It's been a while since we updated Solv $Solv, today we continue to update everyone on $Solv, and there’s some good news these past few days!
BlackRock has officially announced that it is injecting a $3 billion BUIDL fund into DeFi, choosing the Avalanche public blockchain as the main battleground, and the confirmed partner on the DeFi side is Solv— which is the platform that has long ranked first in terms of total value locked (TVL) in the Bitcoin ecosystem. This move is quite significant, indicating that Solv is no longer just focusing on the Bitcoin ecosystem but is officially entering the new track of bringing traditional financial assets on-chain (RWA).
Solv @SolvProtocol has teamed up with Avalanche, Elixir, Euler and three other institutions to launch a new product called SolvBTC.AVAX, which is the world's first Bitcoin yield vault backed by real-world assets (RWA). Simply put, users deposit BTC, and can earn returns by investing in quality assets from traditional finance. The source of returns is very solid, directly connecting to BlackRock's BUIDL fund and Hamilton Lane's SCOPE project, which are core assets of TradFi giants.
The strategy uses Elixir's deUSD loop solution, and the entire process is very clear:
Users first convert BTC to deUSD, then use deUSD to invest in BUIDL/SCOPE these real assets, and after earning returns, convert back to BTC, forming a closed loop. Moreover, the Avalanche officials have also provided substantial financial incentives, clearly wanting to fully promote the implementation of this collaboration.
In the past month, Solv's coin price has already risen over 90%, rebounding more than twice from its low point, but the project’s layout is obviously not just limited to this. As the leading protocol in the Bitcoin ecosystem, Solv is leveraging the resources of BlackRock and Avalanche this time.
The goal is very clear, which is to become the core entry point connecting Bitcoin to traditional financial assets. In the future, users holding BTC may not only profit from price fluctuations but can also directly share in the returns from traditional financial assets through Solv’s platform. This model of "real-world returns feeding back into cryptocurrency" has quite a large imaginative space, so stay tuned for future developments and see how it unfolds!
