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AMA: Solv Protocol Joins Bitcoin Summer
Recorded: July 8, 2025 Duration: 0:51:48Space Recording
Short Summary
In a recent discussion, Solve Protocol and Neutron unveiled their partnership for the Bitcoin Summer campaign, focusing on innovative yield opportunities and the launch of the Solve token. With a pledge of over 15,000 Bitcoin, the collaboration aims to transform Bitcoin into a productive asset, tapping into the growing stablecoin sector and redefining yield generation in the crypto space.
Full Transcription
Thank you. Thank you. Thank you. hey can everybody hear me
yes loud and clear can you hear me good morning good morning yes we can right yes yes awesome
Good morning. Yes, we can, Ryan.
Yes.
Awesome.
Fun fact, GM actually stands for good morning.
Are we waiting for anyone else from your side, Ryan, or is it just going to be you today?
Could you hear me, Ryan?
I asked if there was anyone else joining or first. It's just going to be you.
Yeah, I can hear you. I just realized I just muted. It's all good on my time.
Okay, cool. Cool. All right. Well, then let's get started here.
Very excited, actually, to have this space with you, Ryan, and with Solve Protocol. You guys were kind of the first partner that we announced for this Bitcoin Summer campaign
that we've been working on and working on in collaboration with you. So very excited and
sort of chomping at the bit here to get into the details and explain to a broader audience kind of
what's going on. So I guess without further ado, I'll quickly introduce myself.
I am Pantera or some people that know me IRL call me sometimes.
I work with Neutron along with Spade, who's up here on stage, and Zion and Integrated Dino and Clyde.
And yeah, we're the integrated blockchain purpose built for finance.
We don't need to dive too deep into that, but I'm excited again to partner with some of these Bitcoin issuers.
So Ryan, if you wouldn't mind just giving us a brief introduction of yourself.
Sure. Sure. Hello, everyone. This is Ryan.
I'm the founder of Solve Protocol, and I have been dedicated on Solve for over four and a half years, since late 2022.
At that time it was defined summer.
Now I think it's pretty interesting that we're talking about Bitcoin summer.
So yeah, I'm really kind of excited to share my opinions on how I see Bitcoin summer and also the future of the DeFi and the Bitcoin and also the Chafi system.
Rebill back in 2018. At that time, I was a sophomore student. I started to work for
Chafi Financial Media in Hong Kong. That's how I learned. That's the first time that I learned
the Bitcoin and also the blockchain technology concepts. Then I decided to own the blockchain industry.
And then in 2020, I built Solve Protocol.
Yeah, that's it.
Very nice.
So just to dive a little bit into Bitcoin Summer and our partnership here with Solve,
Bitcoin Summer for us is really an opportunity to work with companies like Solve.
I think in an interview that I did with you recently that will come out on our Twitter later this week,
you said that one of the narratives that you feel like is outdated is that Bitcoin is just the store of value.
And we believe that as well.
We think that, you know, Bitcoin should be put to work
and that if you can go out and earn yield on your Bitcoin
and be able to do things and DeFi with it,
that's a very exciting proposition.
And so Solve, you know, you guys have kind of spearheaded that
along with some of the other people that we've partnered with in this campaign.
And, you know, Bitcoin Summer with in this campaign. And Bitcoin Summer itself
is this campaign leading up to the Neutron version of our real yield on Bitcoin product.
But before that, there'll be these vaults that you can deposit into, solve of which you see it
in the pinned tweet here. 1 million users two billion in tbl
that's that's a very exciting those are some very exciting statistics um we're very happy to to like
be able to you know even share a graphic with you guys so can you tell me a bit about you know the
solve token um and and your journey as far as like uh you know taking those next steps to turn Bitcoin into a constructive asset?
Sure. I think there are, like at the beginning of Solve, we were fascinated with the power of smart That's why we decided to really kind of all in all those of the DeFi stuff and
adopting the smart contract technology for financial service.
And then we decided to build our social focus on on-chain asset management since 2022.
And then in 2023, we realized that Bitcoin would be the main thing for that cycle.
And finally, it really came true, right?
Because a lot of chatbot institutions started to deploy the capital on Bitcoin.
And also the government tried to recognize Bitcoin as the mainstream financial assets. And then the next step would be more and more kind of
the, I mean, the governments
would take Bitcoin as the
main reserve.
And then a lot of institutions
gonna like,
try to like deploy the money
on Bitcoin as well.
