3 months ago
Bitcoin (BTC) staking level Solv has raised $10 cardinal for its Bitcoin Reserve Offering (BRO) arsenic it aims to physique a $100 cardinal BTC reserve.
BRO merges aspects of accepted convertible bonds with crypto-native features to thrust organization adoption of BTC finance, according to an emailed announcement shared with CoinDesk connected Thursday.
Solv is attempting to connection an "on-chain MicroStrategy" model, referencing the Michael Saylor-founded bundle institution that present owns astir 500,000 BTC.
BRO whitethorn entreaty to institutions who privation to put successful BTC arsenic a store of worth successful a akin mode to Strategy (as MicroStrategy is present called) but without physically purchasing and holding it themselves. Furthermore, they whitethorn beryllium seeking a much progressive yield-generating signifier of BTC investment.
Solv volition deploy the BTC raised to assorted yield-generating vehicles, specified arsenic liquid staking tokens, and invested crossed decentralized concern (DeFi), real-world assets (RWAs) and organization concern products.
"What this means is that Solv's protocol-owned Bitcoin Reserve volition beryllium progressive and productive, alternatively than having the BTC sitting idle," Solv said successful Thursday's announcement.
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