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River was founded in 2024, initially operating under the name Satoshi Protocol, with the goal of addressing liquidity fragmentation in DeFi.

The project raised $2 million in a seed funding round co-led by CMS Holdings and RockTree Capital to develop its chain-abstraction system.

River publicly announced its chain-abstraction stablecoin system, revealing its Omni-CDP module built on LayerZero and early traction of over $400M TVL.

The River protocol officially went live on the Ethereum mainnet, enabling native satUSD minting and the deployment of its Smart Vault feature.

The native governance and utility token, $RIVER, was launched and became available for trading, alongside the start of the S3 Airdrop program.