From Investing.com

November 7, 2024 08:30 AM:

Solv Protocol has classified underlying assets for its SolvBTC reserve, ensuring security, yield opportunities, and liquidity. The reserve categorizes assets into Core and Innovative groups, totaling over $2 billion in reserves across more than ten blockchain networks. SolvBTC allows for diverse DeFi strategies with added utility and staking options.

Solv Protocol introduces the SOLV token utility, empowering token holders to determine classifications as the platform transitions to decentralized governance. SolvBTC’s acceptance into Venus Protocol’s core pool on BNB Chain highlights its utility and potential for DeFi strategies like borrowing assets. SolvBTC’s multichain deployment enhances diversification and utility in the DeFi space.

Solv recently launched the Staking Abstraction Layer (SAL) framework, enabling the creation of four SolvBTC Liquid Staked Tokens (LSTs). The full tokenomics and utility of the SOLV token will be introduced in phases. Solv Protocol is a leading Bitcoin staking platform, offering SolvBTC as a gateway to DeFi ecosystems, with support from investors like Binance Labs and Blockchain Capital.

Read more at Investing.com: Solv Protocol Enhances SolvBTC with Asset Classification By Chainwire