Strike Finance Reports Record TVL Above $2.5 Million

Strike Finance reported on November 9 that total value locked across the protocol had surpassed $2.5 million, an all-time high according to the project. Its SLP liquidity vault was approaching $2 million in locked value.

Strike Reports Two BTC Milestones in Three Days

On November 6, Strike reported that more than $750,000 in BTC had been supplied to its liquidity vault. Three days later, it reported more than $1 million across its liquidity vaults. The updates give rounded figures and describe different scopes, leaving the exact change over those three days unclear.

enzoBTC Backs Loans That Fund the SLP Vault

On October 29, Ben Ryan announced that Strike’s Borrow to Earn program had begun accepting enzoBTC, a tokenized form of bitcoin from Lorenzo Protocol. Users deposit the token from an Ethereum wallet and pledge it as collateral for a dollar-denominated loan. Under the program’s terms, the loan carries 0% interest and the proceeds go directly into the SLP liquidity vault.

Strike launched its perpetual futures platform on Cardano. The enzoBTC integration gives the platform a way to draw liquidity from loans backed by assets held on Ethereum. The amount added to SLP through each loan is the amount borrowed, while the pledged enzoBTC secures repayment.

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Strike Has Yet to Disclose the Value of enzoBTC-Backed Loans

Strike’s update put a dollar figure on the BTC supplied to its vaults and on the size of SLP. It did not specify how much BTC was supplied as enzoBTC or how pledged assets were counted in the protocol-wide TVL. The figure that would quantify the integration’s contribution to SLP is the amount of outstanding loans backed by enzoBTC and deployed in the vault.