As well as Chainlink\u2019s PoR, Solv Protocol will leverage its own institutional-grade Bitcoin (BTC) finance infrastructure to enable real-time collateral verification for SolvBTC-BTC. <\/p>\n
The collaboration sees Solv now offer real-time proof of reserves for its wrapped BTC asset, allowing for a reliable and tamper-resistant redemption rate for decentralized finance protocols that offer onchain lending with SolvBTC assets. Ethereum has the leading DeFi market ecosystem, led by platforms like Aave.<\/p>\n
\n\u201cWe\u2019re excited to see Solv set a new benchmark for wrapped asset transparency with the launch of the Secure Exchange Rate feed powered by Chainlink Proof of Reserve. By combining real-time collateral verification with exchange rate logic, this solution delivers a redemption rate rooted in cryptographic truth, raising the security standard for wrapped assets across DeFi,\u201d Johann Eid, chief business officer at Chainlink Labs<\/p>\n<\/blockquote>\n
<\/p>\n
Solv adds secure mint feature<\/h2>\n
The Secure Exchange Rate feed uses built-in upper and lower bounds from PoR data, making the feed resistant to price manipulation.<\/p>\n
Also powering the Secure Exchange Rate feed is Chainlink\u2019s cross-chain interoperability protocol to enable multichain access. Lending protocols like Aave can tap into this verified SolvBTC-BTC rate for transparent collateralization and underwriting.<\/p>\n
Solv Protocol is also leveraging Chainlink\u2019s Secure Mint feature to ensure minting of the wrapped BTC asset only occurs when there are sufficient reserves of Bitcoin for 1:1 backing.<\/p>\n
Solv boasts over 25,000 BTC staked and more than $2.5 billion in total value locked, with the Bitcoin staking platform\u2019s features also including lending and yield vaults. The team recently launched the BTC+ vault, a Bitcoin yield vault designed to help holders unlock yield with their idle Bitcoin.<\/p>\n
BTC+ aggregates capital and deploys it across yield-generating strategies such as staking, basis arbitrage, and onchain credit markets.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Solv, a protocol for decentralized finance on Bitcoin, has integrated with Chainlink to power a new Secure Exchange Rate feed for its token SolvBTC on Ethereum. Summary Solv Protocol will…<\/p>\n","protected":false},"author":1,"featured_media":9441,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=9440"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9440\/revisions"}],"predecessor-version":[{"id":9442,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/9440\/revisions\/9442"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/9441"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=9440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=9440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=9440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}