Introducing the SolvBTC.BBN Fund: Upgrading Your BTC Staking Experience

4 min readSep 12, 2024

We are thrilled to announce the launch of our new SolvBTC.BBN fund. It is not a simple extension of the previous SolvBTC fund but an elevation of our users’ overall BTC staking experience. Building on the successful structure of the original SolvBTC fund, SolvBTC.BBN retains the same robust framework, with the key enhancement being a shift in the underlying asset from SolvBTC to SolvBTC.BBN. This strategic upgrade empowers the fund with greater potential, offering investors the same proven stability while unlocking new opportunities for returns.

This fund is also the first one we put up after imposing a governance voting process for the new launch of all Turbo & Stable funds — a great start for the governance process.

As our first SolvBTC fund reaches maturity, users can now withdraw their SolvBTC and seamlessly join the new one for higher points and fixed-interest rewards!

Before getting into the parameters of the SolvBTC.BBN fund, the first question you might have is: what is SolvBTC.BBN and how it is different from the original SolvBTC token. In short, SolvBTC.BBN is a liquid staking token (LST) that users receive by staking Bitcoin through Solv Protocol in the Babylon ecosystem. SolvBTC.BBN is short for SolvBTC.Babylon. SolvBTC.BBN enables holders to earn staking yield while maintaining the flexibility to use their staked assets in DeFi. For further information, please refer to the external links at the end of this article.

As the LST that achieved the highest staking amount during Babylon Cap 1, SolvBTC.BBN now receives the highest staking points in the Babylon ecosystem — the same applies to all SolvBTC.BBN holders.

On SolvBTC.BBN Fund

Four tokens as usual:

turPSBBBN: Maximized points earnings
staYSBBBN: Fixed APR and no points
sbbbnQUEEN: 1:1 with SolvBTC.BBN
staYSBBBN-SolvBTC.BBN LP token: points, trading fee, CHESS incentives, and fixed yield

This three-month fund ends on Dec 7th, 2024, at 14:00 UTC. Upon closing, all tokens will be proportionally converted back to SolvBTC.BBN.

There is no lockup period. Users can swap their tokens back to SolvBTC.BBN anytime they need to.

Can’t wait to start earning? Following the user guide and start enjoying the benefits now!

sbbbnQUEEN, turPSBBBN and staYSBBBN are interchangeable. Specifically, 1 SolvBTC.BBN = 1 sbbbnQUEEN = 0.1 turPSBBBN + 0.9 staYSBBBN. There are no creation/redemption fees or split/merge fees.

Each token caters to a different yield expectation. Choose your ideal token or a combo to meet your needs:

turPSBBBN: Max points at 140X rate

Short for “Turbo Point SolvBTC.BBN,” turPSBBBN turbocharges your speed of earning SolvBTC.BBN points. With an innate leverage of 10 and a bonus multiplier of 14 from Solv, turPSBBBN earns SolvBTC.BBN points at a 140x rate.

turPSBBBN gets all the point-shares allocated to staYSBBBN and pays staYSBBBN a fixed interest rate as cost.

You can swap turPSBBBN back to SolvBTC.BBN anytime or hold it until the fund ends, when all turPSBBBNs will be converted back to SolvBTC.BBN.

staYSBBBN: Fixed yield of 12%

Short for “Stable Yield SolvBTC.BBN,” staYSBBBN earns a fixed interest of 12% and no points (we know we said 8% in the proposal but we’re sure you won’t mind an additional 4% increase). If you are looking for a fixed yield to accompany your SolvBTC.BBN staking reward, this is the one for you.

Don’t confuse the fixed APR with the staking yield. The staking yield paid to SolvBTC.BBN holders are separate from the fixed yield and will not be affected.

You can swap staYSBBBN back to SolvBTC.BBN anytime or hold it until the fund ends when all staYSBBBNs will be converted back to SolvBTC.BBN.

staYSBBBN-SolvBTC.BBN LP: Points, yield, CHESS incentives, and trading fees

staYSBBBN-SolvBTC.BBN LP holders collect a basket of yields including four parts:

CHESS rewards: Weekly CHESS emission.
Trading fee: 0.05%
Interest: Partial interest from staYSBBBN. For example, if one LP token consists of 0.6 staYSBBBN and 0.4 SolvBTC.BBN, the LP token would earn 0.6 * 12% = 7.2% interest.
SolvBTC.BBN multiplier: Each SolvBTC.BBN in LP receives a 14x multiplier of SolvBTC.BBN points. The calculation will be based on the notional value of SolvBTC.BBN in the pool.

sbbbnQUEEN: The magic of the Tranchess structure

As mentioned above, 1 SolvBTC.BBN = 1 sbbbnQUEEN. One sbbbnQUEEN can be split into 0.1 turPSBBBN and 0.9 staYSBBBN and vice versa. sbbbnQUEEN itself does not earn any points.

However, if you split sbbbnQUEEN into turPSBBBN and staYSBBBN and hold both tokens (no further actions needed), you would immediately boost your overall point multiplier to 14x due to the leverage and boost for turPSBBBN.

You can always merge turPSBBBN and staYSBBBN back into sbbbnQUEEN and redeem it back into SolvBTC.BBN. There is no lockup period, creation/redemption fee, or split/merge fee.

As one of the first protocols on the BNB Chain to explore BTC staking and the BTCFi narrative, we are excited to continue the partnership with Solv in providing our users with more BTC staking yield opportunities. SolvBTC.BBN marks an important step forward in this journey, combining the reliability of our proven structure with the enhanced potential of a new asset, serving as a powerful tool in maximizing returns for our users. Stay tuned as we continue to evolve and expand the possibilities in DeFi!

Turbo token will also receive 1X Babylon points. More information to be released soon!