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Solana (SOL) $ 147.38
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Dogecoin (DOGE) $ 0.178196
TRON (TRX) $ 0.270410
Lido Staked Ether (STETH) $ 2,562.20
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Hyperliquid (HYPE) $ 42.03
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Toncoin (TON) $ 3.01
Shiba Inu (SHIB) $ 0.000012
USDS (USDS) $ 0.999762
WETH (WETH) $ 2,562.08
Wrapped eETH (WEETH) $ 2,739.60
Hedera (HBAR) $ 0.157953
Litecoin (LTC) $ 85.83
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
Ethena USDe (USDE) $ 1.00
Polkadot (DOT) $ 3.82
Monero (XMR) $ 308.79
WhiteBIT Coin (WBT) $ 38.32
Bitget Token (BGB) $ 4.55
Coinbase Wrapped BTC (CBBTC) $ 105,487.00
Pepe (PEPE) $ 0.000011
Uniswap (UNI) $ 7.56
Aave (AAVE) $ 289.48
Pi Network (PI) $ 0.581695
Dai (DAI) $ 0.999698
Ethena Staked USDe (SUSDE) $ 1.18
Bittensor (TAO) $ 371.05
OKB (OKB) $ 52.16
Internet Computer (ICP) $ 5.45
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
Aptos (APT) $ 4.50
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NEAR Protocol (NEAR) $ 2.23
Ethereum Classic (ETC) $ 16.78
Jito Staked SOL (JITOSOL) $ 178.11
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Tokenize Xchange (TKX) $ 30.26
sUSDS (SUSDS) $ 1.06
USD1 (USD1) $ 0.999694
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Official Trump (TRUMP) $ 10.11
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Fasttoken (FTN) $ 4.45
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First Digital USD (FDUSD) $ 0.998724
USDtb (USDTB) $ 1.00
SPX6900 (SPX) $ 1.53
KuCoin (KCS) $ 11.28
Binance Staked SOL (BNSOL) $ 155.57
Fartcoin (FARTCOIN) $ 1.26
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Celestia (TIA) $ 1.81
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Story (IP) $ 3.61
Polygon Bridged USDT (Polygon) (USDT) $ 1.00
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Binance Bridged USDC (BNB Smart Chain) (USDC) $ 0.999591
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PayPal USD (PYUSD) $ 0.999832
Stacks (STX) $ 0.630944
Mantle Staked Ether (METH) $ 2,736.45
Sei (SEI) $ 0.178089
StakeWise Staked ETH (OSETH) $ 2,673.47
Solv Protocol BTC (SOLVBTC) $ 105,604.00
Kaia (KAIA) $ 0.149571
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Vaulta (A) $ 0.533044
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Mantle Bridged USDT (Mantle) (USDT) $ 1.00
Telcoin (TEL) $ 0.004035
Reserve Rights (RSR) $ 0.006390

Solv Protocol launches Bitcoin staking for cbBTC holders on Base

By admin On Sep 13, 2024

Binance Labs-backed Solv Protocol is bringing Bitcoin staking to Base via the newly launched Coinbase wrapped Bitcoin token, cbBTC.

On Sept. 12, Coinbase revealed that its cbBTC token was now live on Ethereum (ETH) and the layer 2 chain Base. Solv Protocol shared news of its launch of Bitcoin (BTC) staking on Base via in a press release shared with cypto.news.

The platform says the unveiling of the cbBTC token, which is backed 1:1 by BTC holdings on Coinbase, offers another opportunity for users on Base to leverage their bitcoin in the decentralized finance market.

You might also like: eToro to cease all crypto trading except BTC, BCH, ETH

cbBTC holders to mint SolvBTC to participate in DeFi

According to Solv Protocol, cbBTC holders can tap into DeFi opportunities by minting SolvBTC. Notably, users can broaden their participation in the market by converting SolvBTC into SolvBTC.BBN, a liquid staking token offering access to further Bitcoin staking yields.

Integrating cbBTC as a reserve asset is a significant step towards unifying Bitcoin liquidity and making the Bitcoin DeFi experience more accessible to users.

Ryan Chow, co-founder of Solv Protocol.

Coinbase’s launch of cbBTC allows its BTC holders to convert assets to the new wrapped token, much like BTC holders have done with wrapped Bitcoin (WBTC).

For cbBTC, the process will involve the transfer of Bitcoin from user accounts to either Base or Ethereum addresses. The BTC converts to cbBTC and can be used across DeFi protocols such as MakerDAO (MKR), Aave (AAVE) and Compound (COMP).

Solv Protocol adds to this growing market with its liquid staking token, SolvBTC.

Other platforms offering liquid staking or restaking opportunities to the Bitcoin community include Lombard Finance, Swell, and AcreBTC.

Read more: Solv Protocol attracts over 12k BTC investment, integrates Babylon partnership

Source

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