🚀Solv Protocol has launched the second phase of its SolvBTC.BBN liquid staking token (LST) deposits across multiple networks, including Ethereum, BNB Chain, Arbitrum, and Merlin Chain.🔒To ensure a secure launch, an initial cap has been implemented on the amount of Bitcoin eligible for staking.

💰Staking rewards will be distributed proportionally among participants based on their staked BTC amounts. As the staking cap gradually increases, SolvBTC.BBN tokens will be fully backed by Bitcoin staked in Babylon at a 1:1 ratio, including rewards.

🎉In response to community feedback, the staking cap has been boosted from 500 SolvBTC to 1000 SolvBTC. The incentive plan has also been revised, offering 12 XP per $1 per day once the 1:1 backing requirement is met.

SolvBTC.BBN is designed to extend Bitcoin's economic security to Proof-of-Stake blockchains and will be incorporated with multiple DeFi protocols to enhance flexibility and accessibility within the BTCFi ecosystem.

What are your thoughts on this development? Share in the comments! 💭👇