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- Colin Wu has highlighted the spectacular progress of SolvBTC.
- SolvBTC has attracted greater than 12,000 BTC in Arbitrum, BNB Chain, and Merlin Chain.
- Solv Protocol partnered with Babylon to bridge native restaking yields on SolvBTC.
Foremost Chinese language blockchain and crypto reporter Colin Wu has highlighted the spectacular progress of SolvBTC, a Bitcoin-based cryptocurrency protocol. In a latest submit on X, Wu described SolvBTC as a Bitcoin ecosystem liquidity heart invested by Binance.
Citing the protocol’s progress and improvement, Wu famous that SolvBTC has attracted greater than 12,000 BTC in Arbitrum, BNB Chain, and Merlin Chain. In response to the famend journalist, with a complete worth locked (TVL) of greater than $800 million, Solv has signified its intention to connect with extra BTC revenue sources quickly.
Wu noticed Babylon’s restaking revenue as one of many BTC revenue sources recognized by Solv for potential integration. He famous that the variety of networks supporting SolvBTC bridging is growing, citing networks like zkSync and Linea.
Wu’s report comes after Solv Protocol introduced a latest partnership with Babylon. In a submit on X, the liquidity heart famous that connecting with Babylon will allow it to bridge native BTC restaking yields on SolvBTC.
In response to the protocol, integrating with Babylon will allow SolvBTC to help the safety of Proof-of-Stake (PoS) chains, roll-ups, and Energetic Validated Providers (AVS). It would additionally assist to unlock the use circumstances for the appreciable idle liquidity of Bitcoin.
In a Medium submit, Solv Protocol famous that as a local yield platform, Solv makes use of SolvBTC to ascertain an inclusive and dynamic BTCFi ecosystem. It additional highlighted that Solv would function a yield tokenization layer by tokenizing staking, restaking, and DeFi buying and selling yields into SolvBTC. Moreover, the protocol famous that the mixing with Babylon would carry Bitcoin’s liquidity into numerous DeFi protocols, sparking the expansion of a thriving BTCFi economic system.
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