its listing on Binance. While some believe this is merely a minor rebound for BRC-20 tokens, the developments occurring within the Bitcoin ecosystem—like BRC20-Swap, metaverse projects, and NFTs—make it a prospect worth monitoring in the near future.
As stated on the indemnity page, AZCoin is not liable for any financial choices you make. We wish you all the best and hope you find success in this lucrative market.
I am Tony Vu, living in California, USA. I am currently the co-founder of AZCoin company, with many years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
