- Colin Wu highlighted SolvBTC's spectacular progress.
- SolvBTC has attracted over 12,000 BTC on Arbitrum, BNB Chain, and Merlin Chain.
- Solv Protocol companions with Babylon to bridge SolvBTC’s native restaking yield.
Chinese language blockchain and cryptocurrency guru Colin Wu highlighted the spectacular progress of SolvBTC, a Bitcoin-based cryptocurrency protocol. In a latest publish on X, Wu described SolvBTC because the liquidity heart of the Bitcoin ecosystem during which Binance has invested.
Citing the expansion and improvement of the protocol, Wu identified that SolvBTC has attracted over 12,000 BTC on Arbitrum, BNB Chain, and Marlin Chain. In keeping with a outstanding journalist, Resolve, which has over $800 million in complete worth locked (TVL), has indicated its intention to connect with extra BTC income sources within the close to future.
Wu highlighted Babylon’s re-staking income as one of many sources of BTC income that Solv has flagged as a possible integration. He identified that the variety of networks supporting SolvBTC bridging is rising, citing networks comparable to zkSync and Linea.
Wu's report was printed after the Solv protocol introduced Latest partnership with Babylon. In a publish to
In keeping with the protocol, the mixing with Babylon will allow SolvBTC to assist proof-of-stake (PoS) chains, rollups, and energetic verification service (AVS) safety. It additionally helps unlock Bitcoin's appreciable idle liquidity use case.
In a Medium publish, Solv Protocol stated it’s leveraging SolvBTC as its native yield platform to determine a complete and dynamic BTCFi ecosystem. Moreover, it highlighted that Solv acts as a yield tokenization layer by tokenizing yield from staking, restaking, and DeFi transactions into SolvBTC. Moreover, the protocol famous that the mixing with Babylon will deliver Bitcoin liquidity to numerous DeFi protocols, fostering the expansion of a thriving BTCFi financial system.
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