BTCfi

Yala announced its official launch on Solana, becoming one of the first BTCFi projects to collaborate with the Solana Foundation

ChainCatcher news, Bitcoin's native liquidity layer Yala officially announces that its core asset $YU has officially launched on the Solana mainnet, marking an important milestone in its multi-chain liquidity strategy for Bitcoin. Following the mainnet launch on May 16, Yala is accelerating its ecological layout for the "ultimate liquidity layer for Bitcoin."Through this integration, BTC holders can use BTC as collateral to mint $YU and directly utilize it in Solana's high-performance DeFi ecosystem, participating in low-cost, composable on-chain yield opportunities while maintaining long-term exposure to Bitcoin.This deployment has also received official support from the Solana Foundation, and both parties will collaborate on cross-chain compatibility, technical integration, and developer ecosystem incentives to further promote the native release of Bitcoin liquidity on the Solana network.Officials stated that Solana's scalability and ecological activity provide an ideal scenario for the release of Bitcoin liquidity. Next, Yala will successively launch targeted incentive programs for LPs and traders, deep integration cooperation with Solana protocols, as well as community activities and early contributor reward mechanisms.This launch is an important starting point for Yala's cross-chain strategy, and more ecological incentives and integration plans will be rolled out this summer. Yala will also engage and showcase at this week's Solana Accelerate conference.

The Bitcoin DeFi protocol Brotocol is officially launched, introducing cross-chain trading and payment solutions

ChainCatcher news, according to official sources, the Bitcoin native DeFi protocol Brotocol has officially launched, aiming to promote the development of "BTCFi" (Bitcoin ecosystem DeFi) by building cross-chain infrastructure, trading, and payment tools. It is reported that Brotocol positions Bitcoin as the core asset of DeFi, emphasizing the connection of global liquidity through a native cross-chain solution without relying on Ethereum architecture.The core functional modules include:BroBridge (Cross-chain bridging)Supports users to transfer on-chain stablecoins (such as USDC) from chains like Arbitrum and Solana into the Bitcoin network, and allows assets to be staked through the Babylon protocol, maintaining Bitcoin's attributes as a foundational financial account.BroSwap (On-chain trading, currently in public beta)Allows users to exchange tokens directly within Bitcoin wallets (such as Xverse), supporting swaps between BTC and assets like USDT, SOL, ETH, and MEME coins, without the need to manage multiple chain wallets.BroPay (Payment gateway)Non-Bitcoin users can pay merchants using ETH, SOL, or USDT, with the backend automatically converting to native BTC for settlement, reducing the entry barrier for using the Bitcoin ecosystem.Brotocol plans to collaborate with multi-chain projects to build a unified ecosystem and has already partnered with Joltz to integrate USDT and Taproot assets, connecting the Bitcoin Lightning Network, Liquid sidechain, and DeFi protocols. Its long-term goal is to provide seamless Bitcoin financial infrastructure for developers, users, and merchants.The project team claims that the introduction of on-chain stablecoins for Bitcoin may trigger a "BTCFi Summer," encouraging users to manage BTC and stablecoins through a single Bitcoin wallet and participate in DeFi applications. More technical details can be found in their official Medium article.

Solv co-founders respond to public attacks: The accusations regarding Solv's asset security issues are incorrect and self-contradictory

ChainCatcher news, BTCFi project Solv Protocol co-founder Ryan Chow stated, "After experiencing a whole day of baseless public opinion attacks regarding '1,800 RUG' and 'private agreements' yesterday, today Solv has faced even more absurd accusations. These accusations invariably target the core asset security issues, but their basis is erroneous and contradictory, attempting to mislead the public through confusion. In response, we have decided to address these claims head-on and shatter these false statements with facts."Regarding the accusation from Nubit co-founder Hans about the misappropriation of the underlying BTC of SolvBTC.BBN, Chow pointed out that the mempool transactions cited by the other party are actually routine operations of SolvBTC.CORE. According to the project mechanism, SolvBTC.CORE needs to re-stake BTC to a new script address every half month, with the last staking occurring on December 19, and the extraction and re-staking taking place on January 2, which is also the reason for updating the address to DeFiLlama.Additionally, in response to the doubts about the decline in TVL of SolvBTC.BBN during Babylon Cap3, Chow stated that this is due to the project initiating a normal redemption mechanism, which precisely reflects the product's liquidity and flexibility. At the same time, he also refuted market speculation regarding the "BTC three flowers," which suggests that the same BTC is counted three times in the TVL.Chow emphasized that as a project that has been deeply engaged for four years, Solv is facing such a meticulously planned attack during the sensitive period leading up to the TGE (Token Generation Event), and has provided ample on-chain evidence and technical documentation to support its position, inviting the market and users to make their own judgments.
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