原文标题：Unlocking Bitcoin: Solv Protocol Over $1.2B TVL Takes the Lead as Babylon’s Go-To LST
Original author:arndxt
Original source: https://substack.com/
Compiled by: Mars Finance, Daisy
Unlocking Bitcoin: Solv Protocol becomes Babylon’s preferred LST (liquidity staking token) with over $1.2 billion TVL (total value locked)
In less than 5 blocks, Babylon’s funding limit has been reached and 1,000 BTC have been obtained
Solv Protocol has paid more than 12 BTC in gas, with a total locked value of more than $1.2 billion and more than 400,000 users. The protocol has received support from Binance and Jump.
Here’s why you should get involved in earning Solv Points and receiving airdrops across all three protocols.
Main content
Solv Protocol: Creates a Bitcoin reserve for everyone, where users who hold Bitcoin can earn returns on their Bitcoin holdings.
Funding raised: $16 million from investors including Binance Labs, Blockchain Capital, and Laser Digital.
Earn points: Users can earn Solv points by holding and staking SolvBTC.
Potential Airdrops: TGE (Token Generation Event) is coming (Q4)… Solv Points may be associated with future airdrops…
Thoughts on BTC Ecosystem
I have been thinking about converting some of my ETH to BTC and wanted to share my thoughts. Despite the drop in BTC last year, holding ETH still makes sense for many of us because:
Revenue Opportunities
Airdrop farming on L2
Protocols like Eigenlayer
Given the upcoming BTC L2 development, converting some of your ETH to BTC may be a smart option, a relatively low-risk move that could lead to large returns if we see a successful ecosystem emerge.
BTC Opportunities
Now, with Babylon coming online, we may see similar opportunities emerge for BTC. Yes, most BTC L2s have been disappointing so far in terms of on-chain activity and ecosystem development. But remember, it only takes 1-2 successful ecosystems to spark enthusiasm for L2 or new L1 again (think Arbitrum/OP ecosystem in 2023).
Why consider switching?
When considering the potential for yield farming and airdrops, converting some of your ETH to BTC seems like a low-risk trade, especially for retail investors like us.
Thoughts on BTC L2 development
The new BTC L2 should focus on incentivizing on-chain activities, not just “deposit BTC and get points”.
Learn from successful points programs: most offer 1.5-3x uplifts to promote LPs or lending, diluting “base” depositors.
Possible WBTC to BTC L2 bridge, earning arbitrage and fees.
Don’t rule out the possibility that meme BTC bridges like $MUBI could become popular again.
In short, Babylon is about to go online, I am very optimistic about Solv Protocol, and I suggest you join before the public participates.
The Babylon funding cap was filled almost immediately: when it first went live, Babylon staking reached the 1,000 BTC cap within 5 blocks, demonstrating huge demand.
Stakers paid $3.2 million in fees, and getting 250 BTC staked cost roughly $700,000 in fees, all of which was paid by Solv!
What is Solv Protocol?
Solv is pioneering a Bitcoin reserve through SolvBTC, unlocking over $1 trillion in Bitcoin assets through transparent proof of reserves and seamless liquidity integration.
This creates a gateway for BTCFi and paves the way for traditional funds to confidently enter the crypto world. Their flagship product is Liquid Collateralized Bitcoin on the Babylon platform, SolvBTC.
It is currently the leading LST on Babylon, with over 2800+ BTC staked to SolvBTC.BBN and over 30k users.
Solv Protocol solves the challenge of idle BTC on blockchain networks by building a Bitcoin reserve that is suitable for everyone, enhancing yield and liquidity. The platform operates on three core pillars:
Liquidity Consensus Network (LCN): Manages cross-chain liquidity through dynamic, transparent and auditable operations, integrates multiple sources of liquidity, and supports cross-network Bitcoin transfers.
SolvBTC
SolvBTC is a liquidity token backed 1:1 by Bitcoin.
