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Solv Protocol, in collaboration with BNB Chain, Ceffu, and Chainlink, has launched the Staking Abstraction Layer (SAL), an revolutionary framework designed to simplify and standardize Bitcoin staking throughout a number of blockchain ecosystems. ) is happy to announce the launch of . With the introduction of SAL, Bitcoin holders now have entry to new incomes alternatives with out sacrificing liquidity or safety. This marks a serious breakthrough within the transformation of Bitcoin, the world's most dominant cryptocurrency, from a passive retailer of worth to a yield-producing asset.
Solv Protocol: Reducing Edge Innovation in Bitcoin Staking
The Solv protocol, greatest recognized for its flagship product SolvBTC, is on the forefront of advances in Bitcoin finance. Its “Bitcoin Reserve for Everybody,” SolvBTC, is deployed throughout 10 completely different blockchain networks and revolutionizes DeFi for Bitcoin holders by permitting customers to stake their Bitcoin whereas sustaining liquidity. . Since launch, over 20,000 BTC has been staked by means of Solv's merchandise, bringing SolvBTC's whole worth locked (TVL) to roughly $1.3 billion.
With the launch of SAL, Solv expands its Bitcoin staking capabilities and simplifies a course of historically restricted by Bitcoin's design and lack of native staking capabilities.
SolvBTC LST and its function in Bitcoin staking
Solv has efficiently launched three Bitcoin staking merchandise by means of SolvBTC.
- SolvBTC.BBN: A liquid staking token representing Bitcoin staked in Babylon, permitting BTC holders to earn staking yield. By staking, customers assist safe the PoS chain with Bitcoin's $1.3 trillion financial safety.
- SolvBTC.ENA: A delta-neutral buying and selling technique that generates yield by means of Ethena foundation buying and selling and income by hedging in opposition to Bitcoin worth fluctuations.
- SolvBTC.CORE: Centered 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 permit Bitcoin holders to earn cash whereas sustaining liquidity, and now the SAL framework ties every part collectively to reinforce scalability and cross-chain interactions.
SAL: Constructing the spine of Bitcoin staking
Staking Abstraction Layer (SAL) is greater than only a staking answer. A complete framework designed to mixture and standardize Bitcoin staking throughout a number of blockchain networks. The principle options of SAL are:
- Cross-chain compatibility: Integration with EVM-compatible chains reminiscent of BNB Chain permits seamless Bitcoin staking throughout completely different networks.
- Liquid Staking Tokens (LST): SAL helps the issuance of Liquid Staking Tokens that permit customers to keep up liquidity whereas incomes staking rewards.
- Safety and Custody: With institutional-level custodians reminiscent of Ceffu, SAL ensures the protection of the underlying Bitcoin. Chainlink’s CCIP additional enhances this with safe and clear cross-chain operations.
This new framework goals to unravel key challenges reminiscent of cross-chain complexity, restricted liquidity, and programmability, offering a standardized answer for Bitcoin staking.
The best way ahead: Driving mass adoption of Bitcoin staking
As Bitcoin Finance (BTCFi) continues to realize momentum, Solv's staking abstraction layer will probably be a key driver within the mass adoption of Bitcoin staking, with integrations with extra companions deliberate sooner or later.
“SAL is designed to unravel the ache factors which have traditionally hindered the adoption of Bitcoin staking,” mentioned Ryan Chow, co-founder and CEO of Solv Protocol. “What excites us most about SAL is the flexibility to deliver collectively all the main gamers, together with validators, protocols, LST issuers, and yield distributors, below one standardized framework. , opening the door to innovation and creating beforehand unimaginable alternatives. By unifying experiences and eradicating obstacles throughout the chain, we’re bringing a brand new period of economic alternatives to Bitcoin holders. .”
About Clear up Protocol
Solv Protocol is the main Bitcoin staking platform, leveraging SolvBTC to unlock the complete potential of over $1 trillion in Bitcoin belongings. By providing a totally clear proof of reserve, incorporating a wide range of reserve belongings, and permitting entry to Bitcoin Liquid Staking tokens, Solv gives a complete gateway to BTCFi and conventional funds. paves the way in which so that you can enter the world of cryptocurrencies with confidence.
Solv Protocol is backed by distinguished traders reminiscent of Binance Labs, Blockchain Capital, and Laser Digital. Solv Protocol has undergone in depth safety audits by main corporations reminiscent of Quantstamp, Certik, SlowMist, Salus, Secbit, and Hexagate.
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