Solv Protocol Launches a New Staking Abstraction Layer Designed for Cross-Chain Bitcoin Staking

Unified Bitcoin liquidity layer Solv Protocol Unveiling the Staking Abstraction Layer (SAL), a collaborative framework crafted with the help of leading industry partners. BNB Chain , Ceffu , and Chainlink This initiative is focused on removing the hurdles associated with Bitcoin staking, allowing users to earn yields effortlessly while enjoying both liquidity and security. This is a significant advancement towards unlocking Bitcoin's full potential in the decentralized finance (DeFi) landscape.

The partnership with industry leaders is intended to create a robust and secure Bitcoin staking environment. BNB Chain will support onboarding for users, Ceffu plans to offer a secure custody solution, and Chainlink will implement its Cross-Chain Interoperability Protocol (CCIP) to facilitate smooth and secure interactions across various blockchain networks.

Presently, Solv Protocol presents three different Bitcoin staking options, including

Babylon for Bitcoin re-staking, SolvBTC.Core on Core DAO to bolster network security, and SolvBTC.BBN which employs Ethena’s basis trading strategy. The SAL framework integrates all components seamlessly, creating a foundational support structure for Bitcoin staking, enabling holders to stake across diverse networks and earn yields. SolvBTC.Ethena Since its launch in April 2024, Solv Protocol reports that over 20,000 BTC have been staked on its platform, with 13,000 BTC coming specifically from BNB Chain. This surge underscores the increasing interest in Bitcoin staking as new integrations roll out, indicating a wealth of opportunities within this space. With SAL firmly established, Solv Protocol is leading the charge in the BTCFi sector, positioning Bitcoin to secure Proof-of-Stake (PoS) blockchains and participate more actively in DeFi.

Introducing the Staking Abstraction Layer (SAL)

Solv Protocol serves as a decentralized liquidity ecosystem designed for ERC-3525 Semi-Fungible Tokens (SFTs), primarily aiming to link on-chain projects with both individual and institutional investors through a comprehensive liquidity network. Various solutions are offered, including delta-neutral strategies, yield enhancement opportunities, and structured financial products.

the launch of Bitcoin staking options for cbBTC holders on Base, which is designed to simplify secure, cost-effective, and developer-friendly on-chain development. With the cbBTC launch, a wrapped Bitcoin asset offered by Base, users can convert cbBTC tokens into SolvBTC, which can subsequently be exchanged for SolvBTC.BBN.

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