Solv Protocol Launches Stake Abstraction Layer, Committed to Integrating Multi-Chain Bitcoin Liquidity

Solv Protocol recently completed a new round of financing of 11 million dollars, bringing the total financing amount to 25 million dollars. Currently, the protocol's staking scheduling center has aggregated liquidity of over 20,000 Bitcoins, including various forms such as SolvBTC.BBN, SolvBTC.ENA, and SolvBTC.CORE.

Solv Protocol recently proposed the concept of Staking Abstraction Layer (SAL), which has sparked extensive discussion in the industry. This concept aims to integrate Bitcoin liquidity across multiple scenarios such as Ethereum EVM, BNBChain, and CeDeFi, providing a unified and transparent application standard for these homogeneous or heterogeneous chain assets.

Although some viewpoints classify Solv Protocol as part of a certain ecosystem, in reality, Solv is more in a parallel cooperation relationship with other platforms. Solv not only provides a large amount of Bitcoin stake assets to other platforms but also serves as a major liquidity provider for multiple ecosystems.

The SAL stake abstraction layer consists of a series of smart contracts designed to simplify user interaction with Bitcoin stake protocols, providing a more convenient staking experience. It defines a complete set of functionalities, including LST asset issuance, distributed node stake verification, yield distribution, and penalty rules, among others. This abstraction layer will cover multiple participants, including various LST protocols, entities with complete asset storage qualifications, and various DeFi protocols.

From a business perspective, the Solv Protocol targets the issue of Bitcoin liquidity being too dispersed, attempting to accelerate the aggregation and application circulation of Bitcoin assets by constructing a liquidity aggregation service layer. This initiative is not limited to on-chain assets but also involves coordinating resources across various fields, handling complex relational networks, with the ultimate goal of "onboarding" related assets.

The vision of SAL by Solv is to provide a unified circulation and application standard for Bitcoin dispersed across different environments (on-chain and off-chain), thereby unlocking the potential and value of BTCFi. Considering that the staking rate of ETH remains around 28% on a well-established infrastructure network like Ethereum, it is clear that there is still a long way to go to significantly increase the staking rate of decentralized Bitcoin and fully realize its potential in asset appreciation.