{"id":96465,"date":"2024-10-14T20:35:15","date_gmt":"2024-10-15T00:35:15","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=96465"},"modified":"2024-10-14T20:37:28","modified_gmt":"2024-10-15T00:37:28","slug":"solv-protocol-secures-11m-strategic-funding-for-btc-staking","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/solv-protocol-secures-11m-strategic-funding-for-btc-staking\/","title":{"rendered":"Solv Protocol Secures $11m Strategic Funding for BTC Staking"},"content":{"rendered":"\n

A strategic investment round<\/a> of $11 million has been completed by Solv Protocol, which aims to expand the pool of investors who can stake Bitcoin.\u00a0
<\/p>\n\n\n\n

\"Solv
Solv Protocol Secures $11m Strategic Funding for BTC Staking<\/figcaption><\/figure>\n\n\n\n

The fundraising round raises the total funding for the Bitcoin staking platform<\/a> to $25 million. It attracted several venture capital firms, including Blockchain Capital and Nomura's Laser Digital. <\/p>\n\n\n\n

Gumi Cryptos Capital, OKX Ventures, and CMT Digital were among the other participants. In its release on October 14, Solv Protocol stated that the additional funding was valued at $200 million.\u00a0<\/p>\n\n\n\n

Bitcoin's Growing DeFi Market<\/h2>\n\n\n\n

Solv Protocol to facilitate the Staking Abstraction Layer's continued acceptance of Bitcoin staking. Bitcoin owners can take advantage of various staking options<\/a> in the expanding decentralized finance market by using SAL to stake their coins on numerous protocols and chains. <\/p>\n\n\n\n

The Bitcoin staking market still trails behind Ethereum by a large margin, even with the surge in Bitcoin staking and the introduction of platforms like Solv Protocol and Babylon. <\/p>\n\n\n\n

Lido and EigenLayer, among other platforms, have gained enormous popularity, contributing to the Ethereum network's dominance in the staking environment. <\/p>\n\n\n\n

Nonetheless, Solv Protocol is hoping to gain greater traction in providing Bitcoin staking chances to owners of the leading digital currency, which has a market capitalization\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> of over $1.3 trillion at the moment.\u00a0Ryan Chow, co-founder and chief executive officer of Solv Protocol:<\/p>\n\n\n\n

\n

Bitcoin's staking rate is currently much lower than Ethereum's 28%. If we can unlock similar levels of participation, Bitcoin staking could unlock $330 billion in value. We believe BTCFi will drive the next wave of innovation in the blockchain space.”<\/p>\n<\/blockquote>\n\n\n\n

At present, SolvBTC has drawn in over 20,000 Bitcoin, with a total locked value over $1.3 billion. Solv Protocol stated in the announcement that this value is staked on ten blockchain networks. <\/p>\n\n\n\n

Base, the Ethereum layer-2 chain that Coinbase launched, was added to the Bitcoin staking service<\/a> offered by Solv Protocol in September. <\/p>\n\n\n\n

The site allowed Base users to participate in Bitcoin DeFi through Coinbase's newly launched wrapped token, cbBTC, that month.<\/p>\n","protected":false},"excerpt":{"rendered":"

A strategic investment round of $11 million has been completed by Solv Protocol, which aims to expand the pool of investors who can stake Bitcoin.\u00a0 The fundraising round raises the total funding for the Bitcoin staking platform to $25 million. It attracted several venture capital firms, including Blockchain Capital and Nomura’s Laser Digital. Gumi Cryptos […]<\/p>\n","protected":false},"author":43,"featured_media":96466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[22361,1659,21803],"class_list":["post-96465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btc-staking","tag-funding","tag-solv-protocol"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/croc_1728951095981.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96465","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=96465"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/96465\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/96466"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=96465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=96465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=96465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}