The team behind Solv Protocol has announced the launch of the Staking Abstraction Layer (SAL) — a framework that simplifies and standardizes the process of liquid Bitcoin staking across different networks.

Introducing The Staking Abstraction Layer (SAL)

Today, we're thrilled to introduce SAL, a revolutionary framework designed to simplify and standardize Bitcoin staking across chains. With the help of partners like @BNBChain, @CeffuGlobal, and @Chainlink, we're paving the way for… pic.twitter.com/U0mEdJ6KcW
— Solv Protocol (@SolvProtocol) October 8, 2024

Key Project Partners

The main partners involved in the implementation of this solution include BNB Chain, Ceffu, and Chainlink. The product offers users three different strategies to earn additional income from Bitcoin staking:

SolvBTC.BBN — for restaking the asset.
SolvBTC.Core — to secure networks operating on the Proof-of-Stake (PoS) mechanism.
SolvBTC.Ethena — a basic trading strategy utilizing leverage.

The Potential of Bitcoin Staking

With the introduction of SAL, all these solutions are integrated into one system, making the staking process more accessible and efficient for users. Solv Protocol highlighted that with Bitcoin’s current market capitalization around $1.2 trillion, the potential for staking the first cryptocurrency is enormous.

Solv Protocol remains a leader in the Bitcoin staking space. Since its launch in April, the protocol has helped stake over 20,000 BTC, with 13,000 of those coming from BNB Chain. According to DeFi Llama, the total value of assets locked in Solv Protocol stands at $1.44 billion.