Crypto Daily – Solv Protocol changed the classification of the assets contained in its SolvBTC reserve, in order to enhance security as well as yield-generation opportunities.
According to a Nov. 7 announcement, SolvBTC assets will be now divided into two categories, namely core reserve and innovative reserve. The core reserve consists of native (BTC) and Bitcoin BEP2 (BTCB), whereas the innovative reserve is made up of Wrapped Bitcoin (), cbBTC, FBTC, Bitcoin Bridged (BTC.b) and tBTC.
The current classification parameters are decided by the Solv team. Still, the announcement promises that in the future they will be determined by SOLV token holders through a fully decentralized governance system. Solv CEO and co-founder Ryan Chow said:
“SolvBTC’s multichain deployment and our fresh approach to categorizing BTC reserves is providing diversification and setting a higher standard for Bitcoin utility in DeFi. […] With our robust network connections…
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