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Solv Leverages the Chainlink Platform To Enhance the Liquidity, Utility, and Transparency of Staked Bitcoin

Twitter icon  •  Published 1 week ago  •  Hassan Maishera

On Tuesday, Chainlink announced via X that Solv Protocol is adopting Chainlink’s industry-standard CCIP, Price Feeds, and Proof of Reserve across Arbitrum, BNB Chain, and Ethereum.

On Tuesday, Chainlink announced via X that Solv Protocol is adopting Chainlink’s industry-standard CCIP, Price Feeds, and Proof of Reserve across Arbitrum, BNB Chain, and Ethereum.

The services will significantly enhance the liquidity, utility, and transparency of SolvBTC, SolvBTC.BBN, and SolvBTC.ENA. CCIP will boost the liquidity of SolvBTC, SolvBTC.BBN, and SolvBTC.ENA and ensure the assets are easily transferable across chains.

Chainlink Price Feeds will enable secure markets around SolvBTC, SolvBTC.BBN, and SolvBTC.ENA. Finally, integrating Proof of Reserve’s Secure Mint capability directly into Solv’s minting function will help protect against malicious minting attacks by embedding cryptographic guarantees that new tokens minted are fully backed by reserves.

Chainlink Network (LINK) aims to provide tamper-proof data inputs and outputs for smart contracts on any blockchain. LINK is down 5.5% over the past 24 hours, trading at $13.95.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.