Author: Ash

Compiled by: TechFlow

The @SolvProtocol team has amassed over $1.1B in TVL (total value locked), topping the leaderboard tracked by @DefiLlama #33at the time of writing).

Reaching $1 billion in TVL is an incredible achievement, especially since the team only launched SolvBTC in March.

1. Review of Solv Protocol and SolvBTC

  • SolvBTC is a Liquid Yield token for Bitcoin designed to unlock the potential of idle Bitcoin.

  • To promote the development of BTCFi (Bitcoin Finance), SolvBTC will focus on the following aspects:

    • Become a one-stop platform for Bitcoin earnings.

    • Be the key to BTCFi on every chain.

    • Generate attractive returns through Bitcoin staking, re-staking, and delta-neutral strategies.

  • Solv will also serve as a gateway for existing and newly launched on-chain BTCFi, ensuring sufficient liquidity and continuing to drive the growth of BTCFi.

Below is a detailed breakdown of each aspect of BTCFi and how I personally utilize SolvBTC:

2. How to farm

I am very optimistic about the flexibility of SolvBTC.

Do I want to farm with Bitcoin? Or would I prefer points? Or both? Depending on your needs, the way you use SolvBTC may differ.

I personally allocate part of my funds to points farming as it is also a good way for me to try out various dApps and chains.

Since SolvBTC is currently running on three source chains (@BNBCHAIN, @arbitrum, and @MerlinLayer2), I tried to farm not only on these source chains, but also on non-source chains and different types of credits.

My specific operation method:

  • Farm in Arbi's SolvBTC @ethena_labs yield vault to earn 10-15% yield and 2.5x Solv Points.

  • Farm on @airpuff_io on Merlin and get 2x Solv points.

  • Bridge Bitcoin from BNB to @avalonfinance_ (core) to get 5x Spark multiplier (bridge link).

In this way, I achieved five purposes with one SolvBTC: generating Bitcoin income, earning Solv points, participating in Airpuff activities, getting 5x Spark multiplier, and other on-chain activities (such as Merlin, Core, etc.).

The team has also created a frequently updated cheat sheet to help users choose the best way to use SolvBTC based on their needs.

3. Conclusion

My strategy achieved the goals I set for my bankroll:

  • Capital efficiency (farm Y protocols using one asset across X chains).

  • Yield (via the newly launched Ethena Yield Vault).

  • Points (Solv points and others).