And then I mean, for a lot of
like normal families,
I think they would just
deploy money on Bitcoin instead of real estate
in the future. So that's a very obvious trend that we can see. So for the next step is that
when we are holding a real estate, what should we do when we want liquidity? And what can we do on that real estate? So we will try to get some use on this real estate.
Or we can try to get liquidity on this real estate.
So as we can foresee, Bitcoin is something that could replace real estate,
could replace gold in the future.
So that's why I think Bitcoin should be a productive asset
instead of just a star of value, right?
Because more and more people, when they hold Bitcoin,
they do have their demands on the Bitcoin itself.
So I think that's not something just an opinion from our end.
It's something that we can see a huge demand
from all of our users.
We got a lot of users.
Now, I think most of them,
in terms of retail perspective,
they are all those crypto-native users.
But for the institution size,
now they are more and more kind of chatbot institutions
that are becoming our users or becoming our clients.
So as we can see, once they deploy the money on Bitcoin,
the next step is they try to get some yield
or they try to get liquidity on it.
So I mean, that's the real demand
that we can verify very easily. So that's why we demand that uh that that we we can we can verify it very easily so that's why
uh we really we strongly believe that there will be like children's of uh doors of bitcoin in the
future would try to um that their holders would try to get their bitcoin into productive assets
and then they try to get used or they want to do some boring lending or they want to do some structured financial service.
So that's all the things that we can see.
If we could segue that into the asset that you guys issue, which is Solve BTC specifically,
can you talk about that and how that works?
Sure. I think Solve B is to position it as a gateway for everyone to tap into the Bitcoin finance ecosystem.
Because the reason why we built this at the beginning, from scratch,
is that we realized that there are different types of Bitcoin wrappers in the space.
Firstly, we have Mainnet Bitcoin, it's a native Bitcoin.
And then we have Binance Bitcoin, we have Coinbase Bitcoin, we have OKEx Bitcoin Now, and also WBDC and Bitcoin ETF. Actually, we deem Bitcoin ETF as one kind of the Bitcoin wrapper as well,
because your real Bitcoin is pasted by Fidelity
or some like BlackRock.
And then the issue of stocks,
which call like IBIT for you or FBDC for you.
So that's how we see all those of the Bitcoin wrapper
or Bitcoin ETF.
And then like there should be a fragmentation
kind of problems happen or issues happen
on those of the Bitcoin wrappers.
But that's why we built this SOAP BTC as the gateway
that if you are holding any type of the BTC,
I think that they all should be reliable BTC wrapper.
Then you can just deposit your wrapper BTC
or native BTC to mint sold BTC.
And then it seems like you just opened the gate
that you can step into the Bitcoin finance ecosystem.
So there are a lot of things that you can do.
You can get some yields from our LST markets
like Sobdc.bmb, Sobdc.jupyter, Sobdc.barrachain.
There are a lot of yield sources embedded
with different type of LSE products.
Once you are holding SolBTC, then you can really enjoy a very nice user experience on our platform
to get different types of views.
Or you can take the SolBTC on Venus, and later will be RV soon.
And also some other landing protocol
to do borrowing and landing.
Maybe in the future,
you can use Sol BTC as a margin
or as a collateral for perp as well.
So I mean, that's all the things that you can do
since you are holding Sol BTC.
So that's how we position it.
And what is the, Ryan, if you could just expound on that a bit.
In the case of SolveBTC,
how is it different from other on-chain Bitcoin solutions
like WrappedBTC, for instance?
Yes, I think I have mentioned just before that it's a kind of unified liquidity
kind of Bitcoin wrapper that we try to unify the liquidity of Binance BTC, OKX BTC, Coinbase
BTC, and also like Bitcoin ETF. Like we can tokenize Bitcoin ETF into SolveBTC
in the future. So that's why that's how we position it. It's a kind of unified
instead of just like one kind of Bitcoin reference.
Gotcha. So the asset itself, SolveBTC, isn't yield bearing by default, right? You have
to utilize the SolveBTC LSTs, is that right?
Basically, it is. But we have point system. So a lot of people, they just hold SolveBTC
instead of some other Bitcoin wrapper because there are some points,
which means they will get SoftBGC airdrop from Season 2, Season 3, or the further season.
