DeFi
Solv Protocol Integrates with Ethena to Unlock the Yield Potential of Bitcoin-Based Assets
Singapore, Singapore, June 5, 2024, Chainwire
Resolution protocol, the leading DeFi platform providing liquidity and yield opportunities across major assets, announced a landmark integration with Ethena. This partnership represents an important step in creating strong yield opportunities for Bitcoin-based assets, which have historically lagged behind Ethereum and other EVM-enabled chains in this regard.
Through this partnership, Solv Protocol will launch the “SolvBTC Yield Vault – Ethena” on its Yield Marketplace, allowing users to deposit SolvBTC and earn yields through Ethena’s strategies while maintaining their exposure to Bitcoin. Returns will be distributed in Bitcoin, which generates returns through delta-neutral arbitrage, as well as Ethena’s sats incentive. Vault depositors can also continue to earn Solv Points, giving them multiple sources of income.
“Solv Protocol is dedicated to providing SolvBTC users with the strongest and most diverse yield opportunities,” said Ryan Chow, founder of Solv Protocol. “Our integration with Ethena marks the beginning of our efforts to transform SolvBTC into a truly liquid yield token with unparalleled earning potential for our community.”
Historically, yield generation opportunities for Bitcoin-based assets have been limited compared to Ethereum and other EVM-enabled chains. This integration represents a significant milestone as it brings the strategies of a premier yield protocol to the Bitcoin DeFi ecosystem. This also opens the door for SolvBTC, the liquid Bitcoin asset of the Solv protocol, to become a yield-generating instrument with earning potential that rivals, or even exceeds, leading yield tokens on other chains. SolvBTC is available on BNB Chain, Arbitrum, Merlin Chain and other networks.
The SolvBTC Yield Vault – Ethena’ represents the first of many collaborations planned by Solv Protocol to introduce new yield sources and strategies to the expanding SolvBTC ecosystem.
Backed by leading investors such as Blockchain Capital, Binance Labs, and Laser Digital, Solv Protocol has successfully achieved numerous milestones, boasting a total value locked (TVL) of over $1.1 billion, ranking it among the 32 best protocols on DefiLlama all channels combined. Over 15,000 BTC were used to generate a return on Solv, equivalent to over $1 billion at current prices.
Meanwhile, Ethena’s TVL stands at $2.75 billion. Ethena is described as a next-generation DeFi protocol that improves yield optimization and simplifies the DeFi experience. The platform is designed for yield farmers, liquidity farmers, and all DeFi users looking to get the most out of their capital.
About the Solv protocol:
Resolution protocol is a revolutionary yield aggregation and liquidity platform that tokenizes and consolidates high-quality returns from various sources. At the heart of Solv’s offering is the creation of “liquid yield tokens,” which unlock new revenue opportunities in the blockchain ecosystem.
The flagship product, SolvBTC, allows users to seamlessly participate in the growing “BTCFi” space, serving as the key to unlocking Bitcoin-powered DeFi on every chain.
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Contact
Éthean Yu
Ethean@Solv.finance