What is a Satoshi?

A Satoshi, or Sat for short, is the smallest available unit of Bitcoin, which is one hundredth million of a bitcoin. They are named after the pseudonymous Bitcoin creator, Satoshi Nakamoto.

What are Rare Sats?

Not all sats are created equal. Some sats are rarer than others, containing special attributes that make them unique. For example, the first satoshi mined after a Bitcoin halving event is considered rarer than other satoshis in that same block. These satoshis are classified as “epic sats” by the Rodarmor Rarity Index, which is used to determine a sat’s special attributes. Subsequently, this has created a market for Rare Sats.

What is Rare Sat hunting?

Rare sat hunting refers to the process of sifting through bitcoin to identify and isolate rare sats. This involves depositing and withdrawing bitcoin from an exchange repeatedly until rare sats are found. Once the rare sats are acquired, they can be sold for profit on the secondary market.

What is SatScan?

SatScan is a project that aims to make sat hunting more accessible to BTC users. By utilizing our ScanBot, we are able to automate the sathunting process to maximize yield. Sat hunting with low amounts of bitcoin is not very lucrative as sat hunting incurs fees. These fees do not go up when hunting with larger amounts of bitcoin, however. Often this makes it unprofitable for the normal user to hunt for sats, but with $SCAN, users can stake our token in order to claim BTC profits from rare sat hunting.

What is $Scan?

$Scan is a BRC20 token and the SatScan token. Owners of $Scan who stake the token are eligible for hunting yield according to staking %.

How does the ScanBot hunt for Rare Sats and distribute yield?

The bot is programmed with the ability to identify rare sats. The bot hunts for rare sats by depositing and withdrawing BTC into an exchange from the exchange hot wallet. It repeats this process over and over until it finds rare sats. Once identified, the bot transfers the bitcoin which contains the rare sats to Sparrow wallet, separates that rare sat into its own UTXO, and then transfers it to the team xVerse wallet which supports rare sats. The rare sats are then sold on the open market, and the profit is re-distributed to stakers once the official hunting period ends. This period is two weeks. Stakers can claim profit every two weeks. There is a little more complexity to the actual bot mechanics but that's the basic overview.

Where does the BTC that is used for Sat hunting come from?

BTC comes from the SatScan treasury allocation. The SatScan treasury makes up about 6.5% of the $Scan supply. This supply is staked and receives a % of the bi-weekly yield which is then re-invested to the hunting pool. The initial BTC used will come from out-of-pocket investments by the team in order to subsidize and help saturate the initial yield.

Does the ScanBot actually work?

The sat hunting bot has been tested with small sample sizes. It is already fully functioning and has collected rare sats. The more bitcoin you use to sift the higher the yield will be.

What kind of returns are expected?

Returns will fluctuate with the randomness of rare sat hunting as a whole, as well as the price of $SCAN. With that being said, initial hunting has shown that up to 60% APY or even higher in some cases is possible.