SolvBTC.BBN Updated Incentives
Updated Incentives for SolvBTC.BBN
We’re thrilled to bring you some exciting updates about SolvBTC.BBN incentives as we gear up for the opening of the second epoch of deposits. Your incredible support and enthusiastic participation in the first epoch, which hit its cap of 500 SolvBTC in just 14 hours, have inspired us to raise the staking cap from 500 SolvBTC to 1000 SolvBTC for the upcoming epoch. We’ve listened to your feedback and made some improvements to better serve you.
Background
To ensure a smooth and safe launch, Babylon has set an initial cap on the amount of Bitcoin that can be staked during their mainnet launch. This means there is a limit to how much Bitcoin can be staked into Babylon initially.
The Babylon staking rewards will be distributed proportionally among all participants based on the amount of BTC staked. Each time Babylon raises its staking cap, Solv will strive to secure a share. Ultimately, SolvBTC.BBN will be backed 1:1 by Bitcoin staked in Babylon, along with the rewards that come with it. To align with this, we have updated our incentive plan to ensure it remains rewarding for you.
Incentive Plan
- Before SolvBTC.BBN is 1:1 Backed by Bitcoin Staked in Babylon:
- You’ll earn 20 XP per $1 per day until all the underlying Bitcoin for SolvBTC.BBN is staked in Babylon. We understand this may take some time, depending on Babylon’s timeline for raising caps. Therefore, we have designed the incentive plan to ensure that users can benefit until the 1:1 backing is achieved.
2. After SolvBTC.BBN is 1:1 Backed by Bitcoin Staked in Babylon:
- Once the 1:1 backing is achieved, the reward will be adjusted to 12 XP per $1 per day.
Why Choose SolvBTC.BBN?
- Get a Boost in Solv’s Points System: Exclusive Point multiplier given to SolvBTC.BBN holders.
- Early Participation: Be among the first to join Babylon’s staking ecosystem, with Solv as a leading player in the initial launch.
- Seamless Access Across Multiple Networks: Participate in Babylon’s staking yields without the hassle of high gas fees or long block production times.
Ethereum: For WBTC/FBTC users.
BNB Chain: For BTCB users.
Arbitrum: For WBTC users.
Merlin Chain: For M-BTC users.
- Shared Economic Security: Stake your BTC and share economic security with other networks, potentially earning staking yields.
- Liquid Staking Token (LST): SolvBTC.BBN provides the flexibility of a liquid staking token, maintaining liquidity while earning yields.
BTCFi — A Reality in the Making
SolvBTC Babylon (SolvBTC.BBN) represents a significant leap forward in BTCFi. By collaborating with Babylon, Bitcoin holders can prepare their assets for staking, earning yield while maintaining exposure to Bitcoin’s potential upside. Solv is dedicated to building a thriving Bitcoin ecosystem, starting with SolvBTC.ENA & SolvBTC.BBN.
About Solv Protocol
Solv Protocol is a Unified Bitcoin Liquidity Matrix, aimed at bridging Bitcoin’s trillion-dollar economy to DeFi by unifying its fragmented liquidity through SolvBTC. SolvBTC provides Bitcoin holders with access to Liquid Staking Tokens, offering a simple and efficient way to earn yields on their Bitcoin across any chain. By staking with Solv, your Bitcoin remains liquid, allowing you to leverage a wide range of DeFi applications.
Backed by prominent investors such as Binance Labs, Blockchain Capital, Laser Digital, and others, Solv Protocol is committed to delivering a secure and innovative staking experience. Our protocol has undergone extensive security audits by leading firms, including Quantstamp, Certik, SlowMist, Salus, and Secbit, ensuring the highest standards of safety.
For more information, visit our official website and follow us on Twitter.
