Solv Protocol

Solv Protocol receives a D+ risk grade (58/100) from Hindenrank, where lower scores indicate lower risk. Useful BTC-yield aggregator, but the aggregation hides a stack of independent risks that sum rather than diversify. Size accordingly. Solv Protocol wraps BTC into SolvBTC — a yield-bearing token representing a pooled share of multiple BTC yield strategies (Babylon restaking, Ethena delta-neutral, farms). ~$1.9B TVL makes it a top-3 BTC LRT/LST. The aggregation is the feature: users get diversified BTC yield from a single token. The aggregation is also the risk: you are exposed to every sub-strategy, plus Solv's routing logic, plus cross-chain bridges, plus the upgrade multisig. The April 2026 KelpDAO bridge exploit ($292M) shows this class of protocol is an active target.

The key risks identified for Solv Protocol are: (1) Multiple yield strategies bundled together means losses in one strategy are socialised across all SolvBTC holders (2) Cross-chain SolvBTC via CCIP inherits the same bridge-config attack surface that just cost Kelp $292M (3) Team multisig still has material upgrade/strategy authority (4) Upstream Babylon and Ethena dependencies bring their own risks (slashing, funding-rate reversal) (5) Documentation on current strategy mix is thinner than holders would want

Solv Protocol scores 58/100 across eight risk dimensions: Mechanism Novelty: 10/15, Interaction Severity: 13/20, Oracle Surface: 6/10, Documentation Gaps: 5/10, Track Record: 8/15, Scale Exposure: 5/10, Regulatory Risk: 5/10, Vitality Risk: 6/10. The highest risk area is Mechanism Novelty at 10/15.

Among 26 rated Restaking protocols on Hindenrank, Solv Protocol ranks #24 by safety (lowest risk score = safest). Its 58/100 risk score and D+ grade place it among the riskier Restaking protocols.

Solv Protocol scores 8/15 on the Track Record risk dimension, indicating some history of security incidents or exploits. Higher scores reflect more severe or frequent incidents. Review the full risk report for details.