SOLVBTCENA
SolvBTC Ethena
SolvBTC Ethena
SOLVBTCENA
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Über uns SolvBTC Ethena
SolvBTC.ENA is a yield-bearing Liquid Staking Token (LST) that enables Bitcoin holders to participate in Ethena’s basis trade strategy while maintaining Bitcoin exposure. By using Bitcoin as collateral to borrow stablecoins, SolvBTC.ENA allows users to mint and stake Ethena’s USDe, generating returns from Ethereum staking and delta hedging derivative positions. Rewards include sUSDe yields, Ethena SATs, and Solv Points, with profits subject to a 20% performance fee. As a liquid token, SolvBTC.ENA remains accessible across multiple blockchain networks, providing enhanced DeFi integration. Users benefit from passive yield growth, security, and flexible redemptions. Developed by Solv Protocol, SolvBTC.ENA is part of a broader ecosystem designed to unify Bitcoin liquidity and maximise its utility in decentralised finance.
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:
- Pegged LSTs: Maintain a 1:1 peg to Bitcoin, enabling seamless transfers across blockchains while preserving liquidity.
- 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.ENA is a Liquid Staking Token (LST) designed for Bitcoin holders participating in Ethena’s basis trade strategy. This strategy uses Bitcoin as collateral to borrow stablecoins, which are then utilised to mint and stake Ethena’s USDe. The process generates yields from two primary sources:
- Ethereum Staking & Funding: Returns generated from staking on Ethereum.
- Basis Spread: Profits earned from delta hedging derivative positions.
Holders of SolvBTC.ENA maintain exposure to Bitcoin while earning rewards, including sUSDe yields, Ethena SATs, and Solv Points. A performance fee of 20% is applied to the profits generated by the strategy, aligning interests and incentivising optimal performance.
Key Points About SolvBTC.ENA:
- Yield-Bearing Token: Earn staking rewards and maintain Bitcoin exposure through Ethena’s strategy.
- Multi-Reward Opportunities: Access sUSDe yields, Ethena SATs, and Solv Points.
- Cross-Chain Accessibility: SolvBTC.ENA is accessible across multiple blockchain networks for enhanced DeFi integration.
- Institutional-Grade Security: Assets are safeguarded by Solv’s security infrastructure.
- Performance Fee: A 20% fee is applied to profits to ensure performance alignment.
SolvBTC.ENA provides multiple benefits and use cases for Bitcoin holders within Ethena’s ecosystem:
- Earning Multi-Source Yields: Generate returns from Ethereum staking, delta hedging, and Ethena SATs.
- DeFi Integration: Unlock additional yield opportunities through DeFi protocols while maintaining Bitcoin exposure.
- Maintaining Bitcoin’s Value: Each SolvBTC.ENA token represents staked Bitcoin plus rewards, ensuring liquidity and continued exposure.
- Flexible Redemption: Redeem SolvBTC.ENA for Bitcoin through Solv’s platform at scheduled intervals.
SolvBTC.ENA was developed by Solv Protocol, founded in 2020 by Ryan Chow, Will Wang, and Mike Meng. The protocol focuses on enhancing Bitcoin’s utility in DeFi by introducing innovative solutions like SolvBTC and its Liquid Staking Tokens (LSTs).
