đ Solv Protocol Raises $25M to Drive Mass Adoption of Bitcoin Staking with SAL! đ
Weâre thrilled to announce that Solv Protocol has successfully raised $11 million in a strategic funding round, bringing our total funding to $25 million! This new capital, at a $200 million valuation, is a crucial step in our mission to revolutionize Bitcoin staking through our innovative Staking Abstraction Layer (SAL).
Key Investors Fueling Our Vision đŒ
Our strategic funding round saw participation from top-tier firms, including Laser Digital (Nomura), Blockchain Capital, gumi Cryptos Capital, OKX Ventures, and CMT Digital. Weâre also supported by angel investors from leading blockchain projects such as Berachain, Movement Labs, Ethena, and many more. Existing backers like Binance Labs and Spartan Group have been instrumental in our growth journey.
Leading the Charge in Bitcoin Finance (BTCFi) đ°
With our flagship product, SolvBTCâa âBitcoin Reserve for Everyoneââweâve staked over 20,000 BTC, equating to approximately $1.3 billion in Total Value Locked (TVL). Weâre proud to serve over 400,000 users, with more than 80% of assets allocated to yield-generating strategies across 10 major blockchain networks.
SAL: Paving the Way for Bitcoin Staking đ
The launch of our Staking Abstraction Layer (SAL) marks a significant advancement in Bitcoin staking. Developed in collaboration with BNB Chain, Ceffu, and Chainlink, SAL simplifies staking across multiple blockchains. It addresses transparency and programmability challenges, allowing Bitcoin holders to stake seamlessly across various protocols, unifying opportunities and yield sources.
Expanding Yield Opportunities with Liquid Staking Tokens (LSTs) đ§
Weâve introduced three Liquid Staking Tokens (LSTs) that offer unique yield opportunities:
Babylon LST (SolvBTC.BBN): Offering restaking yields.
CoreDAO LST (SolvBTC.CORE): Tied to the Core networkâs staking mechanisms.
Ethena LST (SolvBTC.ENA): Leveraging Ethenaâs basis trading strategy for yield generation.
A New Era for Bitcoin Staking đ
âWith a market cap of over $1.2 trillion, Bitcoin has immense growth potential,â said Ryan Chow, Co-founder and CEO of Solv Protocol. âIf we can unlock participation rates similar to Ethereumâs 28%, Bitcoin staking could unlock $330 billion in value. We believe BTCFi will drive the next wave of innovation in the blockchain space.â
Whatâs Next? đź
Stay tuned as we roll out additional products facilitated by the SAL framework, further expanding yield opportunities for Bitcoin holders. The next chapter of Bitcoin staking is here, and weâre excited to lead the future of BTCFi!
