SOLV protocol, a financial services provider for Bitcoin The headlines have been associated with the decentralized chain of Oracle Network Chainlink to integrate the real time verification of the real BTC reserves of Solv that support their liquid token, SIFBTC, directly in its price food. This integration improves transparency and generates greater confidence for users.
Unlike traditional price foods that depend solely on market data, the new SOSVBTC-BTC exchange rate combines exchange rate calculations with real-time reservations tests, delivering a chain reimbursement rate firmly anchored in verifiable guarantees.
In addition, the mechanism presents upper and lower limits incorporated based on reserve data, which makes it resistant to manipulation and safer for use in decentralized loan markets such as AAVE.
“We are excited to work with Chainlink to launch a safe exchange rate. This marks an important evolution in defi’s safety, allowing protocols to wrapped assets with greater precision by taking advantage of reimbursement rates rooted in the verifiable collateral, driven by the Chainlink standard,” said Ryan Chow, Cofounder and CEO of Solv, Shared press with Coindesk.
SUSTC-BTC’s safe exchange rate food is now live in Ethereum Mainnet, with plans to expand to other chains, including Bob.
SOSVBTC, launched in April 2024, is a liquid bet token backed by Bitcoin that allows BTC holders to participate in decentralized finances (Defi) ecosystems and win performance while maintaining exposure to BTC. Users can deposit BTC and MINT SOSVBTC, a liquid representation of BTC staked, usable in several Defi protocols, including vaults, decentralized exchanges (DEXS)and loan platforms.
Chainlink reserve test (By) Take advantage of its decentralized Oracle network to verify that the tokenized asset chain supply, such as stablecoins or assembled assets, is completely backed by real reserves that are maintained outside the chain or in other blockchains.
With billions of dollars in wrapped assets that circulate within Defi, transparent and reliable prices mechanisms are increasingly critical. By combining the price with price food in the existing cross -chain interoperability of Chainlink through CCIP, SUSV allows the wrapped assets to be securely function as a guarantee in multiple blockchains.
Johann Eid, Business Director of Chainlink Labs, summarized it well: “By combining collateral verification in real time with the logic of the exchange rate, this solution offers a redemption rate rooted in cryptographic truth, which increases the safety standard for assets wrapped through defi.”
