TechFlow reported on October 18 that, according to Cointelegraph, Solv Protocol has launched the Bitcoin staking token SolvBTC.JUP on the Solana network, aiming to attract Bitcoin holders by tapping into the growing yield opportunities within the Bitcoin ecosystem.
SolvBTC.JUP is a liquid staking derivative (LSD) designed to earn Bitcoin-denominated yields from trading fees on Jupiter Exchange, one of the most popular decentralized exchanges on Solana.
Solv stated that they deploy a delta-neutral strategy by hedging traders' net open positions on centralized exchanges to reduce exposure to price volatility of tokens in Jupiter's liquidity pools.
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