Solv Protocol Raises $11M to Boost Bitcoin Staking With SAL Tech
Solv Protocol raised $11 million to develop its Staking Abstraction Layer, simplifying Bitcoin staking and boosting yield opportunities. Solv Protocol addresses Bitcoin’s programmability limitations, unlocking new possibilities for staking, liquidity, and decentralized finance integration. The recent strategic funding round of $11 million by Solv Protocol has raised its entire valuation to $200 million and brought [...]
- Solv Protocol raised $11 million to develop its Staking Abstraction Layer, simplifying Bitcoin staking and boosting yield opportunities.
- Solv Protocol addresses Bitcoin’s programmability limitations, unlocking new possibilities for staking, liquidity, and decentralized finance integration.
The recent strategic funding round of $11 million by Solv Protocol has raised its entire valuation to $200 million and brought its general funding to $25 million.
The Staking Abstraction Layer (SAL), a major advancement meant to simplify Bitcoin staking and improve yield generation for customers, will be much advanced with the help of the raised fund.
By creating new options in staking, liquidity management, and yield chances inside decentralized finance (DeFi), this creative layer solves one of Bitcoin’s most recurring problems—its limited programmability.
2/ The State of Bitcoin
Despite its $1.2 trillion market cap, Bitcoin faces key challenges:
No Native Yield
Solv Protocol is here to change that.
— Solv Protocol (@SolvProtocol) October 14, 2024
Institutional Confidence Grows as Solv Protocol Secures Major Funding for DeFi Expansion
Given Bitcoin’s inherent limitations in DeFi setups, SAL’s aim is to make Bitcoin staking more accessible—a major obstacle. This development coincides with a time when the protocol has seen a rising user base, significant liquidity, and increasing acceptance.
Well-known investors, including Laser Digital, OKX Ventures, and CMT Digital, participated in the investment round. These well-known names join past supporters such as Binance Labs and Spartan Group, therefore indicating great institutional faith in the concept of Solv Protocol.
The financial backing will help the protocol scale its activities, improve its technology, and expand its infrastructure to assist Bitcoin’s increasing consumption in DeFi.
Meanwhile, as we previously reported, by holding about $1.4 billion in Total Value Locked (TVL), Solv Protocol is among the most important participants in the Bitcoin Finance (BTCFi) space, with 20,000 BTC already invested.
Over 400,000 users of the protocol have drawn in, therefore extending its community and acceptance. Remarkably, 80% of the SolvBTC assets are dedicated to yield-generating strategies, therefore highlighting the extensive application and value of SolvBTC inside its system.
Though with a dominant market value of about $1.2 trillion, Bitcoin presents some important problems, especially in relation to DeFi. Unlike other digital assets, Bitcoin suffers from inadequate integration into basic DeFi primitives, has scattered liquidity across many DeFi protocols, and lacks a native yield.
With its SAL technology, Solv Protocol seeks to address these problems and provide a route for Bitcoin to provide yields and more smoothly interact with decentralized finance.
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