Solv Protocol has partnered with oracle provider Chainlink to roll out the SolvBTC-BTC Secure Exchange Rate feed, a system that merges market pricing with real-time reserve verification. The integration ties SolvBTC’s redemption value directly to verifiable bitcoin (BTC) reserves, offering users greater transparency and security.
Unlike traditional feeds that reflect only market data, the new mechanism confirms collateral through Chainlink’s Proof of Reserve (PoR) and applies reserve-based boundaries to protect against manipulation. This makes SolvBTC more resilient for use in decentralized lending platforms such as Aave.
“This represents a major leap in DeFi security,” said Ryan Chow, Co-Founder and CEO of Solv. “Protocols can now price wrapped assets using redemption rates backed by verifiable collateral.”
The feed is now live on Ethereum and will expand to other chains, including BOB.
Launched in April 2024, SolvBTC enables bitcoin holders to mint a liquid staking token that can be deployed across DeFi ecosystems while still earning yield. By combining PoR with Chainlink’s cross-chain interoperability protocol (CCIP), Solv aims to raise the standard for wrapped asset collateralization across blockchains.
“By fusing collateral verification with exchange logic, this solution sets a new benchmark for security in wrapped assets,” added Johann Eid, Chief Business Officer at Chainlink Labs.
