#BTC赛道龙头Solv进军RWA@Solv Protocol

In May 2025, the decentralized yield protocol Solv Protocol launched the innovative product SolvBTC.AVAX, which links Bitcoin (BTC) with $4 billion in real-world assets (RWA) held by institutions like BlackRock and Hamilton Lane, including U.S. Treasuries and private credit. This groundbreaking initiative marks the transition of BTC from a 'non-yielding asset' to an 'on-chain yield tool', enabling automated yield distribution through multi-protocol strategies (such as Elixir and Euler), allowing users to earn AVAX rewards, Elixir points, and Solv points simultaneously.

$SOLV's Value-Driven Logic

Surge in Ecological Demand: After the launch of SolvBTC.AVAX, it quickly attracted over 11,000 BTC staked, with TVL surpassing $122 million. As the RWA sector explodes (with a total on-chain market cap of $22 billion), the demand for $SOLV as a governance and incentive token will grow alongside its staking and fee discount functions.

Institutional Endorsement Effect: BlackRock's involvement brings compliance and liquidity premiums to Solv. If it subsequently expands into more traditional asset classes, $SOLV may become the core token in the RWA-Fi sector.

Concerns Regarding Token Economics: The current circulation of $SOLV is only 1.48 billion (total supply of 9.66 billion), with 25% held in private placements and facing a large unlock in January 2026, which may exert short-term selling pressure and suppress prices.

Future Challenges and Ceiling

Sustainability of Returns: The current annualized return of SolvBTC.AVAX is approximately 5%-8%, which is lower than comparable Ethereum DeFi products, and strategies need to be continuously optimized to maintain competitiveness.

Regulatory Risk: The compliance framework for RWA is not yet mature. If the tokenization of U.S. Treasury bonds faces policy tightening, it may impact the stability of Solv's underlying assets.

Market Outlook

Analysts believe that if Solv can solidify its position as a 'BTC yield infrastructure', the market cap of $SOLV may align with Pendle (FDV of $2 billion), but it needs to overcome VC selling pressure and technical bottlenecks. In the short term, attention should be paid to Avalanche ecological incentives and the subsequent cooperation progress with BlackRock, while in the long term, it will depend on the depth of integration between RWA and BTCFi.

1️⃣ The Bitcoin financial product in collaboration with Binance offers an annualized return of up to 3.9% 👉 Stake now

2️⃣ Solv is building institutional-level BTC financial infrastructure and launching the first RWA Bitcoin yield product.