Solv Protocol Launches Liquid Staking Token SolvBTC.BBN on Babylon
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September 16, 2024
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PANews reports that Solv Protocol has launched a new Bitcoin staking method for cbBTC holders on Base.
[Details of the news:]
- According to Coindesk, Solv Protocol enables cbBTC token holders to mint SolvBTC, which can then be further converted into a new liquid staking token called SolvBTC.BBN.
- cbBTC is Coinbase's newly launched wrapped Bitcoin that has been available on Ethereum and Coinbase's Ethereum Layer 2 network, Base, since last week.
- The Solv team states that this new method allows for greater flexibility and liquidity for cbBTC holders who wish to stake their Bitcoin.
[Translation Notes:]
- The original text uses a lot of technical terms specific to the cryptocurrency space.
- The translation strives to provide a clear and concise summary of the news, using simple language.
- I have avoided using any HTML tags or emojis as requested.
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