Suggestion / Proposal for a new Asset

Research
1

Suggestion:

Add the SolvBTC / SolvBTC.bbn as a new asset, exposure the new world of Bitcoin DeFi on a omni-chain asset. Take a walk off the ETH LSTs / LRTs, explore a new way.
SolvBTC using BSC Chain, Arbitrum Chain, Merlin Chain, Ethereum Chain & the Bitcoin Mainnet.
While you can supply by BSC Chain, Arbitrum Chain, Merlin Chain, Ethereum Chain, Bitcoin Mainnet, BitLayer Chain, Core Chain, Linea Chain, Scroll Chain and zkLink Chain.

SolvFinance is backed by Sfermion and Blockchain.com as lead, also backed by Tier1 VCs like the Spartan Group (Seed) ; and Binance Group (strategic) n/a with a total funding of 11m$ . TVL is about $$1,448,167,975 by 348k users.

SolvFinance has audits by CertiK, Quantstamp, slowmist, salus and secbit.

Liquidity & Markets
dApps in use:

Avalon by BSC, Merlin, Arbitrum, BitLayer & Core
Karak by BSC
Lista DAO by BSC
Pell by BSC & Bitlayer
Tranchess by BSC
Mage by Merlin
Surf by Merlin
DODO by Arbitrum
Colend by Core
Layerbank by Linea, Scroll & zkLink
ZeroLend by Linea
Rho Markets by Scroll

We see, various chains & dApps are in use.
We also would participate on the Babylon Chain ( 96m funding) by the LST / LRT while Babylon do not only act as a restaking chain, also as an AVS provider, like eigen / symbiotic for ETH.
I’m not a technique, I don’t know if its possible to involve BSC or any new chains to the Mitosis System, but I see a width future of Bitcoin DeFi and we can participate on it, also our known EOL Candidate Karak is into it.
We could gather a different yield & “airdrop” Points as now by a omni-chain yield liquidity Asset.

Links:
https://solv.finance/

ps: my english writing isnt well - keep in mind

19 Likes
2

With the current trend of bitcoin steaking and re-staking, I think this will be a great opportunity to expand the horizons of the protocol. great idea!

4 Likes
3

love your proposal :sparkling_heart:

3 Likes
4

great idea :slight_smile: The BTC-fi is the next narative with Babylon !!!

3 Likes
5

This will be a great addition… I have been wanting BTC as an asset for awhile and SOLVBTC fits in perfectly

3 Likes
6

It’s a very good proposal.
Staking BTC is the future !

4 Likes
7

The idea and narrative is good. But too early, no?

2 Likes
8

If Mitosis wanted to maintain the exclusive partnership with Ether Fi, creating an expedition using the newly launched eBTC Liquid Vault could also be an option. Would work the same as Symbiotic Liquid Vault as users receive eBTC as the receipt token representing the amount of tBTC or wBTC they deposit into the vault.

5 Likes
9

I agree BTC is the part of the furure and this opportunity should not be missed

2 Likes
10

I remember earlier this year there was a governance discussion about SolvBTC on a well known Linea based lending protocoll. I’ll shamelessly copy paste some of the risks factors that were mentioned there by their core team:

—Solv Protocol employs a multi-party computation wallet behind their vaults which generates yield behind the BTC deposits of users.

Solv employs a combined strategy to generate its native yield, which provides the first point to generate risk:

All of these strategies carry inherent risk behind the solvBTC tokens.

  • Protocol risk → GMX, Uniswap
  • CEX risk → Binance, OKX, Bybit solvency risk

solvBTC also brings two-fold bridging risk:

  • Deposit is possible with BTC.B, FBTC, m-BTC, wBTC and BTC
    • Multiple bridged tokens are accepted which raises the risk of bridges within the protocol
    • One of the underlying bridges failing will cause the token to depeg from BTC price
  • Meson.fi Free Bridge being used to bridge the tokens to the Linea ecosystem
    • Meson.fi failing can cause a large issue on the Linea solvBTC price—

Personally I might consider waiting a bit to see how BTC defi evolve as Babylon launches and as there have been some fud on WBTC/BitGo restructuring plans

5 Likes
11

Great idea for btc , next narratif …very good

1 Like
12

I remember talk about Solvbtc… Either way BTC asset addition would be ideal at this point… Even ebtc as we are well integrated with Etherfi is a good idea

4 Likes
13

Great idea for BTC addition to Etherfi

3 Likes
14

very useful. thanks for sharing this.

15

Hope Adding USD Stablecoin like ETHENA, USUAL & LEVEL