With a locked amount of 2.8 billion US dollars, it claims to be the second in the ranking of funds of unissued protocols. I guess no one dares to claim to be the first.
Moreover, Solv has reached in-depth cooperation with top industry partners such as Babylon, Ethena, Jupiter, CoreDAO, etc., and has established a super ecosystem of more than 10 public chains and 50 DeFi protocols.
Today I will take you to check out the dominant player in the BTCFi track @SolvProtocol, which is absolutely terrifying
🏅 Solv Status
🔹Total locked funds: 2.842 billion USD (leader in BTCFi)
🔹Five rounds of financing totaling US$25 million (Binance strategic investment)
Solv is the first to propose the Bitcoin staking industry standard: Staking Abstraction Layer (SAL)
The staking abstraction layer hopes to unify various Bitcoin revenue sources from various ecosystems and provide users with a safe and unified staking entry. By solving the liquidity fragmentation problem and simplifying Bitcoin staking, Bitcoin staking will be promoted to large-scale applications.
🚀Bitcoin vs Ethereum
Bitcoin staking lags far behind Ethereum’s staking rate of 28%
Imagine if Bitcoin could achieve a similar collateralization rate as Ethereum, it would mean releasing about $330 billion in value, which would greatly boost the BTCFi explosion and become a huge pump for the entire industry.
Solv's valuation has suddenly increased to 330 billion US dollars, and the ceiling is extremely high
🌈Project Background
@SolvProtocol
Founded in Singapore in 2020, it integrates all BTC staking scenarios, covering BNB, Arb, Base, ETH, Core, Avalanche and other chains, paving the way for the large-scale adoption of "Bitcoin staking"
Raised USD 25 million in financing, led by Binance Strategic Investment, Blockchain Capital of the United States, Laser Digital of Nomura Securities of Japan, and other well-known venture capitals
🏄♂️Airdrop Interaction Tutorial
Solv allows users to mint SolvBTC on any supported chain. There are many ways to interact. I use the BNB chain. Let me show you the nesting doll process. It is a perfect way to eat four fishes at once.
1⃣ Log in to the official website
https://app.solv.finance/points/39YNR2
Withdraw BTC from the exchange to your wallet. Note that it is to withdraw BNB chain. The handling fee is only 0.5U
2⃣ Deposit Bitcoin (Matryoshka 1)
Click SolvBTC above, select BNB Chain, click Deposit, and convert your BTCB to SolvBTC
(1 USD 2 credits/day)
3⃣ Deposit Babylon (Matryoshka 2)
Click Staking above and exchange the SolvBTC for SolvBTC.BBN. You can then get both Babylon and Solv points.
(1 USD 12 points/day)
4⃣ Deposit into Defi (Matryoshka 3)
Click Defi above, click BNB chain, and choose a protocol to store SolvBTC.BBN
SatLayer, Avalon, Sumer, Kinza and other protocols have not issued coins yet. Just pick one you like and plug it in.
My personal choice is @avalonfinance_, a good project selected in Binance MVB Phase 8
5⃣ Deposit into Defi (Matryoshka 4)
Borrow in Avalon, borrow 65% of SolvBTC.BBN, and then deposit it into @kinzafinance’s pool Supply SolvBTC.BBN (there is no liquidation risk for the same currency, and a little change is left as interest)
Kinza is a good project selected for the 6th phase of Binance MVB and is very close to coin issuance
🌋One fish, four ways to eat it, call it a day
✅Summary
🔹If the Staking Abstraction Layer (SAL) launched by Solv can become the universal standard for the Bitcoin staking industry, it will be a huge contribution to the industry, and the valuation of this leader will definitely be higher
🔹BTCFi track is definitely a hot commodity that CEX is fighting for. These projects are all big whale users with big funds, which can bring new funds and new users to the exchange. The project parties and the exchanges are two-way. I hope to see the top exchanges fighting for it in the future.
🔹Through the above interactions, we got points from four major projects: Solv, Babylon, Avalon, and Kinza. It’s so comfortable to eat four fish with one fish.
🔹Solv has integrated more than 50 ecosystems and DeFi protocols, with many ways to play, you can explore them yourself
🔹The airdrop industry has turned to the deposit and pledge track. The trend of the times cannot be stopped by you and me, "little scoopers". If you don't have much money, you can participate with a low-security number. The single number must be at least 100U
That’s all the experience I shared today. I wish you all good harvests from the airdrop.
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