Solv Protocol has partnered with decentralized oracle network Chainlink to launch the SolvBTC-BTC Secure Exchange Rate feed, combining market pricing with real-time reserve verification. The integration gives SolvBTC holders a transparent, on-chain redemption rate anchored to actual bitcoin (BTC) reserves.
Unlike standard price feeds that rely solely on exchange data, the new mechanism validates Solv’s BTC holdings through Chainlink’s Proof of Reserve (PoR). It also includes built-in reserve-based limits, designed to reduce manipulation risks and enhance safety in decentralized lending platforms such as Aave.
“This launch marks a major evolution in DeFi security,” said Ryan Chow, Co-Founder and CEO of Solv. “Protocols can now price wrapped assets more accurately, using redemption rates backed by verifiable collateral.”
The secure feed is live on Ethereum, with plans to expand to additional blockchains including BOB.
Introduced in April 2024, SolvBTC allows bitcoin holders to stake BTC while maintaining liquidity across DeFi ecosystems such as vaults, exchanges, and lending markets. By combining PoR with Chainlink’s interoperability protocol (CCIP), Solv aims to set a higher standard for wrapped asset security.
“By merging collateral verification with exchange rate logic, this solution establishes a redemption rate rooted in cryptographic truth,” added Johann Eid, Chief Business Officer at Chainlink Labs.
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