- Colin Wu highlighted SolvBTC's spectacular development.
- SolvBTC attracted greater than 12,000 BTC in Arbitrum, BNB Chain and Merlin Chain.
- Solv Protocol has partnered with Babylon to bridge native re-staking income to SolvBTC.
Main Chinese language blockchain and crypto reporter Colin Wu highlighted the spectacular development of SolvBTC, a cryptocurrency protocol primarily based on Bitcoin. In a latest publish on X, Wu described SolvBTC because the liquidity hub of the Bitcoin ecosystem invested by Binance.
Citing the expansion and improvement of the protocol, Wu famous that SolvBTC has attracted greater than 12,000 BTC in Arbitrum, BNB Chain and Merlin Chain. In accordance with a famend journalist, with a complete worth locked (TVL) of greater than $800 million, Solv has indicated its intention to hitch different sources of BTC earnings quickly.
Wu famous Babylon's earnings as one of many sources of BTC earnings that Solv recognized for potential integration. He famous that the variety of networks supporting SolvBTC bridging is rising, citing networks reminiscent of zkSync and Linea.
Wu's message comes after the Solv protocol he introduced latest partnership with Babylon. In a publish on X, the liquidity heart famous that the Babylon tie-up will enable it to bridge native BTC re-staking revenues to SolvBTC.
In accordance with the Babylon integration protocol, SolvBTC will allow the assist of Proof-of-Stake (PoS) chains, roll-ups and Lively Validated Providers (AVS). It would additionally assist unlock use instances for Bitcoin's appreciable idle liquidity.
In a medium publish, Solv Protocol famous that as Solv's native income platform, it leverages SolvBTC to create an inclusive and dynamic BTCFi ecosystem. She additional highlighted that Solv will function a income tokenization layer by tokenizing staking, restake and DeFi buying and selling income into SolvBTC. As well as, the protocol famous that integration with Babylon would convey Bitcoin liquidity to varied DeFi protocols, fueling the expansion of a thriving BTCFi financial system.
Disclaimer: The data offered on this article is for informational and academic functions solely. This text doesn’t represent monetary recommendation or recommendation of any type. Coin Version shall not be responsible for any losses incurred on account of the usage of stated content material, services or products. Readers are suggested to train warning earlier than taking any motion associated to the Firm.
