What Is Satori Finance and How to Earn Points

What Is Satori?

Satori Finance is a decentralized financial derivatives platform that aims to provide users with a comprehensive and fast trading experience. It utilizes a unique design that combines off-chain aggregation and on-chain settlement to further improve the platform’s order book process. 

Key Takeaways

• Satori Finance is a financial derivatives platform that operates on various blockchains like Polygon zkEVM, BNB Chain, Scroll, and more.

• The project has successfully raised $10 million in a seed round in May 2022 with participation from Polychain Capital, Coinbase Ventures, and Jump Crypto

• Satori is currently running Season 2 of its points program where users can accrue points for a future token airdrop. 

When it comes to trading cryptocurrencies on the blockchain, every trader wants a reliable and secure platform that can also provide innovative tools. There are a variety of trading platforms in the crypto space that accommodate different trading needs, from Decentralized Exchanges (DEXs) to Centralized Exchanges (CEXs) and more. 

Introducing Satori Finance

Satori Finance is a decentralized platform dedicated to financial derivatives with a unique off-chain aggregation and on-chain settlement design. It aims to provide a comprehensive trading experience and operates on multiple popular blockchains including Polygon zkEVM, Zircuit, BNB Chain, Arbitrum, Scroll, Optimism, and more. 

Users on the platform can trade with up to 25x leverage on perpetual assets, giving them the opportunity to farm points while trading a variety of assets. Satori is also built to cater to seasoned and casual traders with a suite of tools that help with setting up multiple orders, analyzing market conditions, and integrating other trading tools through advanced software development kits (SDKs) and application programming interfaces (APIs).

Through its unique design, Satori can combine the security and transparency of a DEX with the speed and user experience of a CEX. The hybrid approach of off-chain aggregation and on-chain settlement will collect orders from traders off-chain, and once orders are matched the trade will be settled on-chain to ensure that the final execution is recorded on the blockchain. 

At the same time, Satori implements an advanced order book model that is designed to list buy and sell orders to ensure a more structured trading environment. By collecting and matching orders off-chain with the use of its order book model, the trading process can be faster and more efficient. 

In order to handle the off-chain order book model while delivering exposure across a diverse range of markets, Satori collaborates with a wide network of market makers. For example, the Satori and Plume partnership introduces perpetual markets for real world assets (RWAs) to include commodities and more. 

Behind The Scenes At Satori

Satori Finance was founded in 2021 by George Wu – who currently holds the position of Chief Technology Officer (CTO) – with the Satori platform launching later on in March 2023. Satori has successfully raised $10 million in a seed round in May 2022 which received participation from notable investors such as Polychain Capital, Coinbase Ventures, and Jump Crypto. They are also backed by BlockChange, Portal, D1 Ventures, and Sandeep Nailwal. 

How to Earn Points for the Satori Airdrop

In celebration of their one year anniversary, Satori launched their points program for users to earn points for actively using the platform. The team has intentionally decided to not publish the point calculation formula but have highlighted that users will be rewarded for actions based on Total Value Locked (TVL) deposited, number of traders, volume traded, length of trades, and liquidity provided to the order book. 

Satori has announced that point holders will be eligible for a token airdrop amounting to a total of 12% spread across three seasons. The first two seasons have already concluded with Season 0 participants eligible for 3% allocation while Season 1 participants are eligible for a 4% allocation. The final 5% allocation is set aside for Season 2 participants which will run a more dynamic system to reward traders and the community from achievements and trading-based milestones. 

However, do note that at the time of writing, the Satori team has not officially published the tokenomics or details of the token launch and airdrop. 

Step 1: Connect Wallet

First, go to https://trade.satori.finance/leaderboard/season2 and Connect Wallet in the top right corner.

You can then choose from a list of available wallets. We will be using MetaMask in this guide.

Satori will prompt you to approve a signature request which then opens your wallet extension for you to approve and confirm the request.

You can choose to set up your Telegram username at this point to receive alerts. We cover the process for this in Step 5.

Step 2: Trade to Earn

Once your wallet is connected, you will see the five ways to earn points with the first being through trading. You can click Trade here to move to the trading page. 

Before you can make a trade, you need to Deposit funds into your account.

There are several available tokens across several chains that you can choose from. In this guide, we will deposit USDC on Arbitrum.

After that, you can proceed to place your order. Before you do so, we recommend you check up on the featured pair for the daily trading pairs quest, which is covered in more detail in Step 6. 

Step 3: Deposit to Earn

The next way to earn points is by depositing stablecoins into the Vault. Since we deposited USDC in the previous step, we are already earning basic points. 

In this step, we will Deposit USD into the Satori Vault to earn 3x Satori points. 

On the vault page, click Deposit.

Then input the amount and Submit to confirm the transaction.

Step 4: Refer Others

Back on the S2 page, you can scroll down to get your invitation link through the Invite button. You will earn 20% in trading points from direct referrals and 10% trading points from sub referrals. 

Step 5: Complete Tasks

At the time of writing, Satori S2 has three available tasks to earn more points. The first two tasks are daily trading and trading for seven consecutive days which you can achieve by following Step 2.

The third task is to enable Telegram notifications by hitting Go.

The same pop-up from Step 1 will appear for you to set up your Telegram username. 

After hitting Set Now, you will need to verify your Telegram by inputting your Telegram username.

Click Verify Telegram and it will redirect you to the Telegram application.

Start the Telegram bot and once your account is verified, the bot will share Satori alerts with you.

You can also change the settings for which alerts you want to receive.

Step 6: Complete Daily Quest

The final task is to complete the daily quest that we mentioned in Step 2. With this task, you will earn additional points for trading the specified pair. During the time of writing, the daily pair was BTC-USD which is what we traded in Step 2. 

Conclusion

Satori Finance is a decentralized financial derivatives platform that uses an off-chain aggregation and on-chain settlement design to provide a speed efficient trading experience. It operates on various blockchains such as Polygon zkEVM, Zircuit, Arbitrum, and more. Users can now interact with the platform and complete tasks to earn points for a future token airdrop. 

This article is only for informational purposes and should not be taken as investment or financial advice. Always do your own research before connecting your wallet to any protocol, and note that following the above steps is no guarantee of receiving an airdrop.