SolvBTC Launches on BNB Chain, Paving the Way for Enhanced Yield on Bitcoin’s Halving Day
Solv Protocol is thrilled to announce the launch of SolvBTC, the first cross-chain yield-bearing Bitcoin, on BNB Chain. This strategic move signifies a major milestone in Solv’s mission to establish SolvBTC as the liquidity hub for the growing BTCFi ecosystem across multiple networks.
SolvBTC Introduction
SolvBTC is pioneering in redefining Bitcoin yield and composability. It offers Bitcoin holders a convenient and secure source of native yield while ensuring unparalleled liquidity and composability. SolvBTC seamlessly integrates with various DeFi protocols, unlocking numerous yield opportunities.
SolvBTC’s yield is generated through diversified sources, including staking, restaking, and trading strategies, all running on a decentralized asset management framework.
Furthermore, SolvBTC can function as collateral in DeFi protocols such as perpetual DEXs, stablecoins, and lending platforms, thus creating new revenue streams for Bitcoin holders.
SolvBTC: The Spark To Ignite BTCFi
Within just two weeks of its launch, SolvBTC has witnessed remarkable growth, attracting nearly 1,000 wBTC in staked assets on Arbitrum and over 6,000 mBTC on Merlin Chain. This rapid adoption underscores SolvBTC’s potential to lead the way in establishing an efficient and expansive Bitcoin yield economy.
On Merlin Chain, SolvBTC’s extensive integration highlights its role as a liquidity hub. The SolvBTC-mBTC pool on MerlinSwap leads in both depth and trading volume, while SolvBTC remains the primary asset used across lending protocols such as Avalon and Mage. SolvBTC’s remarkable success accelerates the roadmap towards a flourishing Bitcoin yield economy.
Furthermore, Arbitrum’s prominent Perp DEX GMX has proposed a token swap with Solv, gaining community approval for deeper collaboration on collateralization and yield sourcing.
Bringing BTCFi to the BNB Chain
With over 60,000 wrapped BTC (BTCB) on the BNB Chain, BNB Chain stands as a pivotal frontier in Bitcoin’s on-chain evolution. Leveraging its seamless integration with centralized exchanges, BNB Chain serves as a gateway for institutions and retail users alike to onboard their BTC into the rapidly expanding BTCFi ecosystem.
On Bitcoin’s 4th Halving Day, Solv proudly introduces SolvBTC on BNB Chain, enabling users to seamlessly capitalize on BTC yield opportunities while maintaining asset exposure. This marks the beginning of widespread adoption of BTCFi on one of the most liquid and globally connected chains, furthering Bitcoin’s integration into DeFi.
Security Is Our Number One Priority
Ensuring robust security for Bitcoin holdings is essential to encourage institutional and retail participation. In collaboration, Solv and BNB Chain have developed a comprehensive security solution:
- BTCB, the BTC-pegged asset on BSC, enables holders to seamlessly utilize their BTC across the chain’s DeFi landscape. Binance conducts real-time audits to ensure that all issued BTCB is 1:1 backed by authentic BTC reserves, safeguarded by its secure emergency fund.
- Solv has partnered with digital asset custodian leaders Antalpha and Ceffu to leverage their technology and infrastructure to better safekeep user assets.
- Solv’s custom SafeGuard mechanism implements granular, vault-specific security protocols based on trading strategies. This system restricts unauthorized transfers and mitigates risks beyond the capabilities of traditional multi-signature security measures.
Double XP on the BNB Chain!
To commemorate SolvBTC’s landmark BNB Chain integration, Solv launches a two-week double points incentive campaign. With the smoothest UX, paramount asset security, and lowest interaction costs, Solv and BNB Chain are committed to unlocking Bitcoin’s immense DeFi potential, heralding BTCFi’s widespread adoption.
To celebrate SolvBTC’s launch on the BNB Chain, Solv is offering a two-week long double points incentive campaign. With a user experience designed for seamlessness, top-notch asset security, and minimal interaction costs, Solv and BNB Chain are dedicated to unlocking Bitcoin’s vast DeFi potential, paving the way for widespread adoption of BTCFi.
Stake your BTC today! — https://app.solv.finance/solvbtc/detail/102
