🚀 Solv Protocol Raises $25M to Drive Mass Adoption of Bitcoin Staking with SAL! 🚀

We’re 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 💼

Our strategic funding round saw participation from top-tier firms, including Laser Digital (Nomura), Blockchain Capital, gumi Cryptos Capital, OKX Ventures, and CMT Digital. We’re 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) 💰

With our flagship product, SolvBTC—a “Bitcoin Reserve for Everyone”—we’ve staked over 20,000 BTC, equating to approximately $1.3 billion in Total Value Locked (TVL). We’re 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 🌉

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) 💧

We’ve 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 network’s staking mechanisms.

Ethena LST (SolvBTC.ENA): Leveraging Ethena’s basis trading strategy for yield generation.

A New Era for Bitcoin Staking 🌟

“With a market cap of over $1.2 trillion, Bitcoin has immense growth potential,” said Ryan Chow, Co-founder and CEO of Solv Protocol. “If we can unlock participation rates similar to Ethereum’s 28%, Bitcoin staking could unlock $330 billion in value. We believe BTCFi will drive the next wave of innovation in the blockchain space.”

What’s Next? 🔮

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 we’re excited to lead the future of BTCFi!

#SolvProtocol #SolvBTC #BTCFi #BitcoinStaking #Write2Earn!

In Cap 1, Solv invested the highest amount of advisors with 250 BTC invested in Babylon. Now, we are ready to go even higher with Cap 2!
Choose Solv for proven results and powering the future of Bitcoin in DeFi.
💸 Are you betting on BTCFi? Solv.
app.solv.finance/solvbtc
#SolvProtocol #SolvBTC #BinanceLaunchpoolHMSTR #NeiroOnBinance

🔒 Attention, Solv Community: Stay Alert Against Scams! 🔒
We’re urging everyone in the community to be extra vigilant! Recently, scam emails have surfaced claiming whitelist approvals. Please remember:
Do NOT click on any links in suspicious emails.
Avoid sharing personal information or sending funds under any circumstances.
Always verify any communication directly through official channels before taking any action. Let’s stay safe and protect our assets together!
#StaySafe #SolvCommunity #SolvBTC #CryptoSecurity #Write2Earn!
$USDC

SolvBTC is Solv Protocol's groundbreaking approach to creating a “Bitcoin Reserve for Everyone.”

Dive in🧵👇

Background

The recent shift in WBTC custody from Bitgo has sparked discussions on what should be the definitive Bitcoin standard in DeFi.

On one side, centralized options like WBTC and BTCB offer substantial liquidity and have been battle-tested.

On the other hand, decentralized bridges such as tBTC and dlcBTC, while promising, face challenges with liquidity and DeFi integration.

The Need for a Bitcoin Reserve for Everyone

A unified Bitcoin Reserve is essential to address the diverse consensus levels among Bitcoin assets.

SolvBTC, powered by the Solv Protocol, is designed to meet this need. The Liquidity Consensus Network (LCN) underpins SolvBTC, providing robust safeguards against potential depeg risks to ensure the stability and integrity of the reserve.

All assets included in the SolvBTC Reserve will be subject to consensus and SOLV governance approvals.

Key Features of SolvBTC:

1. 100% Backed and Fully Transparent
Each SolvBTC is backed 1:1 by Bitcoin assets, guaranteeing full support. The decentralized Liquidity Consensus Network (LCN) offers complete transparency, allowing users to verify Bitcoin reserves anytime, enhancing trust and stability within the ecosystem.

Key Features of SolvBTC:

2. Diverse Reserve Assets
SolvBTC’s Bitcoin Reserve will include:
- Native Bitcoin
- Widely Recognized Wrapped Bitcoin (e.g., BTCB, tBTC)
- Bitcoin ETFs

This diverse approach, subject to consensus and governance approval, ensures comprehensive representation of Bitcoin assets.

Key Features of SolvBTC:

3. Seamless Integration with Liquidity Markets
By being part of SolvBTC’s Reserve, Bitcoin holders gain access to the ecosystem's yield and liquidity opportunities.

For instance, by staking SolvBTC, users can engage with Bitcoin Liquid Staking Tokens (LSTs) like SolvBTC.BBN in collaboration with @babylonlabs_io and SolvBTC.ENA with @ethena_labs.

These LSTs offer additional yields and new liquidity streams, enhancing Bitcoin's utility and driving its value growth.

Initial and Future Reserve Assets

Our initial reserve assets are BTC and BTCB.

BTCB is a prominent BEP20 asset on the @BNBCHAIN , offering a 1:1 peg to BTC held on the Bitcoin blockchain. Managed by Binance through a centralized, trust-based model, BTCB provides robust liquidity and reliability. Its proven track record and integration within the BNB ecosystem make it a strong foundation for our reserve assets.

We plan to expand this pool to include WBTC, BTC.b, M-BTC, FBTC, and decentralized options such as tBTC, dlcBTC, pending consensus and SOLV governance approval.

What's Next?

Stay tuned for our next thread, where we’ll delve into the detailed plans and upgrades for the Liquidity Consensus Network, a key component of SolvBTC’s technical infrastructure.

Learn more: https://bit.ly/3WZzDOy
#Bitcoin #Binance #SolvProtocol #SolvBTC