Solv Protocol, a provider of financial services to Bitcoin Holders have collaborated with decentralized Oracle Network Chainlink to integrate the verification of real time of SOLV’s actual BTC reserves supporting its Liquid token, Solvbtc, directly into its price feed. This integration improves transparency and builds greater confidence in users.
Unlike traditional price feeds that are solely dependent on market data, the new SOLVBTC-BTC Secure Exchange-Feed-Feed exchange rate calculations combine real-time reserves, which delivers an on-chain redemption rate that is firmly anchored in verifiable collateral.
In addition, the mechanism has built -in upper and lower limits based on spare data, making it resistant to manipulation and safer for use in decentralized lending markets such as Aave.
“We are happy to work with chainlink to launch a secure currency course feed. This marks a great development in deficitation, which allows protocols to more precisely price-wrapped assets by utilizing the redemption degree anchored in verifiable security, driven by the chainlink standard,” said Ryan Chow, co-founding Press release that was shared with Coindesk.
SolvBtc-BTC Secure Exchange Cate Feed is now live at Ethereum Mainnet, with plans to expand to other chains, including Bob.
SOLVBTC, launched in April 2024, is a Bitcoin-supported Floated Stack Token that allows BTC holders to participate in decentralized financing (Defi) Ecosystems and earns yield while the BTC exposure maintains. Users can deposit BTC and Mint Solvbtc, a fluid representation of stack BTC that can be used across different defi protocols, including vaults, decentralized exchanges (Dexs)and lending platforms.
Chainlinks proof of reserve (Por) Take advantage of its decentralized Oracle Network to verify that the on-chain supply with tokenized assets, such as stableecoins or wrapped assets, is fully backed by actual reserves held off-chain or on other blockchains.
With billions of dollars in wrapped assets circulating within defi, transparent, reliable price mechanisms are increasingly critical. By combining por with price feeds at the top of chainlink’s existing transverse chain inter operability via CCIP, SOLV allows wrapped assets to function safely as security across multiple blockchains.
Johann Eid, Chief Business Officer at Chainlink Labs, summarized it well: “By combining real -time collateral, this solution delivers a redemption degree anchored in cryptographic truth, raising the security standard for wrapped assets across defi.”
