what's Solv Protocol?
Solv Protocol is an on-chain Bitcoin reserve layer designed to unify Bitcoin liquidity across multi-chain ecosystems. It transforms idle Bitcoin into productive assets through tokenized representations like SolvBTC, a 1:1 BTC-backed token, while preserving its role as reserve collateral. The protocol employs decentralized custody via FROST, Chainlink Proof of Reserves for transparency, and a Staking Abstraction Layer for seamless yield strategies. Key offerings include Bitcoin Reserve Offerings (BRO), structured products enabling institutional-grade BTC exposure with yield generation; Solv Vaults for deploying BTC into on-chain opportunities like lending and liquidity provision; and BTC+ for optimized yield allocations. This infrastructure bridges Bitcoin to DeFi and RWA, supporting efficient capital flows without compromising security or verifiability.
contract
binance-smart-chain
Exploited for $2.7M from Bitcoin yield vault due to a smart contract minting bug.
Suffered a limited exploit in one BRO vault affecting fewer than 10 users with 38.0474 SolvBTC impacted, with all other vaults and user funds remaining secure and the protocol covering losses for affected users.