Breakthrough for Solv Protocol: $1 Billion TVL, Now a High 32 DeFi Participant

New York, Metropolis, Might twenty second, 2024, Chainwire

Solv Protocol, a unified yield and liquidity layer for main digital property, has surpassed $1 billion in Whole Worth Locked (TVL), cementing its place because the thirty second largest decentralized finance (DeFi) protocol based on DeFiLlama rankings.

“Reaching this vital milestone is a testomony to the robust demand for Solv’s suite of merchandise and the rising adoption of our flagship SolvBTC providing,” mentioned Ryan, founding father of Solv Protocol. “As the most important protocol within the BTCFi house by TVL, we’re excited to proceed driving innovation and unlocking new alternatives for holders and DeFi contributors alike.”

SolvBTC is a liquid yield token that tokenizes one of the best CeFi and DeFi yields within the trade, offering Bitcoin holders with a steady supply of high-quality returns. The protocol’s multi-chain integration additionally allows SolvBTC to spice up liquidity in rising BTCFi ecosystems throughout Layer 1 and Layer 2 networks.

Solv has launched SolvBTC on Arbitrum, BNB Chain, and Merlin Chain. The protocol is constructing an ecosystem the place customers can bridge SolvBTC to farm factors in new chains’ factors applications, similar to a 1.5x multiplier in zkLinkNova’s Aggregation Parade. Moreover, Solv has additionally launched the Solv Level System, the place customers can alternate factors for SOLV token airdrops to incentivize engagement.

About Solv

Solv Protocol is backed by robust buyers, together with Binance Labs, Blockchain Capital, Laser Digital, and different famend corporations. The protocol has additionally undergone intensive safety audits by main corporations similar to Quanstamp, Certik, SlowMist, Salus, and Secbit.

For extra details about Solv Protocol and its merchandise, please go to the official web site at solv.finance.

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ContactEthean Yuethean@solv.finance

This text was initially printed on Chainwire