Solv Launches First Omnichain Yield-Bearing Token For BTC

Singapore, Singapore – March 26th, 2024

In an exciting development for the Bitcoin ecosystem, Solv, a leading decentralized finance (DeFi) platform, has announced the launch of SolvBTC – the first omnichain yield-bearing Bitcoin token. Backed by a diverse delta-neutral portfolio, this new token aims to provide annualized yields of 5-10% for BTC holders.

Revolutionizing Bitcoin with an Omnichain Yield-Bearing Token

SolvBTC represents a significant leap forward in the crypto landscape. As an omnichain token, SolvBTC can be accessed across multiple networks, offering the advantages of BTC exposure along with the potential benefits of holding a yield-bearing asset. As it becomes integrated into various DeFi protocols, unique products built around SolvBTC will further enhance attainable yields for holders.

Expanding Across Multiple Networks

Initially launching on Ethereum, Arbitrum, BNB Chain, and Merlin Chain, SolvBTC will subsequently expand to other networks, cementing its status as a true omnichain asset. By integrating with protocols on each blockchain where it is available, SolvBTC holders will unlock opportunities to earn native yield. This expansion enables BTC holders to increase the value of their assets and tap into various blockchain ecosystems.

Addressing Idle BTC and Boosting DeFi Adoption

Developed to address the issue of billions of dollars in Bitcoin remaining idle, SolvBTC offers an incentive for BTC holders to participate in DeFi and seize the opportunities it presents. Controlled by a secure Trading Strategy Vault, SolvBTC implements delta-neutral strategies across protocols like GMX, Curve, and aave to execute trades and generate yields.

Accelerating Growth with a Rewards System

To incentivize early adoption and foster the growth of Bitcoin DeFi, Solv plans to launch a points system that rewards early SolvBTC holders. This move will further catalyze the expansion of Bitcoin DeFi and provide greater economic opportunities for BTC holders across the entire omnichain landscape.

About Solv

Founded in 2021, Solv is a trailblazing DeFi platform focused on developing native yield strategies for multiple blockchain networks through tokenized trading strategies. With over 35,000 users and $6.7M in real yield earned to date, Solv is a trusted choice for DeFi enthusiasts seeking sustainable yields. The platform’s delta-neutral trading strategies and robust risk management framework create a stable foundation for innovation in the decentralized finance sector, backed by leading investors such as Binance Labs, NOMURA Group, Mirana, and Blockchain Capital.