SolvBTC can also be converted into liquid staking tokens such as SolvBTC.BBN and SolvBTC.ENA and deployed on multiple networks including Bitcoin Mainnet, Ethereum, and BNB Chain.
The First Multi-Chain Bitcoin LST: SolvBTC.BBN
The most groundbreaking thing about SolvBTC.BBN is its status as the first true multi-chain Bitcoin LST.
Unlike its competitors, SolvBTC.BBN can be minted on multiple chains, including BNB chain, Ethereum, Arbitrum, Mantle, Avalanche, and Merlin. This cross-chain capability enables users to leverage SolvBTC.BBN in various DeFi ecosystems, enhancing liquidity and achieving seamless integration with a wide range of DeFi applications.
This multi-chain approach not only provides flexibility, it also makes SolvBTC.BBN a strong and versatile asset, distinguishing it from other Bitcoin LSTs and allowing Solv to expand through more partnerships.
What’s even more exciting is that through Solv, users can get more farming opportunities on the Fuel and Mezo networks, two huge protocols that may bring airdrop opportunities. 👇
Strategic partnerships before Babylon mainnet launch
In preparation for Babylon’s mainnet launch, SolvBTC.BBN has secured multiple tier-one partnerships that will be critical to its continued growth and adoption.
The integrations with Fuel Network and Mezo Network are particularly noteworthy as they align with Solv’s vision of creating a Bitcoin-centric financial ecosystem.
Fuel Network: Fuel Network is known for its Rollup OS for Ethereum, and its integration with SolvBTC.BBN demonstrates the strategic alignment between the two platforms.
As Fuel Network focuses on modularization and parallelization, SolvBTC.BBN users can look forward to participating in Fuel’s pre-deposit program and earning Fuel points in preparation for Fuel’s mainnet launch.
The $80 million Fuel raised during a period of low Bitcoin valuation shows confidence and support for Fuel.
Mezo Network: Mezo Network is focused on building the economic layer of Bitcoin and shares Solv’s commitment to a Bitcoin-centric world.
Mezo’s integration of tBTC, a decentralized BTC bridge, complements SolvBTC.BBN’s vision for a comprehensive Bitcoin reserve.
As Mezo’s mainnet launch approaches in Q4, Solv Protocol users can look forward to more yield-generating and DeFi participation opportunities.
The partnership with Mezo opens the door to BitcoinFi applications, Bitcoin-native financial infrastructure, and tokenization of real-world assets, further expanding the utility and impact of SolvBTC.BBN.
Solv Points and Airdrops!
You may want to bookmark and save this article. Here I will share the steps.
Users can now earn Solv Points by holding and interacting with SolvBTC. Although there is no official confirmation of the token launch, early participation in the Solv Points system will prepare users for potential future rewards as interest in cross-chain Bitcoin deployment grows.
Solv Potential Airdrop Steps to Earn Solv Points
1. Connect your wallet:
Visit the Solv Points page and connect your wallet (e.g. MetaMask, Rabby).
Make sure you have a BTC asset on Arbitrum (such as WBTC) and enough ETH to pay for gas fees.
2. Get SolvBTC:
Go to the “SolvBTC” section, select your network, enter the amount, approve and confirm the transaction.
Receive SolvBTC in your wallet.
3. Pledge SolvBTC (optional):
Go to “SolvBTC.ENA” and complete KYC to stake your SolvBTC to receive additional rewards.
This step is optional; you can still earn points by holding SolvBTC.
4. Providing liquidity:
All Solv ecosystems are concentrated in one place, and users can easily access the rich and diverse ecosystem of SolvBTC. This motivation stems from the need for liquidity, because liquidity is the oxygen of DeFi.
Visit the Liquidity page, select a DeFi protocol, enter the amount and confirm the transaction to earn points.
5. Explore the income market:
Check out the Yield Market for farming opportunities.
Select an option to approve and confirm the transaction.
Approval and confirmation of liquidity provision through Solv.
