Collaboration Between Solv Protocol and Babylon Unveils SolvBTC.BBN, Raising Over 500 BTC in Just 14 Hours
In Brief
In anticipation of the Babylon mainnet rollout, Solv Protocol has launched SolvBTC.BBN, a Liquid Staking Token tailored specifically for Bitcoin.
Unified Bitcoin liquidity layer Solv Protocol The launch marks the debut of SolvBTC.BBN, a Liquid Staking Token crafted for Bitcoin as part of a broader initiative to augment the Babylon mainnet launch.
Babylon functions as a protocol that allows Bitcoin staking, enabling BTC holders to provide over $1.3 trillion in economic security to multiple networks, generating staking rewards in return.
SolvBTC.BBN is designed as a Liquid Staking Token that seamlessly interacts with a range of decentralized finance (DeFi) protocols, offering remarkable flexibility and access within the BTCFi landscape. This token not only allows users to earn staking rewards by bolstering Bitcoin’s economic foundation but also facilitates its use across various DeFi platforms for additional earnings. Noteworthy benefits include compatibility with decentralized exchanges (DEXs), lending services, and yield-trading environments.
Bitcoin holders from numerous blockchains can now effortlessly tap into Babylon’s staking incentives, eliminating the burdens of high transaction fees and lengthy block times typical of the Bitcoin mainnet. This encompasses BTC holders from the Bitcoin Mainnet, as well as FBTC and WBTC users on Ethereum, BTCB participants on BNB Chain, WBTC users on Arbitrum, and M-BTC holders on Merlin Chain .
Furthermore, Bitcoin holders are given the chance to stake their BTC, enhancing economic stability across various networks while potentially reaping staking rewards.
Solv Protocol Extends Solv Points Promotion for Ten More Days
Upon its launch, SolvBTC Babylon boasts an initial capitalization of 400 SolvBTC, which is set to grow progressively. Early adopters are rewarded with enticing Solv Points incentives: the first 100 SolvBTC yield a 20 XP or 2x multiplier, the subsequent 150 SolvBTC provide 15 XP or a 1.5x multiplier, while the last 150 SolvBTC come with a 1.2x multiplier.
Early participation in Babylon The staking ecosystem under Solv Protocol has seen exceptional success, reaching a milestone of 500 SolvBTC capitalization in just 14 hours. Consequently, Solv Protocol intends to keep the 20XP/$1 Solv Points offer available for another ten days.
Solv Protocol This platform represents a decentralized liquidity framework tailored for ERC-3525 Semi-Fungible Tokens (SFTs). It enables connections between on-chain entities while also linking individual and institutional investors within a liquidity network. Moreover, it offers various solutions such as delta-neutral strategies, yield enhancement techniques, and structured financial products.
Disclaimer
In line with the Trust Project guidelines Please be aware that the information presented on this page is not intended as legal, tax, investment, or any other form of professional advice. It is vital only to invest what you can afford to lose and to seek independent financial guidance if uncertain. For more information, we recommend reviewing the terms and conditions alongside the help and support resources offered by the issuer or advertiser. MetaversePost strives for accurate and impartial reporting; however, market conditions can shift without prior notice.
