LST Lineup
Last updated
Last updated
SolvBTC.BBN is the LST that represents Bitcoin staked within the Babylon ecosystem, which leverages Bitcoin's economic security to secure Proof-of-Stake (PoS) networks.
Use Case: Earn rewards by staking BTC to secure Babylon’s chain.
Type: 1:1 Pegged to BTC
Yield: Users earn native token rewards from PoS chains secured by Babylon through SolvBTC.BBN, while maintaining liquid access to their Bitcoin.
Utility: SolvBTC.BBN can be used in DeFi across the Babylon ecosystem, as well as in liquidity pools and cross-chain protocols.
Highlights:
Highest Babylon Points of All Liquid Staking Tokens:
In Cap 1, we delivered with 250 BTC staked to Babylon, earning 25% of Babylon Points.
In Cap 2, we scaled to new heights, achieving a total of 7,089 BTC staked, earning 30% of total Babylon Points.
Early Adoption and Integration:
We have established partnerships with leading DeFi protocols, ensuring that SolvBTC.BBN will have robust liquidity and usability across multiple platforms even before Babylon's mainnet、
SolvBTC.CORE is the liquid staking token (LST) that represents Bitcoin staked within the CoreDAO ecosystem, enabling Bitcoin holders to secure the network while maintaining liquidity on the Core network.
Use Case: Stake BTC to help secure the CoreDAO network and earn real yields in CORE tokens.
Type: 1:1 pegged to BTC.
Yield: Users earn native token rewards from the CoreDAO ecosystem through SolvBTC.CORE, while retaining liquid access to their Bitcoin.
Utility: SolvBTC.CORE can be leveraged in various DeFi applications, liquidity pools, and cross-chain protocols.
Highlights:
Rapid Capitalization Achievement:
We successfully filled the first capitalization round of 500 BTC in under 2 hours, demonstrating robust demand and confidence in the SolvBTC.CORE offering.
DeFi Integrations:
Through strategic integrations with leading DeFi protocols, SolvBTC.CORE is positioned to provide extensive liquidity and usability, enhancing its appeal for Bitcoin holders looking to stake their assets.
SolvBTC.ENA is a liquid staking token (LST) for Bitcoin that utilizes a basis trade strategy within the Ethena ecosystem. This innovative approach enables Bitcoin holders to earn yields from Ethena while maintaining exposure to their Bitcoin assets.
Use Case: Earn rewards by staking BTC as collateral to mint and stake Ethena's USDe, thereby enhancing the security of the Ethena network.
Type: Yield-bearing liquid staking token.
Yield: Users benefit from Ethena’s staking yields and gain access to 10x SATs on borrowed stablecoins, all while keeping their Bitcoin liquid.
How It Works
The strategy involves leveraging Bitcoin as collateral to borrow stablecoins, which are then utilized to mint and stake Ethena's USDe. This process captures yields from two primary sources:
Ethereum Staking & Funding: Users benefit from yields generated through staking on the Ethereum network.
Basis Spread: Earn returns from delta hedging derivative positions.
To incentivize optimal performance and align interests, a 20% performance fee will be applied to profits generated by the SolvBTC.ENA strategy.
Additional Information
SATs Distribution: The SATs earned will be claimed by Solv’s minting address on behalf of users and proportionally distributed to SolvBTC.ENA holders after the Ethena SATs Campaign concludes. The final amount received will depend on the vesting schedule set by Ethena.
10x SATs: The 10x SATs are based on the USDe minted. Due to the lower loan-to-value (LTV) ratio when borrowing USD using Bitcoin as collateral, the SATs received may be lower.
KYC Requirement: Users must complete KYC to stake their SolvBTC on Solv. However, they can purchase SolvBTC.ENA on decentralized exchanges (DEXes) without this requirement.
SolvBTC.JUP is a liquid staking token (LST) that acts as a gateway to Solana’s yield ecosystem for Bitcoin holders. This pilot product marks a significant step in integrating Solana's dynamic DeFi landscape into our Staking Abstraction Layer (SAL), unlocking opportunities for Bitcoin holders to earn BTC-denominated returns through a CeDeFi strategy.
Use Case: Earn BTC-denominated yields by participating in Solana’s thriving DeFi ecosystem.
Type: Yield-bearing liquid staking token.
Yield: Expected yields of approximately 20% in BTC, based on participation in the Jupiter Liquidity Provider (JLP) Pool.
Why Solana? Why Jupiter?
Solana: Known for its low fees and high-speed transactions, Solana is an ideal platform for yield generation.
Jupiter Exchange: As one of Solana’s leading decentralized perpetual exchanges, Jupiter has processed over $100 billion in trading volume. Currently, the JLP Pool offers an attractive APY of 28%, with Solv’s hedging strategies projecting yields around 20% in BTC. This strategy provides stable, risk-adjusted returns for Bitcoin holders.
How SolvBTC.JUP Generates Yield
SolvBTC.JUP generates yield by actively participating in the JLP Pool, where liquidity providers earn fees from trading activities. By employing hedging strategies on centralized exchanges, Solv ensures that returns stem primarily from trading fees, reducing exposure to market volatility. This approach offers Bitcoin holders a unique opportunity to earn stable yields in BTC, diverging from more speculative yield-bearing strategies.
Proven Strategy Expansion
Solv has successfully implemented a similar CeDeFi strategy on GMX (Arbitrum) since August 2023, achieving consistent returns of 9.5%. With SolvBTC.JUP, we are now extending this model to the Solana ecosystem, broadening yield opportunities for Bitcoin holders.
