Breakthrough for Solv Protocol: $1 Billion TVL, Now a Top 32 DeFi Player

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New York, City, May 22nd, 2024, Chainwire

Solv Protocol, a unified yield and liquidity layer for major digital assets, has surpassed $1 billion in Total Value Locked (TVL), cementing its position as the 32nd largest decentralized finance (DeFi) protocol according to DeFiLlama rankings.

“Reaching this significant milestone is a testament to the strong demand for Solv’s suite of products and the growing adoption of our flagship SolvBTC offering,” said Ryan, founder of Solv Protocol. “As the largest protocol in the BTCFi space by TVL, we are excited to continue driving innovation and unlocking new opportunities for Bitcoin holders and DeFi participants alike.”

SolvBTC is a liquid yield token that tokenizes the best CeFi and DeFi yields in the industry, providing Bitcoin holders with a stable source of high-quality returns. The protocol’s multi-chain integration also enables SolvBTC to boost liquidity in emerging BTCFi ecosystems across Layer 1 and Layer 2 networks.

Solv has launched SolvBTC on Arbitrum, BNB Chain, and Merlin Chain. The protocol is building an ecosystem where users can bridge SolvBTC to farm points in new chains’ points programs, such as a 1.5x multiplier in zkLinkNova’s Aggregation Parade. Additionally, Solv has also introduced the Solv Point System, where users can exchange points for SOLV token airdrops to incentivize engagement.

About Solv

Solv Protocol is backed by strong investors, including Binance Labs, Blockchain Capital, Laser Digital, and other renowned firms. The protocol has also undergone extensive security audits by leading firms such as Quanstamp, Certik, SlowMist, Salus, and Secbit.

For more information about Solv Protocol and its products, please visit the official website at solv.finance.