Solv Launches First Omnichain Yield-Bearing Token for BTC

Singapore, Singapore, March 26th, 2024, Chainwire

Singapore, Singapore, March 26th, 2024, Chainwire

Solv has announced the release of SolvBTC, the first yield-bearing BTC token for the omnichain landscape. Backed by a diverse delta-neutral portfolio, SolvBTC can provide BTC-based yields of 5-10%. 

The development of SolvBTC is a major breakthrough for the Bitcoin ecosystem. As an omnichain token, the token can be accessed on multiple networks, providing the benefits of BTC exposure combined with the upside to holding a yield-bearing asset. As it is integrated into DeFi protocols, with unique products built around it, attainable yield for SolvBTC holders will be further enhanced.

Set to launch on Ethereum, Arbitrum, BNB Chain, and Merlin Chain initially, SolvBTC will subsequently expand to other networks, making it a true omnichain asset. By integrating with protocols on each blockchain where it is available, SolvBTC will unlock opportunities to earn native yield. As a result, BTC holders will be able to increase the value of their assets.

Developed to solve the problem of billions of dollars in BTC lying idle, SolvBTC provides an incentive for BTC holders to participate in DeFi and access the opportunities it has to offer in terms of generating real yield. SolvBTC is controlled by a secure Trading Strategy Vault, which executes delta-neutral strategies across protocols such as GMX, Curve, and Aave.

As SolvBTC expands to new blockchain ecosystems, it will be able to take advantage of opportunities for earning native yield, further boosting the APR available to holders. To bootstrap initial adoption and accelerate the growth of Bitcoin DeFi, Solv intends to launch a points system that will reward early holders of SolvBTC.

The release of SolvBTC will serve as a catalyst for Bitcoin DeFi, stimulating real yield that will provide greater economic opportunities for BTC holders across the entire omnichain landscape.

About Solv

Solv develops native yield strategies for multiple blockchain networks through tokenized trading strategies. More than 35,000 DeFi users rely on Solv to provide yield on their assets. To date, Solv users have earned over $6.7M in real yield. By pursuing delta-neutral trading strategies coupled with robust risk management, Solv provides a sustainable framework for DeFi innovation to flourish. Backed by Binance Labs, NOMURA Group, Mirana, Blockchain Capital and more.

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Ethean Yu