cryptojournalist
Solv Protocol, a Bitcoin staking platform, is set to launch its native token, SOLV, on Hyperliquid—a blockchain built for trading. This will be one of the first tokens listed on Hyperliquid’s spot exchange, which went live in May. The launch date hasn’t been confirmed yet.
About Hyperliquid
Hyperliquid is a high-speed blockchain designed for trading, with over $2.5 billion locked in since May, according to DefiLlama. It supports leveraged perpetuals and spot trading for tokens like Bitcoin and PENGU, tied to the Pudgy Penguins NFT project.
New tokens are listed through auctions held every 31 hours. Solv paid $130,000 in a Dutch auction to secure its listing, with funds going to Hyperliquid’s liquidity pool.
Leveraged perpetuals let traders bet on future asset prices without expiration dates, with up to 50x leverage available.
Solv’s Staking Solutions
Solv offers Bitcoin staking services across multiple blockchain networks, including layer-2 platforms like Babylon and CoreChain, as well as DeFi protocols such as Jupiter and Ethena. It manages over $3 billion in TVL.
Co-founder Ryan Chow recently announced plans for an “onchain MicroStrategy” to create Bitcoin reserves that generate returns while maintaining value.
