SolvBTC is the first profitable BTC that generates income while maintaining spot exposure. From BRC-20 and Ordinals, I have been optimistic about the latest developments of Bitcoin in terms of increasing utility, not just as a store of value. For me, considering the scale of the asset class and the nascent nature of the current on-chain DeFi/NFT space, it makes sense to continue pushing the forefront of BTC development.
Solv Protocol aligns with my overall bullish narrative in this space, as they recently launched SolvBTC: the first ever profitable BTC. The key highlights are as follows:
Most of the Bitcoin remains idle as there are limited reasons for holders to transfer and utilize its Bitcoin value.
SolvBTC is the first profitable BTC that generates income while maintaining spot exposure. The income is generated through three strategies: staking, restaking, and trading strategy income.
SolvBTC will integrate across various chains and dApps, with the Solv protocol acting as a unified liquidity gateway.
SolvBTC income will be generated through three strategies: 1) Staking income from BTC Layer2 such as Merlin Chain, Stacks, Botanix, Bsquare, Bitlayer, etc. 2) Restaking income from networks like Babylon. 3) Trading strategy income from Layer2 networks such as Arbitrum and BNB Chain.
Personally, I enjoy trying out various strategies to ensure risk diversification and the best returns for users.
The advisory board (composed of internal members and key external partners) will also serve as a check and balance, providing guidance and ensuring transparent and credible strategies.
Next step: Market launch and expansion of the BTCFi ecosystem.
SolvBTC has been launched on Arbitrum and Merlin Chain, and the Solv platform’s Bitcoin asset management volume has exceeded 2700 BTC, with a total TVL of over $260 million.
So far, the other vaults of SolvBTC have generated over $7 million in income, and I am excited to see what this will bring to SolvBTC. Additionally, given that SolvBTC has similar characteristics to ERC20, it can be integrated into various dApps and chains, improving liquidity and serving as a multi-chain BTCFi Lego block.
Points system: The Solv team has announced that the points system will launch on April 5, which may reward early adopters of SolvBTC (note: the token is not yet listed).
Funding: The team has raised a significant amount of funding from investors such as Binance Labs and Laser Digital, conducting four rounds of funding with a total amount of $11 million, including undisclosed funding from Binance Labs in the strategic round.
To start earning BTC income, click here for those interested.
Related links:
Twitter: https://twitter.com/SolvProtocol
Website: https://app.solv.finance/points/FCN884
Documentation: https://docs.solv.finance/solv-documentation/getting-started/overview
DeFi Llama: https://defillama.com/protocol/solv-protocol
Tags: BRC-20, DeFi, NFT, Solv Protocol, SolvBTC, Ethereum, Binance Coin, platform coin, Bitcoin, strategies
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