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SolvBTC is Live on Avalanche

Twitter icon  •  Published 1 day ago  •  Hassan Maishera

The Avalanche Foundation announced via X on Wednesday that SolvBTC has launched on the Avalanche blockchain.

The Avalanche Foundation announced via X on Wednesday that SolvBTC has launched on the Avalanche blockchain. Powered by Solv Protocol, SolvBTC introduces a "Bitcoin Reserve for Everyone," designed to address the diverse consensus levels among Bitcoin assets.

SolvBTC represents Bitcoin within Solv's decentralized Bitcoin reserves. It integrates Bitcoin into the DeFi ecosystem, enabling users to earn returns on their BTC holdings while retaining exposure to Bitcoin's value. 

On launch, Solv will introduce vault strategies leveraging blue chip DeFi protocols like Ethena Labs, GMX, and Babylon Labs. By bringing SolvBTC to Avalanche, Solv Protocol aims to diversify DeFi opportunities for BTC across the network.

Avalanche is an open-source platform for launching Decentralized Finance (DeFi) applications and enterprise blockchain deployments in an interoperable, highly scalable ecosystem.AVAX is up 1% today and currently trades at $27.91 per coin.

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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.