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Solv Protocol, in partnership with BNB Chain, Ceffu and Chainlink, is happy to announce the launch of the Staking Abstraction Layer (SAL), an modern framework designed to simplify and standardize Bitcoin staking throughout a number of blockchain ecosystems. With the introduction of SAL, Bitcoin holders can now unlock new income alternatives with out sacrificing liquidity or safety. This marks a significant breakthrough for Bitcoin, the world's most dominant cryptocurrency, because it transforms from a passive retailer of worth to an income-generating asset.
Solv Protocol: The Main Innovation in Bitcoin Staking
Solv Protocol, greatest identified for its flagship product, SolvBTC, is on the forefront of Bitcoin finance improvement. Its “Bitcoin Reserve for Everybody”, SolvBTC, is deployed in 10 completely different blockchain networks, permitting customers to stake Bitcoins whereas sustaining liquidity, revolutionizing DeFi for Bitcoin holders. Since launch, greater than 20,000 BTC have been staked via Solv's merchandise, bringing SolvBTC's Whole Locked Worth (TVL) to roughly $1.3 billion.
With the launch of SAL, Solv expands its bitcoin betting capabilities and simplifies a course of that has historically been restricted by bitcoin's design and lack of native betting options.
SolvBTC LST and their position in Bitcoin betting
Solv has launched three profitable Bitcoin staking merchandise via SolvBTC:
- SolvBTC.BBN: A liquid staking token representing the staked Bitcoin on Babylon that permits BTC holders to earn staking returns. By staking, customers contribute to the safety of PoS chains with the $1.3 trillion financial safety of Bitcoin.
- SolvBTC.ENA: A delta-neutral buying and selling technique that generates returns via Ethena-based buying and selling and affords returns by hedging bitcoin worth volatility.
- SolvBTC.CORE: Targeted on offering Bitcoin liquidity to CoreDAO, permitting customers to stake BTC to safe the community, obtain block rewards, and actively take part within the CoreDAO ecosystem.
These merchandise make sure that Bitcoin holders can earn whereas sustaining liquidity, and now the SAL Framework brings every little thing collectively, growing scalability and cross-chain interactions.
SAL: Constructing the Spine of Bitcoin Stakes
The Staking Abstraction Layer (SAL) is not only one other staking resolution – it’s a complete framework designed to combination and standardize Bitcoin staking throughout a number of blockchain networks. Key options of SAL embrace:
- Cross-Chain Compatibility: Integration with EVM appropriate chains comparable to BNB Chain allows seamless Bitcoin staking throughout completely different networks.
- Liquid Staking Tokens (LST): SAL helps the issuance of Liquid Staking Tokens, which permit customers to take care of liquidity whereas incomes stake rewards.
- Safety and safekeeping: With institutional custodians like Ceffu, SAL ensures that the underlying bitcoins are protected. Chainlink's CCIP additional enhances this with safe and clear cross-chain operations.
This new framework goals to unravel the important thing problems with inter-chain complexity, liquidity constraints and programmability and gives a standardized resolution for Bitcoin staking.
The Manner Ahead: Encouraging Mass Adoption of Bitcoin Stakes
As Bitcoin Finance (BTCFi) continues to achieve momentum, Solv's Staking Abstraction Layer can be a key driver within the mass adoption of Bitcoin staking, with extra companions and integrations to observe.
“SAL is designed to unravel the ache factors which have traditionally hindered Bitcoin betting from taking off,” mentioned Ryan Chow, co-founder and CEO of Solv Protocol. “What excites us most about SAL is its potential to combination all the important thing gamers – validators, protocols, LST issuers and income distributors – into one standardized framework. This opens the door to innovation and income alternatives that have been beforehand unimaginable. By unifying experiences throughout chains and eradicating obstacles, we’re enabling a brand new period of economic alternative for Bitcoin holders.”
In regards to the Solv protocol
Solv Protocol is a number one Bitcoin staking platform that makes use of SolvBTC to unlock the complete potential of Bitcoin belongings exceeding $1 trillion. By offering absolutely clear Proof-of-Reserve, incorporating numerous reserve belongings and enabling entry to Bitcoin Liquid Staking Tokens, Solv affords a complete gateway to BTCFi, paving the way in which for conventional funds to enter the crypto world with confidence.
Solv Protocol is backed by main traders comparable to Binance Labs, Blockchain Capital, Laser Digital and others. Solv Protocol has undergone in depth safety audits by main corporations together with Quantstamp, Certik, SlowMist, Salus, Secbit and Hexagate.
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