I got you. Okay. And then they can use the SoftBGC LSTs if they want to earn additional yield is that right exactly
so and it like each lst has its own risk uh with its own yields so it depends on
like what what's your like risk appetite and which one you're gonna take
so how come you there the uh the lst just help me understand this a bit better maybe.
How come that you guys have the LSTs in addition to SolveVTC?
How comes when you guys are doing these integrations with different partners,
you don't just use SolveVTC the asset, but instead create the SolveVTC LSTs?
Yes, I mean like DeepBurn uh lst i would take like somebody
to the bmb as an example here um so like like deeper lst has its own uh kind of strategy behind
it like so bdc.bnb is a strategy that um like your bitcoin would be deposited into Venus or LisaDAO
to, as a collateral, to borrow BNB
through a vault kind of operation.
And then like the BNB once being borrowed,
then will be deposited into LisaDAO to get this BNB.
That's how we like get the BNB yields.
And then the Bnb yields would be
denominated by uh bdc uh once we got uh all the use and and and at least bnb's use use source is
the finance launch pool so this is a very uh kind of a typical example of a uh strategy that we run through VOTE to generate use for Bitcoin.
So this is subbtc.bnb.
So if you are, I think there are a lot of users because for these VOTE, there are over 1,500
BTC being staked into these VOTE.
So all the Binance believers or Binance fans, if they are holding BTC and they believe
in launch full yields, then they just deposit their sub-BTC into this vault to get Binance
yields. So different LSTs have its own strategy, but the value proposition here is to provide varieties of users for different types of users.
Because some of the users believe in Binance, but some are not.
Some of them believe in Jupyter, believe in the Solana ecosystem.
So that's why we realized that we should provide varieties of the LST products here.
I got you. Okay, that makes a lot of sense.
So the users that hold the LSTs, do they have to actually deposit them to earn those yields,
or do they just hold the asset and they just earn that through a strategy on the back end?
Yes, when they are holding sub-BDs.BMB,
the NAV of sub-BDbmb to subbedc is like
increasing all the time. So that's why like at the beginning, maybe you take one subbedc to get one
subbedc.bmb. But maybe one year later, you will get 1.1 BTC, like 1.1 SOP BDC back.
And 1.1 SOP BDC means that you can redeem 1.1 native BDC
or 1.1 BDC B or Coinbase BDC from this SOP BDC.
Got it, got it.
Got it, got it. Okay. Spade, I saw you had your hand up. Did you want to jump in?
Okay.
Spade, I saw you had your hand up.
Did you want to jump in?
No, I wanted to take a stab at checking my understanding of Solve, but I think Ryan was
super clear here, actually. So, all good. Okay, cool. Fentero, you back? I heard you drop off there.
Yeah, sorry. I got rubbed by X. Can you guys hear me?
Yes.
Yeah, we can hear you.
Cool. All right. Yeah, apologies for that, but appreciate the in-depth explanation there, Ryan. That's super helpful.
I guess to switch gears slightly here and talk about the Solve BTC ecosystem and your roadmap, what do you see in the horizon here
over the next 12 to 24 months?
Yeah, I think that's a really good question.
I mean, for the Solve BTC itself,
we just try to tap into more chat-fi institutions,
especially Bitcoin ETF,
because we can see there are more and more
kind of institutions that are comfortable
with the chat file custody.
So they just want to put their real Bitcoin into Fidelity
or into like BlackRock.
So that's why they are holding Bitcoin ETF.
And then, but the next step is that they are still
want to like get some alpha or get some yields on the asset itself,
instead of just holding it, making it as idle assets.
So that's why tokenizing Bitcoin ETF is going to happen in the following one year.
But there are a lot of uncertainty on the regulatory issues, potential
regulatory issues.
So that's why it takes a little bit of time.
Like recently, robbing those kind of organizations solutions on stocks is pretty kind of, we
deem it as very funny and very innovative kind of solutions. So that's why we are trying to figure out which solutions that we're going to take.
So that's the first thing that I want to talk about.
And the second thing is that I think there should be varieties of users in the space
that we can really provide, like tokenize them into different LSTs,
and then provide to our users.
So the main thing here is, I think, the stablecoin sector is going to be huge in the future,
in the following one to five years.
So that's why we just try to get more and more use, try to dig into the stablecoins sector
to get some very reliable use,
reliable and sustainable use
from those of stablecoins related use cases or scenarios.
I would take an example here,
like some TBIOS related kind of stablecoins,
then we can get maybe 4% or 5% use.
