Solv Protocol launches first omnichain yield-bearing token for BTC
SolvBTC will catalyse further growth for the burgeoning Bitcoin DeFi ecosystem, Solv said in a press release. Initial launch will be across Ethereum, Arbitrum, BNB Chain and Merlin Chain. Solv, an on-chain fund platform that offers native yield strategies across the blockchain ecosystem, has launched the first yield-bearing BTC token. Solv BTC is an omnichain yield-bearing token that benefits from a diverse delta-neutral portfolio and will provide BTC -based yield of between 5-10%. Solv, which provides asset-yield for over 35,000 DeFi users, shared the news in a press release shared with CoinJournal on Tuesday. SolvBTC to boost Bitcoin DeFi ecosystem The new BTC-based token provides both exposure to Bitcoin as well as the benefits of holding a yield-bearing asset. How does this work? According to Solv, the omnichain token taps into a secure Trading Strategy Vault, with delta-neutral strategies executed across top DeFi protocols like GMX, Curve, and ...