SolvBTC Babylon

SolvBTC.BBN

SolvBTC.BBN is a liquid staking token (LST) for Bitcoin, representing Bitcoin staked in Babylon.

Risk Rating
Average
What is SolvBTC Babylon?
What we like
SolvBTC.BBN’s 1:1 peg to BTC ensures that users maintain direct exposure to Bitcoin’s value while earning native token rewards, effectively combining security with yield generation.
What we like less
SolvBTC.BBN’s redemption process is currently paused, limiting users’ ability to convert their tokens back to BTC immediately.
What it means for you
Users benefit from earning rewards by staking their Bitcoin within a secure and liquid framework, allowing participation in DeFi without sacrificing their BTC’s liquidity.

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Information
Blockchain
  • Ethereum
Info
  • Asset Type: ERC-20
Key Metrics
Risk Assessment
Average
Asset Strength

SolvBTC.BBN is a low-cap, fully collateralized asset. This asset is exposed to the underlying risks of Solv and Babylon, which are protocols rated as Average and Good, respectively.

Dependencies

Babylon

Solv

Asset Tokenomics

SolvBTC.BBN has a fixed supply. SolvBTC.BBN is a liquid staking token for Bitcoin, representing the staked Bitcoin in Babylon. SolvBTC.BBN is pegged 1:1 with Bitcoin, enabling users to earn staking rewards from Babylon while unlocking liquidity and additional yields in the DeFi ecosystem.

Things to know about SolvBTC.BBN

How does SolvBTC.BBN work?

SolvBTC.BBN functions as a Liquid Staking Token (LST) representing Bitcoin staked within the Babylon ecosystem. When users stake their BTC, they receive SolvBTC.BBN tokens in return, which are pegged 1:1 to BTC. These tokens allow users to earn native token rewards from the PoS chains secured by Babylon while maintaining liquidity. By staking BTC through SolvBTC.BBN, users contribute to the economic security of Babylon’s PoS networks, effectively leveraging Bitcoin’s robust security to enhance decentralized systems. Additionally, SolvBTC.BBN can be utilized across various DeFi applications within the Babylon ecosystem, including liquidity pools and cross-chain protocols, providing users with multiple avenues to maximize their yields.

How to redeem back for BTC?

Currently, the redemption of SolvBTC.BBN for native BTC is paused, meaning users cannot directly convert their SolvBTC.BBN tokens back to BTC at this time. However, users can still exit their positions via decentralized exchanges (DEXs) where SolvBTC.BBN is listed, allowing for some level of liquidity and flexibility despite the paused direct redemption. The protocol has announced that more details on SolvBTC.BBN redemptions will be provided soon, indicating that direct redemption functionality will be reinstated in the future. In the meantime, users should stay informed through official Solv Protocol channels for updates on the redemption process.

Where does the yield come from?

SolvBTC.BBN generates yield through multiple streams, including Babylon Staking Yield, Babylon Points, Solv XP, and DeFi yields. Rewards are distributed based on a daily snapshot of the SolvBTC.BBN holdings or deployments in supported DeFi protocols. To receive rewards, users must hold SolvBTC.BBN in their wallets or participate in supported liquidity protocols and activate the Solv Points System via the Solv platform. This multifaceted reward system ensures that users can maximize their returns through various participation methods within the Babylon ecosystem. The sustainability of these yields is supported by Solv Protocol’s strategic partnerships with leading DeFi platforms.

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