According to TechFlow, on October 18, Cointelegraph reported that Solv Protocol launched the Bitcoin staking token SolvBTC.JUP on the Solana network, aiming to attract Bitcoin holders to cope with the increasing income opportunities in the Bitcoin ecosystem.
SolvBTC.JUP is a Liquid Staking Derivative (LSD) designed to earn Bitcoin-denominated returns from trading fees on Jupiter Exchange, one of the most popular decentralized exchanges on Solana.
Solv said they deployed a delta-neutral strategy by hedging traders’ net open positions on centralized exchanges to reduce the risk of volatile token prices in the Jupiter liquidity pool.
