Announced on March 6 via Solv Protocol’s official Medium page, the collaboration aims to strengthen the connection between Bitcoin and Ethereum’s expanding decentralized finance (DeFi) ecosystems.

This integration allows SolvBTC holders to stake their assets, earn rewards, and tap into cross-chain liquidity within the Soneium ecosystem. SolvBTC, a token backed 1:1 by Bitcoin, is issued when users deposit BTC into Solv Protocol, enabling seamless participation in decentralized finance.

Additionally, SolvBTC Liquid Staking Tokens (SolvBTC.LSTs) will enable advanced yield strategies, enhancing scalability and flexibility for Bitcoin users. A key aspect of this initiative is Solv’s Staking Abstraction Layer, which simplifies multi-chain staking, allowing seamless participation across multiple blockchains. The Staking Abstraction Layer (SAL) enable Bitcoin holders to engage with DeFi more seamlessly, expanding Bitcoin’s utility beyond just holding or trading.

Soneium, developed by Sony Block Solutions Labs in partnership with Web3 infrastructure firm Startale, has rapidly gained traction since its launch in August 2024. Designed to support innovative decentralized applications, the network has processed over 47 million transactions and accumulated 4 million active addresses. According to DefiLlama data, its total value locked has reached $45 million across 19 dApps as of March 6. 

Soneium has processed over 47 million transactions and attracted 4 million active addresses. Its ecosystem hosts some of the fastest-growing DeFi applications, including decentralized exchanges like Kyo Finance, Velodrome, and Sonex.

Expanding its reach in Web3 gaming, Soneium has also integrated TiltPlay, a skill-driven gaming platform offering competitive mini-games on Telegram mini-apps and web browsers. Players earn rewards based on skill, reinforcing Soneium’s mission to merge blockchain technology with accessibility and entertainment. Product Director Jeffrey Huang emphasized TiltPlay’s focus on fun and innovation, inviting players worldwide to explore its growing library of games.

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The post Solv Protocol Partners with Soneium to Expand Bitcoin Utility in Ethereum Layer 2 appeared first on DeFi Planet.