YEREVAN (CoinChapter.com) — Solv Protocol is preparing to launch its native token, SOLV, on the Hyperliquid blockchain. Hyperliquid is a layer-1 (L1) blockchain network that specializes in spot and derivatives trading. The token listing was confirmed on Dec. 19, making it one of the first tokens on the platform.
The Hyperliquid spot exchange, operational since May, currently lists around a dozen tokens. Solv has secured its listing but has not yet announced the specific launch date. No details about the SOLV token’s use cases or mechanisms have been provided at this time.
Hyperliquid Gains Momentum With High TVL
Hyperliquid has attracted over $2.5 billion in total value locked (TVL) since its launch, according to DefiLlama. This blockchain aims to replicate the efficiency of centralized exchanges while operating within a decentralized framework.
The platform supports leveraged perpetuals trading and offers spot markets for tokens like BTC and PENGU, a native token of the Pudgy Penguin NFT project. To maintain exclusivity, Hyperliquid allows new token listings only once every 31 hours through a permissionless auction process. Proceeds from these auctions are funneled into the platform’s liquidity pool.
Solv secured its listing on Hyperliquid through this auction process, paying approximately $130,000 for the slot.
High Leverage and Perpetual Futures on Hyperliquid
Hyperliquid offers perpetual futures (perps) trading, allowing users to take positions without expiration dates. The platform enables up to 50x leverage, attracting traders seeking advanced trading options.
These derivatives tools provide flexibility for traders, setting Hyperliquid apart from other decentralized exchanges.
Solv Protocol Manages $3 Billion in Bitcoin Staking
Solv Protocol currently oversees more than $3 billion in TVL across multiple blockchain networks. It generates yield through Bitcoin staking and engages with Bitcoin layer-2 solutions like Babylon and CoreChain, alongside DeFi protocols such as Jupiter and Ethena.
In November, co-founder Ryan Chow highlighted Solv’s plans to launch an “onchain MicroStrategy.” This initiative aims to establish yield-bearing Bitcoin reserves, combining wealth preservation with yield generation strategies.