TechFlow news, according to Coindesk, Bitcoin staking platform Solv Protocol has launched a new Bitcoin staking method for cbBTC holders on Base. (cbBTC is Coinbase's newly launched wrapped Bitcoin, which went live last week on both Ethereum and Coinbase’s Ethereum Layer 2 network, Base.)
According to the Solv team, "Solv Protocol allows cbBTC tokens to be minted into SolvBTC, which can then be further converted into a new liquid staking token, SolvBTC.BBN.
Through Solv Protocol's integration, Bitcoin holders with cbBTC can mint SolvBTC and then convert it into SolvBTC.BBN."
Solv explained in a blog post that SolvBTC.BBN is a "liquid staking token representing staked Bitcoin within Babylon," similar to the EigenLayer restaking platform on Ethereum, but built for Bitcoin.
