With the continuous development of BTCFi, the full-chain yield protocol Solv Protocol is rapidly rising. In addition to receiving investment from Binance, the TVL has increased by 40% in the past month, making it currently the 27th largest protocol. Solv Protocol allows users to stake Bitcoin in exchange for SolvBTC liquidity yield tokens, thereby earning project points. In addition, what other interactive methods are included in the Solv ecosystem?
Solv Protocol is a full-chain yield and liquidity protocol designed to provide one-stop yield services for mainstream assets such as BTC and USDT. Its core product is the SolvBTC liquidity yield token, which users can stake Bitcoin from the following public chains to exchange for SolvBTC:
Arbitrum: WBTC
Merlin: MBTC
BSC: BTCB
Bitcoin mainnet: By invitation only for early access
Redemption functionality is currently not available but is expected to be open later this month. Users who stake to obtain SolvBTC can earn 4 times XP points per $1 daily. Additionally, participating in their yield market can earn 1 time XP point per $1 daily. The points will be redeemed for their native token $Solv in the future.
Currently, Solv Protocol’s TVL is the 27th largest protocol according to DeFiLlama’s statistics, reaching $1.18 billion, with a growth of nearly 40% in the past month. Activities on Merlin (purple) and BSC (blue) have dominated this year.
The cornerstone of Solv Protocol products is the ERC-3525 semi-fungible token standard, which was approved by the Ethereum Foundation in 2022 to address the shortcomings of traditional ERC-20 and ERC-721 token standards. Solv Protocol’s founders have rich experience in their respective fields, with a total funding amount of over $11 million, including investments from institutions such as Binance, Blockchain Capital, and IOSG Ventures.
According to the official website, Solv Protocol has passed contract audits from several security companies and ensures fund security through smart contracts or trusted third-party custody accounts. Solv Guard security mechanism has been implemented to restrict fund movement and enhance the standardization and transparency of smart contract security controls.
Staking SolvBTC on the official website can enjoy 10-15% sUSDe yield, earn 6 times XP points per $1 daily, and Ethena Sats points. Participants should be aware that redemption is only available after the end of the Ethena second season points program or when the USDe market value reaches $5 billion, which is currently at $3.35 billion.
SolvBTC holders can bridge to the Core chain to participate in the DeFi ecosystem and earn 5 times point rewards. Additional information on how to participate can be found on the Binance tutorial.