SOLV Protocol, a financial service provider for Bitcoin BTC$ 109,634.75 Holders, cooperates with decentralized Oracle Network Chainlink to integrate real-time verification of SOLV’s actual BTC reserves that support its liquid token, SOLVBTC, directly in its price feed. This integration improves transparency and builds more trust for users.
In contrast to traditional priceFeeds that are exclusively dependent on market data, the new SOLVBTC-BTC-secured exchange rate feed exchange feed exchange calculations with real-time proof of reserves, so that a repayment percentage of the chains is firmly anchored in verifiable collateral.
In addition, the mechanism contains built -in upper and lower limits based on reserve data, making it resistant to manipulation and safer for use in decentralized credit markets such as Aave.
“We zijn verheugd om met ChainLink te werken om een veilige wisselkoersfeed te lanceren. Dit markeert een belangrijke evolutie in Defi-beveiliging, waardoor protocollen meer nauwkeuriger gewikkeld activa kunnen prijs door te gebruiken door de verlossingspercentages te gebruiken die zijn geworteld in verifieerbaar onderpand, aangedreven door de kettinglinkstandaard,” zei Ryan Chow, mede-oprichter en CEO van SOLV, in a press release shared shared.
The SOLVBTC-BTC Secure Exchange Feed is now live on the Ethereum Minet, with plans to expand to other chains, including Bob.
SOLVBTC, launched in April 2024, is a Bitcoin-Supported Liquid Movement possibly that enables BTC holders to participate in decentralized Financial Ecosystems (Defi) and earnings to earn with retention of BTC exposure. Users can deposit BTC and Mint Solvbtc, a liquid representation of Steates -BTC, usable over various Defi protocols, including safes, decentralized fairs (DEXS) and credit platforms.
Chainlink’s Proof of Reserve (Por) uses its decentralized Oracle network to check whether the on-chains delivery of tokenized assets, such as stablecoins or wrapped assets, is fully supported by actual reserves of the chain or on other block chains.
With billions of dollars in packed assets that are circulating in Defi, transparent, reliable price determination mechanisms are becoming increasingly critical. By combining Por with price feeds on top of Chainlink’s existing cross-chain interoperability via CCIP, SOLV can safely function as collateral over multiple block chains.
Johann Eid, Chief Business Officer at Chainlink Labs, summarized it well: “By combining real -time colland verification with exchange rate logic, this solution provides a redemption percentage rooted in cryptographic truth, which increases the security standard for wrapped assets in deficiency.”
