[Singapore, July 16] – Solv Protocol has reported exceptional uptake of its SolvBTC.BBN (SolvBTC Babylon) liquid staking token, underscoring the growing appetite for Bitcoin-based DeFi solutions. The first two epochs of the SolvBTC.BBN product, which allows users to access the Babylon Bitcoin liquid staking from multiple chains, have sold out rapidly.
The 500 BTC capacity in Epoch 1 was filled in just 14 hours, followed by an even more rapid sellout of the 500 BTC capacity in Epoch 2, which was reached in a mere 31 minutes.
“The success of the SolvBTC.BBN epochs demonstrates the market’s strong demand for yield-generating opportunities for Bitcoin assets,” said Ryan Chow, founder of Solv Protocol. “By partnering with Babylon, Solv is providing users across Ethereum, Arbitrum, Merlin Chain, BNB Chain, and other EVM-compatible chains the ability to participate in Bitcoin liquid staking and earn attractive yields.”
When Babylon launches its mainnet, Solv will be among the first participants, positioning SolvBTC.BBN as a pioneering liquid staking token for Bitcoin. This integration will grant users access to the yield-generating capabilities of the Babylon protocol across multiple chains. Furthermore, SolvBTC.BBN will enhance the utility of Babylon staking, as it serves as a liquid staking token that can integrate with diverse DeFi protocols, helping users maximize their earnings.
Solv aims to serve as a unified liquidity layer for Bitcoin, dedicated to driving greater accessibility and interoperability between Bitcoin and Ethereum-based ecosystems, and unlocking more yield opportunities for users.
The next SolvBTC.BBN epoch is set to open soon, providing more users the opportunity to participate in this pioneering Bitcoin liquid staking solution. For more details, please visit the Solv Protocol website at [Solv Finance].
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Biz Economics journalist was involved in the writing and production of this article.
