During the 2024 KBW event, Bitcoin staking became one of the hot topics. Solv Protocol co-organized a theme event with Eigenlayer, GoPlus Security, Altlayer and Dodo Chain to discuss BTC, AVS and security. At the event, Solv founder and CTO Will Wang announced the "Solv Integrated Bitcoin Staking Solution", whose goal is to build a safe, efficient and easy-to-use platform to make Bitcoin staking more convenient and promote the expansion of the DeFi ecosystem.
As the largest Bitcoin staking platform in the market, Solv has more than 20,000 BTC staked and more than 200,000 users. More than 70% of SolvBTC (the Bitcoin asset launched by Solv) has been invested in various staking scenarios, making it the protocol with the highest TVL and the highest capital utilization efficiency in the current Bitcoin field.
“Bitcoin Staking: DeFi’s Next Growth Engine”
The Solv protocol advocates unlocking the potential of $1.2 trillion in Bitcoin assets through Bitcoin staking. Will pointed out in his speech that the current adoption rate of Bitcoin staking is much lower than that of Ethereum, while the staking rate of Ethereum has reached 28%. If Bitcoin can achieve a similar staking rate, it will release about $330 billion in value and promote the further development of DeFi.
However, several key challenges prevent widespread adoption of Bitcoin staking:
Insufficient programmability: The lack of transparent and auditable smart contracts limits the widespread application of staking.
Infrastructure fragmentation: Staking activities are scattered across multiple chains, increasing the complexity and risk of user participation.
“Bitcoin staking requires a new generation of infrastructure”
Solv proposes an integrated staking platform that redefines the entire staking process and ecosystem.
In this architecture, the staking process is broken down into four key roles, and they are closely linked together through an integrated platform architecture:
LST Issuers: Create liquidity income tokens (LST) linked to staked Bitcoin. Solv is the largest Bitcoin LST Issuer in the market.
Staking Protocols: Manage the Bitcoin deposited by users and provide safe returns. Examples include Babylon, CoreDao, Botanix, Ethena, GMX, etc.
Staking Validators: such as Ceffu, Cobo, Fireblocks, Solv Guard, etc., are responsible for verifying transactions, ensuring the validity of staking transactions, and updating the verification status in a timely manner.
Yield Distributors: timely and accurate distribution of users’staking rewards, such as Babylon, Solv, Pendle, Gauntlet, Antalpha, etc.
By integrating these four roles, Solv has built a complete Bitcoin staking ecosystem, providing users with a more convenient, secure, and attractive staking experience.
“Four core advantages: security, convenience, openness and standardization”
Will summarized the four major advantages of Solv's integrated platform in his speech:
Security: The security of staking transactions is ensured by integrating the Active Verification Service (AVS). AVS monitors all aspects of staking transactions, such as target address, script hash, staking period, etc., to ensure the validity and security of transactions and avoid errors or malicious behavior.
Process optimization: The staking process has been simplified. Users only need to deposit Bitcoin into the platform to enjoy safe and efficient staking services and obtain benefits.
Openness and Cooperation: This is an open, inclusive and efficient ecosystem. For example, Solv has cooperated with Ceffu to successfully implement staking verification services on the Babylon network.
Industry standardization: As a standardized staking process that regulates the BTC staking process and parameter system, it can enable the BTC staking industry to develop rapidly.
Solv builds diversified LST assets
At the end of his speech, Will also introduced a variety of unique LST assets created by Solv based on an integrated platform. In addition to SolvBTC.BBN (Babylon LST) and SolvBTC.ENA jointly launched by Solv, Babylon and Ethena, Will also revealed that Solv will soon launch SolvBTC.Core and SolvBTC.CASH, which are interest-bearing assets based on the PoS consensus network and institutional-grade fixed-income assets based on option arbitrage.
Currently, Solv has established strategic cooperation with more than 20 industry-leading public chains and DeFi protocols, consolidating its ecological advantages in the Bitcoin field. The integrated staking platform launched this time is the industry's first standardized staking process, marking a major leap in the Bitcoin staking industry. This innovation will greatly promote the rapid development of BTC staking and establish Solv's leading position in the field of Bitcoin staking.
