Solv Protocol partners with Soneium to expand BTC staking

The SOLV protocol of the Bitcoin stringer platform has concluded a strategic partnership with SONEIUM, the Ethereum LAYER 2 blockchain supported by the Japan group, widening BTC with the network.

Announced on March 6 on the official median page of the Solv protocol, this partnership aims to fill the bitcoin (BTC) and Ethereum (Ethn) Expansion of decentralized financial ecosystems.

Thanks to this integration, SOLVBTC holders can pay their assets, gain rewards and access transversal liquidity within the SONEIUM ecosystem. SOLVBTC is a token which is in 1: 1 supported by Bitcoin, won when users deposit bitcoin in the SOLV protocol.

In addition, the SOLVBTC, SOLVBTC.LSTS liquid upgrade tokens will make possible advancement strategies possible, improving the scalability and flexibility of Bitcoin users. A key element of the initiative is the Solv implementation abstraction layer, which facilitates the game on several blockchains.

SAL allows Bitcoin owners to participate more easily in DEFI more easily, by extending the capacities of the cryptocurrency beyond simple hold or trading.

SONEIUM, developed by Sony Block Solutions Labs in partnership with the web infrastructure company Startale, quickly gained ground in DEFI. Spear In August 2024, the high performance infrastructure of the network was designed to support creative and innovative decentralized applications. According to Defillama dataIts total locked value reached $ 45 million over 19 Dapps on March 6.

The network has already treaty More than 47 million transactions and raised 4 million active addresses. Some of the applications DEFI with the fastest growth, including decentralized exchanges such as Kyo Finance, Vélodrome and Sonex, are in the Soneium ecosystem.

While more and more investors are looking for ways to win a passive income from Bitcoin, this partnership arrives at a time when Bitcoin staking becomes more popular. Although the details on future collaborations are not clear, the two teams have suggested that more developments are about to extend the use of Bitcoin in Defi.