Recently, according to BeInCrypto's observation, the cryptocurrency exchange Binance has announced the launch of the 3rd project on Binance Megadrop after Lista Protocol, Solv Protocol, and the SOLV cryptocurrency. So what is the Solv Protocol and what problem does it solve in the Crypto market? Let's explore this further in this article.
What is Solv Protocol? What's special about the 3rd project launched on Binance Megadrop?
According to the published whitepaper, Solv Protocol is a decentralized platform. It seamlessly integrates the Bitcoin (BTC) network into the vast DeFi ecosystem today. In other words, by doing this, users can use Bitcoin in DeFi without having to sell or convert their BTC into other Altcoins.
To achieve this, Solv Protocol will build an On-chain Bitcoin Reserve. Through the Staking Abstraction Layer, SolvBTC and SolvBTC.LST (Liquid Staking Token), both retail and institutional investors can maximize their returns on the BTC they hold. Solv Protocol is supported by renowned investors such as Binance Labs, Blockchain Capital, Laser Digital, OKX Ventures... In parallel, Solv Protocol has undergone security audits from leading companies, including Quantstamp, Certik, SlowMist, Salus, and Secbit.
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