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crypto.news 2025-05-16 13:37:32

Bitcoin staking protocol Solv unveils RWA-backed token on Avalanche

Solv has launched a new Bitcoin token on Avalanche that lets holders earn real-world asset-backed yield with help from big names like BlackRock. Solv Protocol, a Bitcoin ( BTC ) staking platform, just dropped a new token called SolvBTC.AVAX, aiming to help Bitcoin holders earn yield on their BTC on the Avalanche network. In a press release shared with crypto.news, Solv said the latest product comes from a team-up of seven players: Solv, Avalanche, Elixir, Euler, Re7 Labs, LFJ, and Balancer, with institutional backing from heavyweights like BlackRock and Hamilton Lane, who have over $4 billion in assets involved. Ryan Chow, founder of Solv Protocol, said the product “isn’t just another yield product,” calling it’s a “framework for aligning Bitcoin with the broader financial world.” Built on Avalanche’s blockchain, SolvBTC.AVAX is a yield-bearing Bitcoin token that uses deUSD, a stablecoin backed by assets like U.S. Treasuries and private credit, with the Treasuries provided by BlackRock and Hamilton Lane through Elixir, a DeFi liquidity protocol. You might also like: Solv founder sees BTCFi outpacing Ethereum DeFi on $2t potential According to the press release, deUSD is then used on the Euler lending protocol to amplify the RWA exposure, while Re7, a risk management firm, oversees the markets on Euler, including those for SolvBTC, deUSD, and sdeUSD. The remaining capital is deployed into liquidity pools on LFJ and Balancer to earn swap fees and AVAX rewards, per the press release. Solv automates minting, borrowing, compounding, and rewards distribution, with Avalanche providing the fast and low-cost blockchain infrastructure. Besides yield, holders of SolvBTC.AVAX can also earn rewards in Avalance ( AVAX ) tokens and other incentive points, aiming to grow adoption through a triple-layer reward system. As crypto.news reported earlier, BlackRock’s tokenized money market fund BUIDL has officially made its entry into the decentralized finance sector. Euler Labs, the firm behind the Euler protocol, confirmed in an X post that sBUIDL, a token backed 1:1 by BlackRock’s BUIDL and issued by Securitize, is now live on the Euler protocol, marking sBUIDL’s first direct integration with DeFi. Read more: Exclusive: SecondSwap expands to Avalanche to boost locked token trading

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