Solv Protocol is an on-chain Bitcoin reserve platform designed to integrate Bitcoin into decentralised finance (DeFi) ecosystems. By leveraging its unique Staking Abstraction Layer, Solv enables users to unlock the potential of Bitcoin as a yield-generating asset without sacrificing liquidity. The protocol utilises SolvBTC and SolvBTC Liquid Staking Tokens (LSTs) to unify fragmented Bitcoin liquidity across chains and provide access to diverse DeFi opportunities.

SolvBTC is backed 1:1 by native Bitcoin or trusted wrapped Bitcoin assets, ensuring security and transparency through a Proof-of-Reserve (PoR) system. The platform works with both retail and institutional users, enabling seamless participation in DeFi across multiple blockchains such as Ethereum, BNB Chain, Arbitrum, and others.

SolvBTC LSTs are tokens designed to enhance the utility of staked Bitcoin while maintaining liquidity. These tokens allow Bitcoin holders to stake their assets, earning yields while still being able to utilise their holdings across DeFi platforms.

There are two main types of SolvBTC LSTs:

1. Pegged LSTs: Maintain a 1:1 peg to Bitcoin, enabling seamless transfers across blockchains while preserving liquidity.
2. Yield-Bearing LSTs: Accrue staking rewards over time, offering long-term earning potential while maintaining the flexibility to participate in DeFi ecosystems.

Examples of SolvBTC LSTs include:

• SolvBTC.BBN: A pegged LST representing Bitcoin staked in the Babylon ecosystem to secure Proof-of-Stake networks.
• SolvBTC.CORE: A pegged LST for staking Bitcoin in the CoreDAO ecosystem, generating yields in CORE tokens.
• SolvBTC.ENA: A yield-bearing LST leveraging a basis trade strategy within the Ethena ecosystem to generate returns.

These tokens are interoperable across multiple blockchains and provide opportunities for yield generation, liquidity provision, and participation in DeFi applications.

SolvBTC is a DeFi-compatible token backed 1:1 by Bitcoin or trusted wrapped Bitcoin assets. It enables Bitcoin holders to bridge their assets into decentralised finance ecosystems while addressing liquidity fragmentation across blockchains.

Users can mint SolvBTC by depositing Bitcoin or wrapped Bitcoin assets, which are classified into a tiered reserve system:

1. Core Reserve Assets: Secure and liquid assets like BTC and BTCB (Binance Bitcoin).
2. Isolated Reserve Assets: Risk-managed reserves that are segregated from the core system.

SolvBTC facilitates Bitcoin liquidity provision, cross-chain transfers, and staking opportunities, allowing holders to access DeFi protocols across multiple ecosystems.

SolvBTC is designed to enhance the utility of Bitcoin within decentralised finance through:

• Liquidity Provision: SolvBTC can be used to supply liquidity on decentralised exchanges and DeFi protocols.
• Staking and Yield Generation: Bitcoin holders can stake SolvBTC to earn yield without locking their assets.
• Cross-Chain Transfers: The token enables seamless movement of Bitcoin assets across various blockchain networks.
• Collateral in DeFi Applications: SolvBTC can be used as collateral for lending, borrowing, and other DeFi activities.
• Integration with DeFi Ecosystems: Through partnerships with platforms such as Chainlink, SolvBTC facilitates secure cross-chain interoperability.

Solv Protocol, the creator of SolvBTC, was founded in 2020 by Ryan Chow, Will Wang, and Mike Meng.

• Ryan Chow (Co-founder and CEO): With expertise in global financial systems and blockchain-based solutions, Ryan launched Solv Protocol to provide decentralised asset management.
• Will Wang (Co-founder and CTO): A proposer of the EIP-3525 Ethereum protocol, Will led the development of Solv Protocol’s technological infrastructure.
• Mike Meng (Co-founder): Mike contributed to the protocol’s strategic development and fundraising efforts.

The team aims to transform Bitcoin into an active, yield-generating asset, bridging decentralised, centralised, and traditional financial systems.