Solv x OKX Wallet: Join Babylon’s Playhub!

We’re excited to announce a new collaboration between Solv Protocol and OKX Wallet to help users maximize their BTC staking rewards within the Babylon ecosystem.

SolvBTC.BBN, a Liquid Staking Token (LST) for Bitcoin, empowers Bitcoin holders to earn staking yields while maintaining liquidity in the BTCFi ecosystem.

Key Highlights:

• First Multi-Chain Bitcoin LST: SolvBTC.BBN enables users to access a wide range of integrations across various chains.
• Largest Babylon LST: Over 2,300 Bitcoin staked and more than 30,000 users make SolvBTC.BBN the leading LST in the Babylon ecosystem.
• Strategic Partnerships: SolvBTC.BBN users can participate in exclusive campaigns, such as Fuel & Mezo’s pre-deposit campaigns, ahead of Babylon’s mainnet launch.

How to Participate?

OKX Web3 Wallet is collaborating with Solv to offer a 20% XP Boost in Solv XPs for users who stake their BTC in the Solv Protocol, making them eligible for future airdrops. Follow these steps to participate:

Step 1: Get BTCB/MBTC/WBTC in Your OKX Web3 Wallet

• Ensure you have at least 0.0001 BTCB, MBTC, or WBTC in your OKX Web3 Wallet.
• To Deposit BTCB/MBTC/WBTC:

1. Open the [Wallet] tab and tap [Receive].
2. Select [Withdraw crypto from Exchange].
3. Choose BTCB/MBTC/WBTC as the asset and submit your withdrawal request.
4. Ensure you have sufficient assets to cover gas fees.

Step 2: Join the Campaign

• Navigate to the Babylon Playzone and find [Solv Protocol].
• Tap [Stake Now] to open the Solv DApp.
• Tap [Launch App], then [Connect Wallet] to connect your OKX Web3 Wallet.

Step 3: Switch Networks and Stake BTCB/MBTC/WBTC

• Switch to the network you want to use for the deposit.

• Enter the amount of BTCB/MBTC/WBTC to stake (minimum 0.0001 BTC).
• Tap [Approve], then [Deposit], and confirm the transaction in your OKX Web3 Wallet.

Step 4: Stake Your SolvBTC.BBN

• Once you’ve deposited your BTC, navigate to the SolvBTC.BBN section.

• Switch networks if needed and enter the amount of SolvBTC to stake (minimum 0.0001 SolvBTC).

• Tap [Approve], then [Stake], and confirm the transaction in your OKX Web3 Wallet.

Step 5: Confirm Your Stake

• After successfully staking your SolvBTC.BBN, you can confirm the transaction under [My Portfolio].

Frequently Asked Questions

What is the exchange rate between BTC and SolvBTC?

• 1 BTC = 1 SolvBTC.

How much Babylon staking allocation do I get?

• Your Babylon staking allocation for SolvBTC.BBN holders will depend on the total amount of Bitcoin staked by Solv during Babylon’s mainnet launch.
• Calculation Formula: Your Staking Allocation=(Total SolvBTC.BBNYour SolvBTC.BBN)×Bitcoin Staked in Babylon by Solv
• Initially, staking allocations will be proportional to the Bitcoin staked in Babylon, but eventually, SolvBTC.BBN will be backed 1:1 by Bitcoin staked in Babylon.

When & how to receive rewards?

• Rewards will accrue to your SolvBTC.BBN holdings. After Babylon’s Token Generation Events (TGEs), users can redeem their SolvBTC.BBN for wrapped Bitcoin plus Babylon rewards.

When & how to unstake?

• Redemptions will be subject to Babylon’s withdrawal policy, which will be announced in due course.