SOLV has launched a new Bitcoin token on Avalanche with which holders can earn a Real-World by asseted proceeds with the help of big names such as BlackRock.
SOLV Protocol, a Bitcoin (BTC) design platform, has just dropped a new token called Solvbtc.avax, with the aim of helping Bitcoin holders to earn yields on their BTC on the Avalanche network.
In a press release that is shared with crypto.news, SOLV said that the newest product comes from a team-up of seven players: SOLV, Avalanche, Elixir, Euler, RE7 Labs, LFJ and Balancer, with institutional support of heavyweights such as Blackrock and Hamilton Lane, who more than $ more than $.
Ryan Chow, founder of SOLV Protocol, said that the product “is not just an efficiency product”, and calls that it is a “framework for tuning Bitcoin with the wider financial world.”
Built on the Blockchain of Avalanche, Solvbtc.Avax is a yield-bearing bitcoin token that Deusd uses, a stablecoin supported by assets such as American treasuries and private credit, with the treasuries provided by BlackRock and Hamilton Lane, a Defi Liquidity.
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According to the press release, such a subsequent use is used on the Euler Lending protocol to strengthen the RWA exposure, while RE7, a risk management company, supervises the markets on Euler, including those for SOLVBTC, Dusd and Sdeusd. The remaining capital is used in liquidity pools on LFJ and Balancer to earn swap costs and avax solutions, according to the press release.
SOLV automates mining, loan, composition and reward distribution, where avalanche offers the fast and cheap blockchain infrastructure. In addition to proceeds, holders of SOLVBTC.AVAX can also earn rewards in Avalance (Avax) tokens and other stimulation points, aimed at increasing adoption through a triple low reward system.
As Crypto.news reported earlier, BlackRock’s Tokenized Geldmarktfonds Buidl has officially added to the decentralized financing sector. Euler Labs, the company behind the Euler protocol, confirmed in an X -post that Sbuidl withdrawn a token 1: 1 by BlackRock’s Buidl and published by Securitize, is now live on the Euler protocol, which marks the first direct integration of Sbuidl with Defi.
Read more: Exclusive: Secondswap is spreading to Avalanche to stimulate locked token trade
