Solv Protocol PoR:- Proof of Reserves (PoR) seem to have occupy the leading media narrative in the recent weeks. A tradition that web3 companies began following after the FTX collapse, has now become the benchmark for authentication and trademark. A number of CEXs and DeFi companies are increasingly continuing to adopt Proof of Reserves to win users’ trust. Adding to the latest instance, DeFi Platform Solvs Protocol has adopted Proof of Reserve for “real-time transparency.” Announcing on Monday, the Yzi Labs supported Bitcoin DeFi Protocol has adopted Chainlink Proof of Reserve (PoR) to secure over $2 billion of collaterized assets. With this adoption, Solv has deployed its Proof of Reserce feeds on BNB Chain and Ethereum. This will give its users a real-time transparency mechanism to check the security of their collaterized Bitcouna or other staked assets. However, the debate about the need of Proof of Reserves as transparency and… Read More at Coingape.com
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