2024.04.04

Project Introduction

Solv Protocol is a full-chain basic income protocol that provides services for increasing income of currency-based assets. Solv Protocol will become the liquidity distribution layer of the BTCFi ecosystem and the Lido of the BTC ecosystem. Users can deposit BTC into Solv Protocol to obtain SolvBTC as the first full-chain BTC interest-bearing asset, and enjoy strategy-based income. The strategy income comes from a variety of Delta neutral strategies denominated in BTC on platforms such as Binance, Bybit and GMX.

Why is it worth it?

Solv has received investment from Binance Labs, Nomura Securities, Mirana, Blockchain Capital and other institutions. Solv has launched Arbitrum, Ethereum, Mantle, BSC and Polygon, with a TVL of about 120 million US dollars and 35,000+ users; SolvBTC has launched Arbitrum and Merlin networks, with a TVL of 212 BTC (about $140M).

Compared with Lido, the largest Defi protocol, there are currently 10M (8.3% of the total supply) of ETH pledged through Lido, with a TVL of 33 billion US dollars. At the current BTC price, only 2.5% of the total supply of BTC needs to be deposited in Solv to achieve the same TVL as Lido. As the first full-chain interest-bearing protocol in the BTC ecosystem, it is not difficult to achieve this goal in response to the huge demand of BTC holders. It can be said that the project has great potential.

Solv will open the Solv Points System on the 5th (join before the 5th to become an early bird user), and you can get Solv points by staking WBTC on Arbitrum and M-BTC on Merlin. For those who have already staked on MerlinSeal, if there is no short-term funding demand, you can deposit the M-BTC obtained by staking into Solv, achieving the benefits of killing two birds with one stone.

It is worth noting that the deposited funds cannot be redeemed before June, and the first redemption will be available after June. At the same time, no interest income will be generated at present, only $Solv airdrops will be available. The project team wants to ensure the stable growth of TVL first, and improve the underlying security mechanism before providing interest income to users (estimated to be three months).

Operation Tutorial

First, we click on the link https://app.solv.finance/points/EYJPV6 to enter the Solv staking page and link the wallet in the upper left corner.

After the link is completed, you can choose to stake WBTC on Arbitrum or stake M-BTC on Merlin. The tutorial will be divided into two parts:

Decision

We click Arbitrum to enter the WBTC staking page, enter the amount of WBTC we want to stake in the Stake box, complete the authorization, click Stake, and after completing the wallet interaction, the pledge is successful.

Merlin

Click Merlin to enter the staking page, click Switch Network, then enter the amount of M-BTC you want to stake, complete the authorization, click stake, and after completing the wallet interaction, the staking is successful.

It should be noted that what we pledge is M-BTC instead of BTC. If you don’t have it, you can go to Merlin Swap to exchange the BTC in your wallet for M-BTC

Daily snapshot of points earned

Accelerator Card

When the amount of pledged reaches a certain threshold, you can get an acceleration card. The more you pledge, the higher the level of the acceleration card. The acceleration card will be dynamically adjusted according to the daily pledge amount. If the pledge amount decreases, the acceleration card will also be downgraded.

Improved points = basic points x acceleration card multiplier

Invitation System

By sending your invitation code to other users to pledge, you can get 10% of the other party’s points as an additional reward.

Project Summary

BN's investment in BTC Yu'ebao has unlimited potential. If you have extra BTC, you can consider putting it in to earn airdrops and interest. You can also continue to deposit SolvBTC on Avalon, killing two birds with one stone.