Solv Protocol Partners with BNB Chain to Launch SolvBTC, Offering Double XP for BTC Stakers
Solv Protocol, a decentralized forum for creating, managing, and trading financial NFTs, has recently announced a partnership with BNB Chain. As part of this collaboration, Solv Protocol has launched SolvBTC on the BNB Chain, providing exclusive earning opportunities to the community. The partnership aims to bring significant benefits to the BNB community.
The protocol took to Twitter to announce the launch of SolvBTC on BNB Chain, stating, “SolvBTC is now live on @BNBCHAIN! As we expand our horizons, we’re thrilled to bring native yield opportunities to the BNB community.”
In addition to the launch, Solv Protocol is offering double XP for BTC stakers on the BNB Chain. The company aims to strengthen the ecosystem and empower its users through this initiative. The launch of SolvBTC marks a significant milestone in Solv Protocol’s mission to create a liquidity hub for the BTCFi ecosystem.
SolvBTC operates as a pioneering project that redefines BTC composability and yield, providing a secure and convenient source of local yield while ensuring unmatched composability and liquidity. The protocol seamlessly integrates with various DeFi protocols to unlock multiple yield opportunities for users.
Within just a few weeks of its launch, SolvBTC has seen remarkable growth, with approximately 1,000 wBTC staked tokens on Arbitrum and over 6,000 mBTC tokens on Merlin Chain. This rapid adoption demonstrates the potential of SolvBTC to lead the way in creating an effective BTC yield economy.
SolvBTC’s integration with Merlin Chain ensures its potential as a liquidity hub, with the SolvBTTC-mBTC pool boasting a significant trading volume. Real-time audits of the BTC reserves are conducted to ensure transparency, and the collaboration with Antalpha for digital asset custody ensures security for users.
Overall, the partnership between Solv Protocol and BNB Chain, along with the launch of SolvBTC, promises exciting opportunities for the BNB community and sets the stage for a thriving BTC yield economy.
Source: [Blockchain Reporter](https://blockchainreporter.net/solv-protocol-announces-the-launch-of-solvbtc-on-bnb-chain/)
