Token

Solv Protocol

Solana

Bitcoin

Solv Protocol has introduced ‘SolvBTC.JUP’, a new Liquid Staking Token that lets Bitcoin investors earn returns through Solana’s decentralized finance ecosystem.
Even though it is only in its pilot phase, SolvBTC.JUP offers Bitcoin holders a way to generate returns, paid in Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), by participating in Solana’s (<a href="https://crypto.news/price/solana/" target="_blank" rel="noopener noreferrer nofollow">SOL</a>) Jupiter Exchange, according to a press release shared with crypto.news.
The process works by depositing Bitcoin into Solv Protocol. In exchange, users receive SolvBTC.JUP, which <a href="https://crypto.news/solv-protocol-secures-11m-strategic-funding-to-drive-btc-staking/" target="_blank" rel="noopener noreferrer nofollow">represents</a> their staked Bitcoin.&nbsp;
This token accrues yield over time based on Solv’s involvement in the Jupiter Liquidity Provider Pool. The <a href="https://crypto.news/jupiter-exchange-launches-giant-unified-market-initiative/" target="_blank" rel="noopener noreferrer nofollow">Jupiter Exchange</a>, a platform for decentralized perpetual trading, allows liquidity providers to earn fees based on trading activity.&nbsp;
Solv’s strategy minimizes risks by hedging exposure to market movements while maintaining the Bitcoin stake.
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<h2 class="wp-block-heading" id="what-this-means">What this means&nbsp;</h2>
For Bitcoin holders unfamiliar with <a href="https://crypto.news/tag/DeFi" target="_blank" rel="noopener noreferrer nofollow">DeFi</a>, <a href="https://crypto.news/best-crypto-staking-platforms/" target="_blank" rel="noopener noreferrer nofollow">staking means temporarily locking up tokens</a> to support a network or participate in a trading pool. In return, the staked tokens earn rewards, often in the form of the same token.&nbsp;
SolvBTC.JUP allows Bitcoin owners to participate in this system on the Solana network without giving up their Bitcoin exposure. With an expected return of 12%, per the press release, SolvBTC.JUP builds on Solv’s previous success in offering Bitcoin staking on other platforms.
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Solv Protocol launches staking token to bring Bitcoin yields to Solana

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