Solv Protocol Hits $1.44B in Assets, Expands Bitcoin Staking
Solv Protocol, a decentralized finance (DeFi) platform, has reached a significant milestone. With $1.44 billion in assets locked, it's expanding Bitcoin staking opportunities. The platform's Staking Abstraction Layer (SAL) is set to simplify and standardize staking across various networks.
Launched in April, Solv Protocol has already staked over 20,000 BTC. Notably, 13,000 BTC came from BNB Chain, indicating strong support from its main partner. SAL, introduced by the protocol, enables users to earn additional income through three strategies: SolvBTC.BBN, SolvBTC.Core, and SolvBTC.Ethena.
Bitcoin's market capitalization, currently around $1.2 trillion, signals substantial potential for staking. SAL makes this process more accessible and efficient for users. Key partners in SAL's implementation include BNB Chain, Ceffu, and Chainlink.
In October 2024, RedStone, an oracle provider, launched a tool for smooth Bitcoin staking. This tool, along with SAL, is set to revolutionize Bitcoin staking, making it more user-friendly and widespread.
With $1.44 billion in assets locked and over 20,000 BTC staked, Solv Protocol's SAL is poised to transform Bitcoin staking. Backed by prominent partners and with a user-friendly approach, it's set to unlock new opportunities in the crypto market.
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