StrongHodl & shBTC

StrongHodl enables BTC staking in DeFi, letting holders earn rewards with liquidity via shBTC on Ethereum and Solana. Secure, flexible, and optimized for yield.

StrongHodl: Revolutionizing Bitcoin Staking in DeFi

Overview

Decentralization is the cornerstone of the blockchain ecosystem and is inherent to Bitcoin’s fundamental characteristics. Its success has ushered in a new era of financial independence, privacy, global access, and notable resistance to censorship, all within the context of a deteriorating and devaluing economic system.

StronHodl’s vision seeks to preserve Bitcoin’s fundamental essence creating a community-based liquid staking protocol for Bitcoin. To be true to bitcoin and crypto original philosophy, the protocol is community-driven through a DAO, complemented by a governance system based on Fortresses (houses) to ensure the proper functioning of the protocol.

StrongHodl is a cutting-edge liquid restaking protocol designed to bring the benefits of decentralized finance (DeFi) to Bitcoin holders. Through StrongHodl, users can stake their Bitcoin, earning rewards without sacrificing liquidity. This innovative approach lets users participate in staking and earn yield on their BTC while retaining the flexibility to access their funds at any time. By combining the security of staking with the adaptability of DeFi, StrongHodl offers an efficient way for users to generate native returns on Bitcoin, the world’s leading cryptocurrency.

StrongHodl operates using the Babylon Protocol, providing users with a 1:1 liquid token representation of their staked Bitcoin. This tokenized representation of BTC is known as shBTC (synthetic BTC), which can be freely traded and utilized within DeFi ecosystems, allowing users to access additional yield through liquidity protocols. With Babylon’s secure Proof of Stake (PoS) system, users can be confident in the protocol’s economic security and their tokenized holdings.

Background

Historically, Bitcoin’s architecture lacked smart contract capabilities, limiting its use in DeFi. However, recent Bitcoin updates have introduced conditional spending scripts, allowing Bitcoin to function within a staking-like framework. These advancements enable Bitcoin, previously stored passively in wallets, to now be mobilized across the DeFi ecosystem. With StrongHodl, Bitcoin holders can unlock new yield opportunities, transforming BTC into a versatile asset for decentralized finance.

Key Features

1. Cross-Chain Synthetic BTC (shBTC)

Mint shBTC on either Ethereum or Solana, empowering users to select their preferred blockchain ecosystem. By leveraging these two major DeFi ecosystems, shBTC holders can maximize the opportunities available across both chains.

2. Governance and Yield System

Fortresses (houses), a cornerstone of the protocol’s governance and reward distribution, act as the primary representatives of the DAO. These entities play a crucial role in decision-making while collaborating closely with development teams to define and guide the project’s direction. Through this collaborative approach, the protocol ensures that community voices are heard and that development aligns with members’ needs and aspirations. In this way, Fortresses become a vital link between the community and developers, fostering a dynamic and participatory ecosystem.

3. Secure Bridging

StrongHodl’s secure bridging mechanism facilitates seamless transfers of shBTC between Ethereum and Solana, ensuring that users can maintain liquidity and flexibility across chains.

4. Community Role-Based Access and Incentives

Community Users can achieve different roles within StrongHodl based on their activity level, granting specific privileges and rewards. This system incentivizes participation and provides additional benefits to power users, liquidity providers, and governance participants.

5. Real-Time Analytics with Dune

StrongHodl integrates with Dune for advanced on-chain analytics, allowing users to track shBTC activity, protocol performance, and user engagement metrics. This real-time data provides transparency and enhances decision-making for users.

6. API Integration with Ethereum and Solana DeFi Applications

StrongHodl offers APIs for seamless integration with major DeFi platforms, including Lido, Aave, and Eigenlayer on Ethereum, and Jito, Solayer, and Save on Solana. This connectivity enables shBTC holders to access a wide range of DeFi services, from staking and lending to yield farming.

About shBTC

shBTC (Synthetic BTC) is the tokenized representation of staked Bitcoin within the StrongHodl protocol. Minted on either Ethereum or Solana, shBTC allows Bitcoin holders to tap into DeFi opportunities while retaining the ability to bridge assets across chains. With shBTC, users benefit from yield-generating activities and liquidity provision, creating a dynamic use case for Bitcoin in the DeFi space.

• Networks: Ethereum and Solana, with secure cross-chain bridging.

• Key Characteristics: 1:1 backing with staked Bitcoin, freely tradable across chains, and compatible with multiple DeFi platforms.

StrongHodl Security and Partners

StrongHodl’s commitment to security is reinforced by partnerships with industry leaders like Ledger, Fireblocks, and Babylon Protocol. The platform’s Security Control Center ensures a secure staking environment by performing regular audits, monitoring for threats, and coordinating with a network of security experts. Users can be confident in the protocol’s resilience and the protection of their assets.

In Summary

StrongHodl offers a groundbreaking way for Bitcoin holders to earn rewards through staking while enjoying the flexibility of liquid tokens and being part of an active crypto community. By merging the stability of staking with DeFi’s yield opportunities, StrongHodl unlocks the potential of BTC within decentralized finance, empowering users to actively participate in the expanding DeFi ecosystem.