Solv Protocol is the leading Bitcoin staking protocol, building a robust Bitcoin-focused financial ecosystem by unlocking liquidity and maximizing the utility of idle Bitcoin assets.
SOLV Token Utility
SOLV is the native utility token of the Solv Protocol and serves the following purposes:
Governance: SOLV token holders can vote on network governance decisions.
Staking: By staking SOLV tokens on the Staking Abstraction Layer (SAL), users can earn protocol emissions.
Fee Discounts: SOLV token holders enjoy discounted fees, including those for redeeming SolvBTC.
Core Components of Solv Protocol
SolvBTC: A token pegged 1:1 to BTC, enabling secure cross-chain transfers and seamless DeFi participation for Bitcoin holders.
SolvBTC.LSTs (Liquid Staking BTC): Liquid Staking Tokens that allow Bitcoin holders to generate yield while maintaining liquidity.
Staking Abstraction Layer (SAL): SAL abstracts the complexities of staking Bitcoin across multiple ecosystems and provides a unified interface for Bitcoin holders, enabling them to earn yield across various blockchains.
Token Sale and Distribution
The project has raised approximately $24 million through four private token sale rounds, selling 28.86% of the genesis token supply:
Raised $1M at a valuation of $20M.
Raised $4.5M at a valuation of $45M.
Raised $6.6M at a valuation of $80M.
Raised $11.7M at a valuation of $200M.
As of December 31, 2024:
Maximum Token Supply: 9,660,000,000 SOLV (dynamic, may increase via network governance for Bitcoin Reserve Offering).
Genesis Token Supply: 8,400,000,000 SOLV.
Circulating Supply at Binance Listing: 1,482,600,000 (17.65% of genesis supply, 15.35% of maximum supply).
1. What is Solv Protocol?
Solv Protocol is a Bitcoin staking protocol, building a financial ecosystem around Bitcoin to unlock over $1 trillion in Bitcoin assets.
Through the Staking Abstraction Layer (SAL), SolvBTC, and SolvBTC.LST (Liquid Staking Tokens), Solv Protocol enables both retail and institutional investors to capture diverse yield opportunities without sacrificing liquidity, seamlessly integrating Bitcoin into the DeFi ecosystem.
1.1 Mission of the Project
The mission of Solv Protocol is to unleash Bitcoin's full potential by converting over $1 trillion in idle BTC into yield-generating assets and establishing it as the on-chain reserve for Bitcoin in DeFi.
1.2 Value Proposition
Unlock the potential of idle BTC by transforming over $1 trillion of dormant Bitcoin into active, yield-generating assets through innovative staking solutions.
Build secure, decentralized infrastructure to enhance Bitcoin's utility, enabling liquidity and yield generation across ecosystems while maintaining transparency and trust.
1.3 Key Highlights
Staking Abstraction: Solv Protocol’s SAL abstracts numerous processes and hundreds of parameters for Bitcoin staking, managing the complexities across ecosystems and providing a unified interface for Bitcoin holders.
Non-Custodial: Solv Protocol employs decentralized mechanisms for asset management during Bitcoin staking. Smart contract interactions, Bitcoin scripts, and third-party verifiers ensure user assets are processed in a non-custodial environment.
Bitcoin Reserve Offerings (BRO): Solv plans three initial BROs, each minting 42M SOLV tokens for convertible bond sales (targeted for Q1, Q2, and Q3 2025). These sales acquire BTC for protocol-owned reserves. The bonds mature in one year, with SOLV token claims available in 2026. Subsequent BROs will be DAO-managed, potentially increasing token supply via network governance.
1.4 Existing Products
Solv Protocol offers a suite of products designed to enhance Bitcoin’s utility and liquidity in the DeFi ecosystem.
SolvBTC
A token pegged 1:1 with BTC, enabling seamless cross-chain transfers and unlocking DeFi participation for Bitcoin holders.
Supports native BTC and various BTC derivatives (BTCB, WBTC, cbBTC, etc.) across multiple blockchains, including Ethereum, BNB Chain, Arbitrum, Avalanche, and more.
SolvBTC.LSTs (Liquid Staking Tokens)
SolvBTC.LSTs expand Bitcoin's DeFi reach by allowing users to earn yield while maintaining liquidity.
Features four distinct product lines:
SolvBTC.BBN: Liquid staking based on Babylon.
SolvBTC.JUP: Delta-neutral strategy based on Jupiter.
SolvBTC.CORE: Liquid staking based on CoreDAO.
SolvBTC.ENA: Delta-neutral strategy based on ETH.
SolvBTC DeFi Vault
The SolvBTC DeFi Vault simplifies user interaction with LSTs and DEXs, reducing transaction complexity and costs.
1.5 Technical Details
Staking Abstraction Layer (SAL) is the core infrastructure of Solv Protocol. It abstracts the complexities of Bitcoin staking across ecosystems and provides a unified interface.
Key components include:
Staking Abstraction Matrix (SAM): Core data model consolidating Bitcoin staking data, including script configurations, transaction parameters, and profit distribution rules.
LST Issuance Service: Ensures security and accuracy in issuing and redeeming BTC LSTs.
Staking Verification Service: Verifies staking transactions against defined parameters in the SAM.
Transaction Construction Service: Builds staking transactions aligned with protocol requirements.
Profit Distribution Service: Calculates and distributes staking yields.
Token Distribution
Token Allocation (of genesis supply)
Token Allocation (of max supply as at December 31, 2024)
Token Release Schedule (of max supply as at December 31, 2024)
Bitcoin Reserve Offering
Solv’s preliminary plan includes three BROs in 2025, each minting 42M SOLV tokens for convertible bond sales to acquire BTC for reserves. The bonds mature in one year, with claims available in 2026. Future BROs will be DAO-managed.
Roadmap
Q1 2025
CEX and DEX listings.
Integrations with ecosystems like BeraChain, Sonic, zkSync, Soneium, and Sei.
Launch of exchange campaigns and SOLV Point Campaign #2.
First Bitcoin Reserve Offering and launch of SolvBTC.RWA.
Q2 2025
Second Bitcoin Reserve Offering.
SolvDAO launch.
BTC ETF integration into SolvBTC Core Reserve.
Additional SolvBTC.LSTs.
ETF Tokenization.
Ecosystem Progress: Over 10 chains integrated and counting, with more than 50 DeFi partners.
Exchange Campaigns: Includes Binance, OKX, Bybit, and more.
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This article is for informational purposes only. The information provided is not investment advice
