According to TechFlow, the SolvProtocol team has accumulated more than $1.1 billion in TVL (total locked value), ranking high on DefiLlama's tracking list (ranked 33rd at the time of writing). The team launched SolvBTC in March, a Liquid Yield token designed for Bitcoin that aims to unlock the potential of idle Bitcoin.
SolvBTC will focus on promoting the development of Bitcoin Finance (BTCFi), becoming a one-stop platform for Bitcoin income, becoming the key to BTCFi on each chain, and generating attractive returns through Bitcoin staking, re-staking and delta neutral strategies. Solv will also serve as a gateway for existing and newly launched BTCFi on the chain, ensuring sufficient liquidity and continuing to drive the growth of BTCFi.
SolvBTC currently runs on three source chains (BNBCHAIN, arbitrum, and MerlinLayer2). Users can choose the best way to use SolvBTC according to their needs, including farm income, earning Solv points, participating in other on-chain activities, etc.
