SolvProtocol has reached a significant milestone, accumulating over 25,000 BTC in deposits, valued at more than $2.6 billion.
This achievement cements Solv as the largest decentralized Bitcoin reserve, driven by the innovation of its flagship product, SolvBTC.
🍊Put Your #Bitcoin to Work with Solv@SolvProtocol has recently achieved a major milestone by accumulating over 25,000 $BTC in deposits, exceeding a value of $2.6B. This positions Solv as the largest decentralized #Bitcoin reserve, fueled by their innovative SolvBTC product.… pic.twitter.com/YfdxcGuDhH
— Bitcoin Ecosystem (@BitcoinEcoTK) November 25, 2024
At the core of Solv’s success is its Staking Abstraction Layer (SAL), a groundbreaking technology that revolutionizes Bitcoin staking. SAL introduces an interconnected framework that improves interoperability across the Bitcoin ecosystem, unlocking the full potential of Bitcoin Finance (#BTCFi).
Currently, SolvProtocol offers multiple SolvBTC Liquid Staking Tokens (LSTs), seamlessly integrated with leading staking and DeFi platforms:
– SolvBTC.BBN: Backed by Babylon Labs (@babylonlabs_io).
– SolvBTC.ENA:Powered by Ethena Labs (@ethena_labs).
– SolvBTC.CORE: Developed in collaboration with CoreDAO (@Coredao_Org).
– SolvBTC.JUP: Supported by Jupiter Exchange (@JupiterExchange).
In addition to serving as a decentralized Bitcoin reserve, SolvBTC and its LSTs are versatile assets compatible with over 40 DeFi protocols. These tokens enhance liquidity and expand Bitcoin’s use cases within decentralized finance.
Highlights from the Bitcoin Ecosystem
The Bitcoin ecosystem saw several notable developments last week, including:
– The launch of dual staking by CoreDAO (@Coredao_Org).
– SideProtocol unveiling $SIDE tokenomics.
– SaturnBTC introducing the first billion-dollar liquidity pool on Bitcoin’s testnet.
– Corn Protocol (@use_corn) surpassing $1 billion in total value locked (TVL).
– Mezo Network (@MezoNetwork) rolling out its Matsnet Alpha.
– A strategic partnership between SolvProtocol and Sonic Labs (@0xSonicLabs).
📙Some of the highlights on #Bitcoin ecosystem last week.
📸Details:🔸@Coredao_Org Dual Staking goes live.🔸@SideProtocol $SIDE tokenomics.🔸@Saturn_btc introduced first BILLION•DOLLAR•CAT liquidity pool on #Bitcoin's testnet.🔸@use_corn surpassed $1B in TVL.… https://t.co/2znmRAWwFK pic.twitter.com/wbgqxfjJ0t
— Bitcoin Ecosystem (@BitcoinEcoTK) November 26, 2024
With its innovative approach and strategic collaborations, SolvProtocol continues to set the benchmark for decentralized Bitcoin staking and financial applications.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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The post SolvProtocol Surpasses $2.6 Billion In BTC Deposits, Leading The Decentralized Bitcoin Reserve Revolution appeared first on The Merkle News.
