SolvBTC Redemption Announcement

Dear Solv Community,

We appreciate your patience and support as we prepare to open redemptions for SolvBTC across Arbitrum, Merlin Chain, and BNB Chain. We understand that many of you have eagerly awaited this opportunity, and we are committed to ensuring a smooth and rewarding experience for all SolvBTC holders.

SolvBTC has seen incredible adoption, with over 14,000 users participating in the minting process, contributing to a total of more than 18,000 BTC staked with Solv. Your engagement has been vital in shaping SolvBTC’s journey, and we are excited to take this next step together.

When redemptions open, you will have the option to convert your SolvBTC back into wrapped BTC or continue leveraging SolvBTC’s robust ecosystem across multiple chains to ‘Put Your Bitcoin to Work’.

Our goal remains steadfast: to empower Bitcoin holders with the best opportunities and experiences in decentralized finance.

Redemption Schedule

The redemption process will be rolled out across different chains according to the following schedule:

• Arbitrum: Unlocks on June 30, 2024
• Merlin Chain: Unlocks on July 10, 2024
• BNB Chain: Unlocks on July 25, 2024

Redemption Process

To initiate a redemption, follow these simple steps:

1. Connect your wallet and Navigate to the SolvBTC section.
2. Select the chain from which you want to redeem.
3. Follow the instructions to complete the redemption request.
4. Your redemption will be processed within 48 hours. Check progress in ‘My Portfolio’ and claim assets when complete.

We are committed to further streamlining the process and aim to reduce this timeframe to 24 hours in the near future. Timelines may vary across chains due to their deployment schedules.

Maximize Your SolvBTC Holdings

While redemption is now available, we encourage you to explore the powerful opportunities that holding SolvBTC can provide. Here are some compelling alternatives to consider:

Yield Vaults

1. SolvBTC Ethena Yield Vault

• Put your BTC to work by earning Ethena’s sUSDe yields and 10x SATs, along with additional Solv points, while maintaining Bitcoin exposure.
• Learn More & Stake.

2. SolvBTC Babylon Yield Vault

• Stake your SolvBTC in the upcoming Babylon yield vault, preparing for Babylon’s mainnet launch and future yields.
• Learn More & Stake.

Cross-Chain Farming

Expand your earning potential by engaging in cross-chain farming with your SolvBTC. Our BTCFi ecosystem provides numerous opportunities to earn yields across different chains, allowing you to diversify and maximize your returns.

• Bridge your SolvBTC to other chains and participate in various DeFi protocols.
• Farm on multiple platforms to earn additional rewards.

For detailed guides and opportunities, visit our SolvBTC Navigation page.

150,000 ARB STIP-Bridge for SolvBTC Users on Arbitrum

As a reminder, SolvBTC holders on Arbitrum can benefit from our ongoing ARB STIP-Bridge Distribution, providing incentives for liquidity providers, SolvBTC participants, and yield market participants. This initiative underscores our commitment to delivering value to our users and enhancing the overall SolvBTC experience.

Why Hold Your SolvBTC?

Proven Track Record and Active Development

At Solv Protocol, we pride ourselves on being a team of action and results. We are continuously integrating SolvBTC and its Liquid Staking Tokens (LSTs) into the top yield opportunities across the crypto space. By holding SolvBTC, you gain access to a wide array of high-quality, innovative yield-generating options. Our unwavering commitment is to provide our users with the most lucrative opportunities to maximize earnings on their Bitcoin.

Leading Bitcoin LST Protocol

Solv Protocol is the number one Bitcoin LST protocol in terms of integrations. We have successfully partnered with over 20 decentralized applications (dApps) and have bridged our assets across more than 6 different chains. This extensive network allows our users to farm points and earn rewards in a variety of ecosystems, maximizing their earning potential.

Unifying Wrapped Bitcoin and Onboarding Mainnet Bitcoin

Our ultimate aim is to unify wrapped Bitcoin and onboard Bitcoin from the mainnet, a $1.3 trillion asset. By holding SolvBTC, you are part of a pioneering effort to bring greater liquidity, utility, and earning potential to Bitcoin holders. This strategic vision underlines our dedication to enhancing the BTCFi ecosystem and delivering unparalleled value to our users.

By participating in our yield vaults and cross-chain farming, you can continue to grow your assets without the need for redemption. SolvBTC provides you with the unique advantage of leveraging the full potential of the BTCFi ecosystem, ensuring your Bitcoin works harder and more effectively for you.

Thank you for being a part of the Solv community. We look forward to continuing this journey together and building a thriving BTCFi ecosystem.

Best Regards,

The Solv Protocol Team

For more information, visit our official website and follow us on Twitter.