IDO Nearly 300 Times: Revealing the Big Boss Behind the SatoshiVM Code

Author: 0xBoboShanti; Compiler: Peng SUN, Foresight News

Yesterday, Bitcoin Layer 2 project SatoshiVM completed IDO on the decentralized auction platform Bounce Brand. And announce token economics. The total supply of SAVM is 21 million, and the IDO price is 0.05 USDT. It has increased nearly 300 times since its launch, reaching a maximum of nearly 15 USDT, which once again made countless people snap their thighs.

As BoboShanti said, SatoshiVM brings together all the current hot spots: Bitcoin, Rollup, ZK, Taproot, Layer2. So, who is behind SatoshiVM? Today’s article will reveal to you the big BOSS hidden behind SatoshiVM.

First of all, according to SatoshiVM's Github, the project's first code submission was on January 5, 2024. There are 4 code contributors, including satoshidev1 , PTOnece, 0xlagoon and tb1p. satoshidev1's Github account was created two weeks ago, and the others five days ago.

SatoshiVM has very few repositories on Github. Currently, there are only a few categories: white paper, yellow paper, Blockscout fork, SatoshiVM website, and cross-chain bridge and airdrop contracts. The latter two libraries are still empty.

But the truth is definitely more than that. Even the best developers cannot develop a new Bitcoin Layer2 Rollup using ZK technology within two weeks.

I checked the Sepolia test network again and found out An unverified contract. This may be a cross-chain bridge contract that allows cross-chain testnet SAVM from Sepolia to SatoshiVM testnet and vice versa.

By decompiling the contract through Dedaub, you can find some special signatures and function names. The most interesting thing is that "anchor" is mentioned multiple times. "receiveFromAnchor" is not a common function name.

Then, I tried to find if there were other contracts that also used "receiveFromAnchor", and finally found that Bool Network developed an AMT cross-chain bridge contract called TokenBridge.sol. This contract uses the same function names and events, and the SatoshiVM version appears to be a direct implementation of this contract.

Bool Network is a decentralized signature protocol established at the end of 2020. The team has been studying Bitcoin Layer2 solutions and published an academic article in 2022 PaperBool Network: An Open, Distributed, Secure Cross-Chain Notary Platform.

When I saw the Bool Network browser, I confirmed that SatoshiVM is using Bool Network. It should be noted that Bool Network supports the SatoshiVM testnet and has supported the SatoshiVM development network since January 5, 2024, while most people know about the SatoshiVM project much later.

The Bool Network browser also has SatoshiVM development network and test network logos. If the Bool Network team had not added them themselves, these logos would not have appeared at all.

So, it can be said that the SatoshiVM team and the Bool Network team are directly related.

Looking further, without delving into the technical details, each cross-chain bridge needs to deploy an "Anchor" contract on its respective chain, and this is done through the "AnchorFactory" contract on each chain Deployed interactively. The Anchor contracts on the Sepolia and SatoshiVM testnets are deployed through 0x66feD255e376c5E5495384A8aBc01a1AA65aFE8a.

If we look at Bool Network's documents again, we can find that the team has launched the AnchorFactory contract address on the Sepolia testnet in May 2023.

So, who deployed AnchorFactory? The answer has also surfaced, which is the address where the SatoshiVM Anchor contract is deployed.

Obviously, SatoshiVM and Bool Network are the same team. But strangely, SatoshiVM does not mention Bool Network at all.

It is worth noting that Bool Network has not issued coins yet. 3% of its BOOL tokens will be airdropped to the community, and 10% of the tokens will be airdropped to testnet users. But considering the allocation situation, maybe most of BOOL will be allocated directly to SatoshiVM. After all, SatoshiVM is one of the main development tasks of Bool Network.