Solana-based MonkeDAO acquires zBTC as a Bitcoin reserve
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MonkeDAO, a Solana-based NFT project, has become the first decentralized autonomous organization to adopt a Bitcoin reserve by acquiring 1 zBTC token. This move represents a strategic effort to diversify its treasury and participate in Bitcoin DeFi (BTCFi) on the Solana blockchain, leveraging a 1:1 pegged token that offers permissionless Bitcoin exposure.
March 28, 2025 | 6:30 pm
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MonkeDAO's zBTC acquisition highlights Solana's growing capabilities in Bitcoin DeFi, potentially attracting more developers and liquidity to the platform.
The news demonstrates Solana's innovative approach to Bitcoin integration, which could attract more projects and investors to the ecosystem, potentially driving SOL's value.
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IMPORTANCE 65
RELEVANCE 75