Then if there are some incentives
that are distributed by those of the public chain ecosystem for stablecoins,
then we can get the use maybe to 10%.
And this is also one type of strategy that we can do, right?
Because we can borrow against Bitcoin to get stablecoin,
and then we deploy this stablecoin into those stablecoin strategies.
Maybe it's a T-bills, maybe it's a RAAs, or maybe it's a trading strategies.
So I mean, that's how we get the, I think, get all the premium from those of stablecoins when they are growing so fast.
Right. So I mean, this is the second thing that we try to work more closely with stablecoins.
And also we are considering about soft USD that That's possibly going to be released
in the following half year.
Soft USD should be U-bearing Bitcoin
that we released to the market.
So, I mean, this is the second thing.
And then the third thing is that,
actually, we are a big fan of the Bitcoin,
mainnets, all those of the the innovative um technology especially
the technology innovation uh obcast tab roots uh and also lightning network so just like uh tether
they also mentioned about they gonna deploy uh potentially over trillion dollars of the
usdt on lightning network so i, this is a very good signal
that when more and more stablecoins come out, there will be a problem which is
like which chain that they're going to take to deploy those of the stablecoins. Maybe it's Chong, maybe it's BNB, maybe it's a base chain. But I think none of it could really be able to accept
maybe over a trillion dollars of the stablecoins
because of the level of the trust.
Although they are kind of trustless, decentralized public chain,
but I think there's still some of the concerns around it.
So I mean, Bitcoin madness, especially like Lightning Network related things,
would be or could be something that's pretty interesting.
So that's why we are also like preparing and also building something on it now.
Could be a very interesting Bitcoin stake infrastructure
in the future,
that to provide organic Bitcoin use to our users
through this infrastructure.
That also could be to get some,
I mean, all the alpha from stablecoins.
Because once the stablecoin is being deployed
on Lightning Network,
then there should be some of the stablecoins-related strategies
or stablecoins-related use that could be generated
through this infrastructure.
So yeah, I mean, those are the three things
that are in our mind that we try to focus on.
Yeah, holy shit.
I didn't know we were getting a front row seat to the Solve Alpha show here,
but that all sounds pretty exciting, man.
I have a few things I wanted to ask to follow up on that.
You mentioned some of the organic yield potential with things like OPCAT
and some of the mainnet upgrades.
I'm just curious from your perspective,
how likely is it that the Bitcoin network will be able to push a soft fork like that?
Yeah, I think that's a really good question, actually.
Yeah, I think that's a really good question, actually.
I mean, OPCAD is something that really makes the whole Bitcoin mainnet,
whole Bitcoin infrastructure to get the ability of smart contracts,
similar with smart contracts capabilities.
But the point here is that it really caused a lot of concerns on it. So
until now, I think like tab roots is okay. Maybe tab roots is something that's enough
for us to build something on it. But if all OPCAD could be approved, then that would be
really good. But that would really also bring a lot of potential risk.
So I'm also trying to learn or getting more feedback from those of the Bitcoin Core community
and also all those of the miners.
So yeah, I don't have an exact kind of answer for this part.
I think that's a good question.
Yeah, I don't think anybody does have a clear answer on that.
It gets so political, especially with Bitcoin in a state that it's grown to, right?
I mean, it used to be political amongst computer nerds.
Now it's actually like a global political issue.
Makes softworks a little bit more heavyweighted than they used to be.
I guess to get back to Solve
and what you guys are doing,
for someone that's brand new to DeFi,
how can they get into using SolvePTC?
What's the easiest way for them to do that?
Yes, for this user's path,
I would still recommend Binance.
So if you are holding Binance accounts, then you just take Binance wallet and then just maybe one click to withdraw your BTC from Binance.com and deposit it into SoftBinance.
Then you will get soft BTC.
And then you really step into Bitcoin finance now.
Then you decided to like,
what kind of LSD you want to do, you want to take,
and what kind of the assets that you want to borrow.
I mean, then that would be very,
I mean, that would be interesting work that you can join.
So yeah, so it's maybe just one click or two clicks through
if you have a Binance account, so Binance Wallet.
And we're happy to open up the floor as well to the community
if anybody has any questions they want to leave in the thread or if you want to come up on stage, feel free to ask
at this time.
Yeah, we do have a community member, Jeffrey, who I'll add up as a speaker.
Hey Jeffrey, welcome to the stage.
