Solv Protocol to Bring Bitcoin Yield Opportunities to Solana with SolvBTC.JUP
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Solv Protocol has launched SolvBTC.JUP, a new Liquid Staking Token (LST) aimed at integrating Bitcoin with Solana’s decentralized finance (DeFi) ecosystem.
Currently in its pilot phase, this initiative seeks to allow Bitcoin holders to earn BTC-denominated returns directly on Solana’s network, according to a press release shared with Cryptonews.com.
SolvBTC.JUP allows Bitcoin holders to deposit their BTC into Solv Protocol, receiving SolvBTC.JUP in return.
The token represents staked Bitcoin, providing holders with an opportunity to earn yield while maintaining exposure to BTC.
The yield is generated by Solv’s participation in the Jupiter Exchange’s Liquidity Provider (JLP) Pool.
Solv Protocol utilizes a delta-neutral strategy, hedging the traders’ net open interest on centralized exchanges, to mitigate market volatility.
This approach allows for stable, risk-adjusted returns of approximately 12%, payable in BTC.
“This strategy provides Bitcoin holders with a reliable way to earn returns in BTC, differentiating itself from speculative yield-bearing strategies,” the firm said.
7/ SolvBTC Liquid Staking Tokens (SolvBTC.LSTs)
Leveraging SAL, we’ve introduced three LSTs:
