Bitcoin Staking Token SolvBTC.BBN Sells Out Second Round of 500 BTC Pool in 31 Minutes

IconCryptoNewsTerminal Staff17 Jul, 2024

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Bitcoin Staking Token SolvBTC.BBN Sells Out Second Round of 500 BTC Pool in 31 Minutes

Solv Protocol, a multi-chain liquidity infrastructure, has announced the successful completion of the second round of minting for its Bitcoin liquidity staking token (LST) SolvBTC.BBN. The second round minting event sold out the 500 BTC pool limit within 31 minutes of its launch. Solv Protocol supports a wide range of blockchains, including Ethereum, Arbitrum, BNB Chain, and Merkle Chain. The SolvBTC.BBN token is issued in partnership with Bitcoin staking protocol Babylon and serves as a means for users across different blockchain networks to participate in BTC staking. SolvBTC.BBN offers several benefits to its holders. It provides new liquidity to BTC stakers, enabling them to generate additional yield by participating in the DeFi ecosystem. Additionally, SolvBTC.BBN holders can accrue Solv Points from the Solv Protocol. Solv Protocol plans to open the third round of minting and sale of SolvBTC.BBN on July 19th, allowing more users to participate in BTC staking and benefit from the opportunities offered by the Solv ecosystem.

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