What would you like to ask about? Looks like he's having some connection issues.
That's fine. In the meantime, Brian, I wanted to ask another follow-up question on some of the alpha leak you gave us there.
You mentioned some of the TradFi custodians like BlackRock and Fidelity.
Do these companies have an appetite so much so for yield
that they're actively reaching out to companies like Solve
to try and find ways to work with you?
Sorry, beg your pardon.
What type of the companies that you mentioned?
Some of these more TradFi custodians
that otherwise would just custodian the regular BTC for an ETF.
You had mentioned that they're looking for yield, right?
And I'm just curious, what is their appetite
to dive into the dark
side, so to speak, or the
world that we play in?
Yes. I mean,
I think chatbot institutions
are way different from
the crypto institutions.
We are working very closely
with Binance, OKEx,
and some other
crypto institutions.
It seems like they are, for those of the crypto institutions, they are quite familiar with
all those of the crypto custody solutions providers.
No matter if it's seafood, it's Biggo, Anchorage, BitGo.
So there are a lot of kind of like custody solutions providers
that are quite open for those of the users,
especially the on-chain Bitcoin staking opportunities.
So no matter if it's the youth, maybe like could be 1%,
or could be 5%, or could be 10%.
When it comes to staking, kind of the operation,
that integrated by both of the costly solutions.
Then, I mean, for those of the crypto-native institutions,
they were likely to take it or accept it.
I mean, that's the first thing the the the crypto native institutions
appetite but when it comes to chat buy i mean the the largest uh the biggest problem is still about
uh which custody uh that they cannot they're gonna take maybe it's the fidelity maybe it's black raw
they're comfortable comfortable with that or maybe it's coin-based custody. But when it comes to some other crypto native
like custody, then I think it depends. So I mean, this is still the biggest problem or challenges
that we are facing. That's the first thing. The second thing is that the risk appetite here,
of course, they don't want to bear a lot of risk.
They just want to bear the smallest risk.
But this is something that I think
they pretty kind of believe in regulations
instead of technology.
So that's why when it comes to Bitcoin staking stuff,
they will still feel concerned, get a lot of concerns on it. But when it comes to Bitcoin staking stuff, they will still feel concerned, get a lot of concerns on it.
But when it comes to regulated,
because we got a share rate compliance in UAE
for our U-Baring Bitcoin products.
So when we got that, I think more Shopify institutions
just try to feel more positive on it.
Instead of just pure on-chain Bitcoin staking stuff.
So, I mean, the risk appetite is pretty different.
It's quite different from the crypto institutions.
But for the use, I mean, it could be like 1%, 3% or 5%. It really depends.
Were we able to get Jeff back up for his question?
No, but I did notice he dropped it in the comments. I can read it now. Solve Protocol has pledged over 15,000 Bitcoin.
How does this unlock new possibilities for Bitcoin yield generation and what makes Solve's
approach different from traditional DeFi models?
Yes, I think this is a really great question that the yield source is something that is
pretty limited in the crypto space now.
Because the whole crypto space is still very small compared to ChatFi, right?
No matter the trading volume here, or the on-chain DeFi, TVL,
all the activities on- chain are still really limited.
It's pretty small.
So that's why to provide sustainable use source is something that's pretty challenging
no matter for Soft or even for Athena.
Like Athena, they are adopting funding rate strategy,
but it seems they reached the ceiling as well.
So for Bitcoin, I think it's something pretty similar,
that how to really generate reliable use,
that has a huge capacity.
Then this is something that we should really tap
into other ways to get more use,
and we should really promote into other ways to get more use. And we should really kind of promote the whole crypto space
to grow bigger, then we can get more use source.
So currently we deal over, I think like eight to 10
use source LSD products on SOP protocol.
Later we will try to release more,
but I think it's something that is not going to be huge,
not going to be tens of billions of dollars
in a short-term perspective from a youth source perspective.
So that's the first thing.
And the second one is that for the crypto space
from crypto native users or crypto native institutions,
there's huge demand that we can see on getting their Bitcoin productive.
So for this part, it's already potentially over $10 billion that we can see.
No matter if it comes from like Binance users,
comes from OKEx users or Coinbase users.
I mean, there are a lot of kind of users
that their demands are not being met yet.
I mean, that's the current situation.
For the chatbot, I mean, there's a huge potential uh and that that would
be the next step yeah excellent we have anything else from the community yes um i just invited to the speaker to ask a question.
