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New York, September 12, 2024 – Solv Protocol, a number one Bitcoin staking platform, has introduced Bitcoin staking for cbBTC holders on Base, an Ethereum Layer 2 providing safe, low-cost and creator-friendly onchain growth.
With the launch of cbBTC, a packaged Bitcoin asset from Base, Solv Protocol allows the minting of cbBTC tokens into SolvBTC, which might additional be transformed into SolvBTC.BBN – a liquid staking token that expands the Bitcoin DeFi surroundings on Base.
Dedicated to constructing a extra accessible and decentralized onchain economic system, Base welcomes this integration because it permits Bitcoin holders to leverage their DeFi belongings extra effectively.
By means of Solv protocol integration, Bitcoin holders with cbBTC can mint SolvBTC after which convert it to SolvBTC.BBN. This integration permits Bitcoin holders to make use of their belongings extra effectively and unlock seamless betting choices inside the decentralized monetary ecosystem.
“The mixing of cbBTC as a reserve asset is a big step in direction of unifying Bitcoin liquidity and making the Bitcoin DeFi expertise accessible to customers,” stated Ryan Chow, co-founder of Solv Protocol. “This launch is completely aligned with Solv's mission to increase the utility of Bitcoin in decentralized finance and supply extra alternatives for return and liquidity to Bitcoin holders.”
The introduction of cbBTC Bitcoin betting choices and the Solv Protocol represents a serious step within the onchain economic system. Base infrastructure helps builders and makers around the globe by providing scalable options for quite a lot of use instances. In flip, the Solv protocol enhances the Bitcoin DeFi surroundings by offering clear and safe staking choices, making DeFi extra accessible to a wider vary of customers.
Base and Solv Protocol construct bridges to a decentralized future the place anybody, wherever can take part within the onchain economic system. This collaboration highlights the probabilities for innovation when builders come collectively to create new monetary alternatives.
Extra particulars in regards to the integration and future updates might be discovered on the Solv official web site.
Concerning the Solv protocol
Solv Protocol is a number one Bitcoin staking platform designed to unlock the total potential of Bitcoin belongings in decentralized finance. By providing SolvBTC, a liquid staking token backed by a various vary of reserve belongings, Solv Protocol supplies a clear and safe gateway to BTCFi (Bitcoin Decentralized Finance), enabling each conventional and digital native buyers to discover the advantages of onchain monetary providers.
Concerning the Base
The inspiration is Ethereum Layer 2 (L2), which presents a safe, low-cost and creator-friendly method for anybody, wherever to construct an onchain. With a mission to construct a world onchain economic system that enhances innovation, creativity and freedom, Base is dedicated to shaping a extra decentralized future.
