Solv Protocol Raises $25M, Eyes $330B Staking Market

Author - personCMO Intern

10/15/2024

Solv Protocol Raises $25M for Bitcoin Staking Revolution

[October 14, 2024] – Solv Protocol, a pioneering platform driving the future of Bitcoin Finance (BTCFi), today announced it has raised a total of $25 million in funding, marking a significant milestone in its mission to democratize Bitcoin staking and unlock the asset's full potential within the decentralized finance (DeFi) ecosystem. This funding fuels the development and expansion of Solv Protocol's groundbreaking Staking Abstraction Layer (SAL), a technology poised to revolutionize how users interact with Bitcoin staking. The latest $11 million strategic round, contributing to the $25 million total, strengthens Solv Protocol's position at a $200 million valuation.

Key Investors Fueling Solv’s Vision:

The strategic round saw participation from a diverse group of leading firms, including Laser Digital (a subsidiary of Nomura), Blockchain Capital, gumi Cryptos Capital, OKX Ventures, and CMT Digital. Notable angel investors from prominent blockchain projects such as Berachain, Movement Labs, Ethena, EigenLayer, Mezo, Core, GMX, and Curve also participated. Existing backers, including Binance Labs and Spartan Group, continue to play a crucial role in Solv Protocol's growth.

The company has also received support from a wide array of visionary investors including IOSG Ventures, Mirana Ventures, Sfermion, Hashed, Axia8, Comma3 Ventures, Waterdrip Capital, Folius Ventures, ABCDE, Apollo Crypto, Krypital, Antalpha, 4R Capital, Geek Cartel, Alliance, UOB Ventures, Bing Ventures, SNZ Holding, Matrix Partners, The LAO, Hash CIB, Signum Capital, ByteTrade Lab, Taisu Ventures, Emirates Consortium LLC, Singchain, 2Square, and 071 Labs, among others.

Building on a Strong Foundation:

Solv Protocol has already achieved substantial traction, boasting impressive metrics that underscore the growing demand for accessible and efficient Bitcoin staking solutions:

$1.3 billion in Total Value Locked (TVL): Generated through its flagship product, SolvBTC, a "Bitcoin Reserve for Everyone," with over 20,000 BTC staked since launch.

400,000 Users: A rapidly expanding community highlights the increasing interest in Bitcoin staking and Solv Protocol's user-friendly platform.

80% of SolvBTC Allocated to Yield-Generating Strategies: This showcases the widespread utilization of SolvBTC within the DeFi ecosystem and its ability to generate attractive returns for users. SolvBTC is currently deployed across 10 major blockchain networks.

About Solv Protocol:

Solv Protocol is a leading Bitcoin staking platform that empowers Bitcoin holders to participate in DeFi through its innovative Staking Abstraction Layer (SAL). SolvBTC, the platform's flagship product, enables users to stake their BTC across multiple protocols and chains, unlocking a world of staking opportunities and maximizing yield potential.