Solv, a platform that offers on-chain fund management and yield strategies across various blockchains, has launched a new token called SolvBTC. This token will provide a yield of 5-10% and is available on Ethereum, Arbitrum, BNB Chain, and Merlin Chain.
According to Solv, this new token will help catalyze further growth in the Bitcoin DeFi ecosystem. It offers exposure to Bitcoin while also providing the benefits of a yield-bearing asset. The token works by tapping into a secure Trading Strategy Vault and executing delta-neutral strategies on top DeFi protocols like GMX, Curve, and Aave.
Additionally, SolvBTC can be integrated into other DeFi protocols to create unique products and potentially increase yield opportunities. The team at Solv believes this token will transform the Bitcoin ecosystem by allowing billions of dollars worth of BTC to explore DeFi opportunities.
SolvBTC has already been successful in providing real yield for over 35,000 DeFi users, with a total of $6.7 million earned so far. To further boost adoption and expand the reach of Bitcoin DeFi, Solv plans to launch a rewards system for early SolvBTC users.
Solv is also backed by Binance Labs and raised $6 million in a funding round led by Nomura in August 2020. The team has future plans to expand SolvBTC to other blockchains and unlock more earn opportunities for users.
To share this exciting news and spread awareness about SolvBTC, users can earn rewards by participating in a rewards system. With the launch of SolvBTC, Solv hopes to continue driving growth and innovation in the Bitcoin DeFi ecosystem.
