Solv Protocol Expands into Berachain with New Bitcoin Staking Vault

Binance-backed Solv Protocol has ventured into new territory with the introduction of the SolvBTC.BERA vault on January 13. This strategic move integrates Bitcoin holders into the decentralized finance sector of Berachain, opening up innovative yield-generation avenues.

Unlocking Yield-Generation for Bitcoin on Berachain

SolvBTC.BERA offers Bitcoin investors the opportunity to earn yields by depositing various Bitcoin-equivalent assets, including SolvBTC, SolvBTC.BBN, wrapped Bitcoin, and Coinbase wrapped Bitcoin into the vault. The integration into Berachain, known for its proof-of-liquidity consensus and compatibility with Ethereum Virtual Machine, enhances potential investment strategies.

Layered Yield-Generation Opportunities

Deposits made into SolvBTC.BERA will be utilized across seven different yield layers within Berachain’s ecosystem, namely Solv Season 2, Babylon, Berachain rewards, Kodiak, Dolomite, and Goldilocks. Noteworthy platforms include Kodiak, which serves as a liquidity hub, and Dolomite—a decentralized money market fund and DEX platform.

Early User Incentives and Asset Lockup

To encourage early participation, Solv Protocol has initiated the Boyco pre-deposit campaign, set to reward users at the launch. However, it’s important to note that funds deposited are subject to a 90-day lockup period coinciding with the Berachain mainnet launch.

Understanding Berachain’s Unique Tri-Token Model

Berachain operates with a tri-token model featuring BERA as its native gas token; HONEY, a native stablecoin whose issuance fees benefit BGT holders; and BGT, Berachain’s primary reward and governance token, which is non-liquid and non-transferable.