{"id":93150,"date":"2024-09-12T17:23:52","date_gmt":"2024-09-12T21:23:52","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=93150"},"modified":"2024-09-12T17:25:36","modified_gmt":"2024-09-12T21:25:36","slug":"solv-protocol-launches-bitcoin-staking-for-cbbtc-holders","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/solv-protocol-launches-bitcoin-staking-for-cbbtc-holders\/","title":{"rendered":"Solv Protocol Launches Bitcoin Staking for cbBTC Holders"},"content":{"rendered":"\n

Binance Labs-backed Solv Protocol has introduced Coinbase-wrapped Bitcoin token (cbBTC), which is bringing Bitcoin staking<\/a> to Base.\u00a0<\/p>\n\n\n\n

\"Solv
Solv Protocol Launches Bitcoin Staking for cbBTC Holders<\/figcaption><\/figure>\n\n\n\n

Coinbase announced on September 12 that the layer 2 chain Base and Ethereum were now accepting transactions for its cbBTC currency<\/a>. A press statement issued by Solv Protocol\u00a0\u00a0announced the start of Bitcoin staking on Base. <\/p>\n\n\n\n

According to the site, the cbBTC token, which is backed 1:1 by bitcoin holdings on Coinbase, is a new way for Base users to leverage their bitcoin in the decentralized finance market<\/a>.\u00a0<\/p>\n\n\n\n

cbBTC holders to mint SolvBTC to participate in DeFi<\/h2>\n\n\n\n

Solv Protocol states that by minting SolvBTC, owners of cbBTC can take advantage of DeFi chances. Interestingly, by converting SolvBTC into SolvBTC, customers can increase the scope of their market participation.<\/p>\n\n\n\n

BBN is a liquid staking token\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> that gives users access to additional Bitcoin staking rewards.\u00a0Ryan Chow, co-founder of Solv Protocol:<\/p>\n\n\n\n

\n

Integrating cbBTC as a reserve asset is a significant step towards unifying Bitcoin liquidity and making the Bitcoin DeFi experience more accessible to users.\u201d<\/p>\n<\/blockquote>\n\n\n\n

With the introduction of cbBTC by Coinbase, Bitcoin holders can now convert their assets to the new wrapped currency, just as they could with wrapped Bitcoin<\/a>. <\/p>\n\n\n\n

Transferring Bitcoin from user accounts to Base or Ethereum addresses is the procedure for cbBTC. The BTC is convertible to cbBTC and is compatible with all DeFi protocols, including Compound, MakerDAO, and Aave. <\/p>\n\n\n\n

With its liquid staking token, SolvBTC, Solv Protocol expands on this expanding market. Lombard Finance, Swell, and AcreBTC are some other services that provide the Bitcoin community with opportunities for liquid staking or restaking.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Binance Labs-backed Solv Protocol has introduced Coinbase-wrapped Bitcoin token (cbBTC), which is bringing Bitcoin staking to Base.\u00a0 Coinbase announced on September 12 that the layer 2 chain Base and Ethereum were now accepting transactions for its cbBTC currency. A press statement issued by Solv Protocol\u00a0\u00a0announced the start of Bitcoin staking on Base. According to the […]<\/p>\n","protected":false},"author":43,"featured_media":93152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[18598,21804,21803],"class_list":["post-93150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-staking","tag-cbbtc","tag-solv-protocol"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/09\/croc_1726171782252.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/93150","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=93150"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/93150\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/93152"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=93150"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=93150"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=93150"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}