Solv Protocol Surpasses $1B in TVL, Becoming the 32nd Largest DeFi Protocol

New York City, May 22 – Solv Protocol, a unified yield and liquidity layer for major digital assets, has surpassed $1 billion in Total Value Locked (TVL), cementing its position as the 32nd largest decentralized finance (DeFi) protocol according to DeFiLlama rankings.

Solv Protocol, a unified yield and liquidity layer for major digital assets, has surpassed $1 billion in Total Value Locked (TVL), according to DeFiLlama rankings. This achievement places Solv as the 32nd largest decentralized finance (DeFi) protocol.

Solv Protocol is known for its flagship product, SolvBTC, which is a liquid yield token that tokenizes the best CeFi and DeFi yields in the industry. SolvBTC provides Bitcoin (BTC) holders with a stable source of high-quality returns. Notably, Solv is the largest protocol in the BTCFi space by TVL.

“Reaching this significant milestone is a testament to the strong demand for Solv’s suite of products and the growing adoption of our flagship SolvBTC offering,” said Ryan, the founder of Solv Protocol, in a statement shared with Blockworks. “As the largest protocol in the BTCFi space by TVL, we are excited to continue driving innovation and unlocking new opportunities for Bitcoin holders and DeFi participants alike.”

The protocol's multi-chain integration enables SolvBTC to boost liquidity in emerging BTCFi ecosystems across Layer 1 and Layer 2 networks. Solv has already launched SolvBTC on Arbitrum, BNB Chain and Merlin Chain.

Moreover, the protocol is building an ecosystem where users can bridge SolvBTC to farm points in new chains' points programs, such as a 1.5x multiplier in zkLinkNova's Aggregation Parade. Solv has also introduced the Solv Point System, where users can exchange points for SOLV token airdrops to incentivize engagement.

Solv Protocol is backed by strong investors, including Binance Labs, Blockchain Capital, Laser Digital and other renowned firms. The protocol has also undergone extensive security audits by leading firms such as Quanstamp, Certik, SlowMist, Salus and Secbit.

Interested parties can find more information about Solv Protocol and its products on the official website at solv.finance. For media inquiries, contact Name: Ethean Yu at Email: [email protected]