Solv Protocol has raised $11 million in a strategic funding round, bringing its total funding to $25 million at a valuation of $200 million. This capital will advance the company’s mission to revolutionize Bitcoin staking through its Staking Abstraction Layer (SAL). The funding round attracted participation from prominent investors, including Laser Digital, Blockchain Capital, and Okx Ventures, as well as existing backers like Binance Labs. Solv Protocol is best known for its flagship product, Solvbtc, which has staked over 20,000 BTC, equating to approximately $1.3 billion in Total Value Locked (TVL). With the launch of SAL, Solv aims to simplify Bitcoin staking across multiple blockchains, addressing transparency and programmability issues, and paving the way for mass adoption. Additionally, the introduction of Liquid Staking Tokens (LSTs) will expand yield opportunities for users. Co-founder and CEO Ryan Chow emphasized the potential for Bitcoin staking to unlock significant value, stating that increasing participation could lead to an estimated $330 billion in value creation.

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