Solana Welcomes Bitcoin Staking with Solv’s Latest Innovation

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Key Takeaways:

  • Solv Protocol launched SolvBTC.JUP, a Bitcoin staking token on Solana, offering up to 12% APR for BTC holders.
  • The token generates yield from fees on Jupiter Exchange, leveraging a delta-neutral strategy to minimize risk.
  • Bitcoin’s role in DeFi is expanding, with L2 solutions and protocols like EigenLayer incorporating BTC staking models.

Solv Protocol has launched a new Bitcoin staking token, SolvBTC.JUP, on the Solana blockchain, offering BTC holders higher yield opportunities as decentralized finance (DeFi) and Bitcoin’s layer-2 (L2) ecosystems expand.

Announced on October 17, SolvBTC.JUP is a liquid staking derivative (LSD) that generates BTC-denominated yield through transaction fees on Jupiter Exchange, a leading Solana decentralized exchange (DEX) with $1.3 billion in total value locked (TVL).

The token aims for an annual percentage return (APR) of around 12%, significantly higher than typical L2 BTC staking rewards, but it involves additional risk through hedging strategies within Jupiter’s liquidity pool.

Simultaneously, Bitcoin-native L2 solutions like Core Chain and Spiderchain are exploring BTC staking models, similar to Ethereum’s proof-of-stake systems, while Ethereum’s EigenLayer restaking protocol has added support for wrapped Bitcoin, further driving competition for BTC liquidity across blockchains.

About The Author

Adam Headshot
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Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

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