Tega, you're welcome to ask your question now.
Okay, well maybe when he gets his mic sorted, I'll read another question from the comments
from the trade guru.
What stands out in all that has been said is how the persistent issue of Bitcoin holders
seeking yield without compromising custody is addressed.
I'm curious to see how this might influence other chains' approaches to unlocking Bitcoin
liquidity.
Could this become a blueprint for cross-chain bitcoin integrations
um yeah i think that's also a really great question uh i mean because like bitcoins are most uh like most of the bitcoins are on main nets so the the first thing is how to really bring those of the Bitcoin,
mainland Bitcoin, no matter if it's a ChetFi or no matter if it's a DeFi.
Most of the time, it takes some of the custody solution,
no matter if it's Fidelity, BlackRock, or it could be like Binance, Coinbase.
So I mean, this is something that inevitable
to take some of the custody solution
to provide all the use cases on Bitcoin itself.
So, but of course there are,
I think there's a huge potential
on the Bitcoin mainnet as infrastructure itself.
So that's why self-custody is something that's possible, maybe because of the OPCATs being
approved or maybe not.
Maybe just through those of the tab-roots technology, we can build something pretty
interesting and very natively on Bitcoin.
So I mean, this is something I'm quite kind of foolish and strongly believe in this part as well.
But simultaneously, I realized that there are more and more demands from likeance users, from Coinbase users, or maybe from BlackRock users,
that they want to just get some financial service on their Bitcoin,
no matter if through ChatBuy or DeFi.
So this is the first chain that we are seeing.
And then the second thing is that cross-chain interoperability is also very important for Bitcoin.
So I mean like Chainlink, Layer 0, there are a lot of cross-chain solutions that are working on Bitcoin.
They are very bullish on Bitcoin itself actually,
and also bullish on the potential of DeFi meeting Bitcoin.
So like in the past five years,
since the inception of the DeFi,
I mean like the whole TVL of DeFi
is just like $100 billion.
It's still pretty small.
And Bitcoin is a $2 trillion kind of asset
that we can really activate and bring it to DeFi
and through different kind of infrastructure,
no matter if it's a different L1 or different L2.
As we can see, Ethereum, BNB, and also Solana are the three very powerful get a lot of Bitcoin assets on them.
Ryan, as a follow-up to that, I'm curious your perspective on the future.
In 10 years, do you think most people will self-custody their Bitcoin?
Or do you think that most of these people, or most Bitcoin rather, would be in these
custodian product services?
Yeah, I think that's a very good and very sharp question.
I mean, there should be two groups of the users. I think self-custody is something still really important for a lot of people.
So I mean, this is something that should be the future.
But I mean, it should be based on different user experience.
So currently, I think a lot of people taking a cold wallet, but sometimes maybe they will face some fraud
because there are some fake cold wallet kind of goods
that they purchased wrongly.
So I mean, this should be a problem.
And also the user experience here is really bad.
I mean, in the future,
I think there should be some multi-sig solutions
like Genozy Safe, and there's way better user experience products
gonna be designed for self-custody products
for Bitcoin holders, for sure.
I mean, this is the future of self-custody.
And then the second thing is that custody.
Yeah, I mean, that's for sure.
There are still a lot of people still believe in government.
And then the government backed so-called regulated custody.
And then they will still put their Bitcoin under custody.
So I don't see any one of these things
could really take over the whole market.
So I think that there will be something
that exists all the time.
It's just like DeFi and ChatFi.
So, because in 2020, when we started to build DeFi,
I think we were dreaming that maybe DeFi could really take over the whole financial space,
right? The financial system. But it seems now I think we are more and more, we just become
It seems now we are more and more, we just become realistic and realize that DeFi and
Chaffy, any one of it could not really take over the other one.
So it seems like DeFi would still exist because of like RV, Uniswap, and also on-chain, like
the other protocols that really kind of provide financial service
in a very low-cost way.
And then for distribution, it's really low-cost.
No matter where you are, who you are,
you just get a wallet,
and you download a wallet,
and then you can just enjoy
the decentralized financial surveys
in maybe just several minutes.
I think this is something that the banks
that could not shift in the future, no matter what.
So that's why I think DeFi would exist.
But I also still don't see, in the following 10 years at least that DeFi gonna really change the whole ChatFi ecosystem.
So yeah, that's my opinion.
