Solv Protocol has announced a groundbreaking partnership with Soneium, an Ethereum layer 2 blockchain, to introduce Bitcoin staking.
Solv Protocol is partnering with Soneium to bring Bitcoin staking to the Ethereum layer 2 blockchain. The partnership, announced on March 6, will allow users to stake Bitcoin on Soneium, a blockchain supported by Japan’s Sony Group.
The collaboration aims to merge the security of Bitcoin with the vast DeFi landscape of Ethereum, opening up new avenues for users to earn rewards and access liquidity across different blockchains.
The partnership will see Solv Protocol's SolvBTC and Liquid Staking Tokens (SolvBTC.LSTs) become available on Soneium, enabling advanced yield strategies and providing greater flexibility and scalability for Bitcoin users.
Solv Protocol is known for its Staking Abstraction Layer, a system designed to simplify the staking process across various networks. The abstraction layer lowers the technical barriers that usually deter users from participating in DeFi, making it easier for them to engage with decentralized applications.
By bridging Bitcoin to Soneium, Solv Protocol is extending the cryptocurrency's utility, allowing it to play a more active role in the fast-growing world of decentralized finance.
Soneium, launched in January 2025 by Sony Block Solutions Labs and the web3 company Startale, has quickly become a recognized name in the DeFi sector. The network has a TVL of $63.16 million spread across 19 decentralized applications, with 47 million transactions completed and 4 million active addresses.
Soneium's setup is designed to meet the needs of today's DeFi, providing fast and scalable solutions that align with Solv Protocol's goals. With the rise of Bitcoin staking, more investors are seeking methods to earn passive income from their assets.
Solv Protocol and Soneium are handling this need directly, providing a solution that is user-friendly and innovative. Although details about future projects have not yet been disclosed, both teams hint at more exciting developments to come.
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