TL;DR
- Solv Protocol teams up with Soneium: The partnership leverages Sony-supported Ethereum L2 to enable Bitcoin staking on a scalable DeFi network.
- Seamless Bitcoin staking: Users deposit Bitcoin to receive SolvBTC, a 1:1 pegged token, which can be staked for passive income using liquid staking tokens.
- Lowering barriers to DeFi: By deploying a Staking Abstraction Layer, the collaboration simplifies multi-network staking, merging Bitcoin’s reliability with Ethereum’s innovative ecosystem.
Solv Protocol has announced a groundbreaking partnership with Soneium, an Ethereum layer 2 blockchain, to introduce Bitcoin staking. This collaboration unveiled on March 6, allows users to stake Bitcoin on Soneium, a blockchain supported by Japan’s Sony Group.
The collaboration seeks to combine the reliability of Bitcoin with the vast DeFi landscape of Ethereum, providing users with fresh avenues to earn rewards and access liquidity across different blockchains.
https://twitter.com/SolvProtocol/status/1897482290382692602
SolvBTC and Liquid Staking Tokens
At the heart of this development is Solv Protocol’s innovative approach to Bitcoin staking. Users can deposit Bitcoin and receive SolvBTC, a token pegged 1:1 to Bitcoin’s value. SolvBTC holders can now stake their assets on Soneium through this partnership, allowing them to earn passive income while keeping the main value of Bitcoin intact.
A standout feature of this collaboration is the introduction of SolvBTC Liquid Staking Tokens (SolvBTC.LSTs), which enable advanced yield strategies and provide greater flexibility and scalability for Bitcoin users.
Simplifying the Staking Process
The partnership leverages Solv Protocol’s Staking Abstraction Layer, a system designed to simplify the staking process across various networks. This abstraction layer lowers the technical barriers that often keep users from participating in DeFi, making it easier to engage with decentralized applications.
By bridging Bitcoin to Soneium, Solv Protocol is effectively extending the cryptocurrency’s utility, allowing it to play a more active role in the fast-growing world of decentralized finance.
Soneium’s Rapid Growth
Soneium, launched in January 2025 by Sony Block Solutions Labs and the web3 company Startale, has rapidly gained recognition in the DeFi sector. The network has a TVL of $63.16 million spread across 19 decentralized applications, with 47 million transactions completed and 4 million active addresses.
Soneium’s setup is designed to meet the needs of today’s DeFi, providing fast and scalable solutions that align with Solv Protocol’s goals. With the rise of Bitcoin staking, more investors are seeking methods to earn passive income from their assets.
Solv Protocol and Soneium are tackling this need directly, providing a solution that is easy to use and innovative. Although details about future projects have not yet been revealed, both teams have suggested that more exciting developments are on the way.
