Binance-backed Bitcoin staking platform Solv Protocol has launched the SolvBTC.BERA vault because it seems to unlock the yield-generation market on Berachain.
Solv Protocol introduced SolvBTC.BERA on Jan. 13, noting that the deposit vault integrates Bitcoin (BTC) holders into Berachain’s decentralized finance ecosystem. The protocol goals to offer contemporary yield-generation alternatives for Bitcoin holders on Berachain, an Ethereum Digital Machine-compatible blockchain that makes use of a proof-of-liquidity consensus mechanism.
Learn extra: Solv Protocol secures $11m strategic funding to drive BTC staking
Customers will have the ability to earn yield on their belongings by depositing Bitcoin or Bitcoin-equivalent belongings comparable to SolvBTC, SolvBTC.BBN, wrapped Bitcoin, or Coinbase wrapped Bitcoin into the SolvBTC.BERA vault. The launch opens up multi-layered yield-generation methods inside the Berachain ecosystem.
To draw early customers, Solv Protocol launched the Boyco pre-deposit marketing campaign, an incentive program that can reward early individuals upon launch.
Customers will see their belongings deployed on seven totally different yield layers. It contains Solv Season 2, Babylon, Berachain rewards, Kodiak, Dolomite and Goldilocks. Kodiak is a liquidity hub on Berachain,whereas Dolomite is a decentralized cash market fund and DEX platform.
Notably, funds deposited in SolvBTC.BERA shall be topic to a 90-day lockup interval ranging from the Berachain mainnet launch.
Berachain’s ecosystem faucets right into a tri-token mannequin, with BERA the native gasoline token and HONEY the native stablecoin.
The stablecoin’s issuance charges go to BGT holders – BGT is Berachain’s main reward and governance token. BERA and HONEY tokens are each tradable. Nevertheless, BGT is a non-liquid and non-transferable token.
You may additionally like: Binance to listing Solv protocol in January
