SOLV protocolBitcoin financial services provider The partnership owners in partnership with Oracle Network Chainlink decentralized the actual time verification of the actual BTC reserves from SOLV that supports its liquid symbol, SOLVBTC, directly in price feeding. This integration enhances transparency and builds more confidence for users.
Contrary to traditional extracts of prices that depend only on market data, the Solvbtc-BTC Seccess Sugge feedback between the actual time of the reserves, which provides a recovery rate in the chain firmly in verified guarantees.
In addition, the mechanism is characterized by the upper and lower borders based on reserve data, making it resistant to manipulation and safer to use in decentralized lending markets such as AAVE.
“We are excited to work with Chainlink to launch safe drainage feeding. This represents a great development in the security of Defi, allowing protocols with more accurate assets in prices by taking advantage of the rates of salvation that can be verified in the guarantees that can be verified, supported by Coindsk.
Solvbtc-BTC Security Race is now alive in The Ethereum Mainnet, with plans to expand in other chains, including BOB.
SOLVBTC, which was launched in April 2024, is a bitcoin liquid symbol that enables BTC holders to participate in decentralized financing (Defi) Ecological systems and gain return while maintaining BTC exposure. Users can deposit BTC and Mint Solvbtc, which is a liquid representation of Staped BTC, which can be used via various Defi protocols, including cellars, decentralized exchanges (Dexs)And lending platforms.
ChainLink Guide on Reserve (Power) It takes advantage of its decentralized Oracle network to verify that the supply of the chain is a distinctive asset, such as stablecoins or wrapped assets, fully supported by the actual reserves that have been placed outside the chain or on other Blockchains.
With billions of dollars in the assets wrapped in Defi, transparent and reliable pricing mechanisms have become increasingly important. By combining Por with price extracts over the interfering operating via the overlapping chain across CCIP, SOLV provides the assets wrapped from work safely as guarantee across multiple groups.
Johann, the chief business official at ChainLink Labs, summarized it well: “By combining the actual time checking with the logic of the exchange rate, this solution provides a rate of recovery, in fact encoding, raising the security standard for the assets coated via Defi.”
publish_date