Yeah, I think that's a great analogy like the DeFi, TradFi space and how that might sort of extrapolate onto Bitcoin finance.
We've got Jordan up on the stage.
Jordan, did you have a question?
Yeah, yeah.
So just, one, appreciate having me up here.
And two, excited for the Solve protocol and Neutron partnership.
I've heard of Solve for a while now, for over the past, I want to say the past year or so.
But yeah, I heard a lot about Solve, didn't know much about it other than it's related to Bitcoin.
I guess my question would be, how does Solve secure our custody?
It's Bitcoin.
Because I see on the transparency page, there's something about like a chain link proof of reserve.
So maybe you can talk some about that.
And then my second question, you mentioned like layer zero for interoperability.
Is there any chance that solve maybe using IBC by chance?
Yeah, I appreciate your question.
I mean, first thing in terms of the proof of reserve, I think transparency is something
that really matter as a kind of on-chain or decentralized protocol.
So we are taking a kind of decentralized architecture to accept like different type of the Bitcoin being custody through our kind of whole framework.
through our whole framework.
So firstly, but also we accept,
we try to integrate it with all those of the
regulators kind of centralized custody as well,
as the custody partners with us, just like Athena.
So we work with like Seafood,
we work with like Biggo and also Kobo, and some other kind of policy partners.
And then we take Chainlink to provide proof of reserve to make sure that all the reserve,
kind of the Bitcoin, should be one-to-one to our sub-BTCs.
It's all something that we there were decentralized kind of feed,
kind of mechanism.
So that's how we work with Chainlink.
Yeah, so that's the first thing to answer the question.
And then the second thing is that,
yeah, we are pretty open to different type of the,
the cross chain kind of the solution.
So currently I think Chainlink would be the main
cross-chain solution that we are adopting.
But of course, potentially,
different type of cross-chain solutions
are all kind of under our consideration.
All right, fantastic.
Do we have, Fluffy, any other questions from anybody that wants to come up on stage or
any more comments on the thread?
There are no more comments on the stage and no one else has requested.
So yeah, thank you for answering everyone's questions.
That was great.
I think you covered pretty much all of our questions.
Maybe just as a parting note here,
you can tell people where they need to go to find out more about Solve.
And then we're happy to drop our info as well.
Did we lose Ryan?
I'm sorry.
Thank you, Pintura.
It seems I lost my connection.
Oh, no worries.
I was just asking uh you know anybody
that comes out of this call and wants to learn more about Solve uh where's the best place for
them to do that um I think like Twitter of course it's uh it's a really good uh kind of platform for
users to get the latest news uh and secondly I think we are working on our docs to try to get the users,
or get everyone to learn from all those docs more accurately.
And secondly, I think YouTube is something that video form is a really good way for the users to understand the whole mechanism.
So we try to provide more materials through video on YouTube.
But currently, I think it's insufficient on YouTube.
So I mean, Docs and Twitter would be the main platforms that the users can understand our whole mechanism.
And of course, we welcome everyone to join our Discord and our community to just to get all the
answers, all the feedbacks from the community ambassadors and also sometimes from the team as well.
and also sometimes from the team as well.
Yes, appreciate that.
And also if you go over to Neutron's medium,
we've got all the details of Solve Protocol and their partnership with us.
I do just want to drop, maybe we should have started the call off with this information,
but deposits into the Solve BTC vault on Neutron will earn 4x Solve points, which will qualify you for a future Solve airdrop.
You will also get NTRN rewards, lending yield, and market making yield.
In order to receive updates, you can join the Telegram channel.
It is t.me forward slash Bitcoin underscore summer to get all the updates and find out when that goes live.
You can also go and sign up for the email notifications.
That URL is a little bit too long for me to say on a spaces, but we've been posting it and we'll continue to post it regularly for you to go and sign up.
And unless there are any other questions, I think we can conclude the space here. I want to give a big for you to go and sign up. And unless there are any other questions,
I think we can conclude the space here. I want to give a big shout out to Ryan
and Solve Protocol. Again, we're very excited for this partnership. I mean,
these guys have some serious TVL, 2 billion with a B, over a million unique depositors. That's
pretty exciting stuff. And we look forward to growing our partnership
with Solve as we push forward into the future and as we both push forward Bitcoin DeFi. So
thank you everybody for joining. And that's it. Go on and have a great day.
Appreciate your time. Thank you everyone.
