Solver flow reaches Solana.
The Solver protocol cleared its first Solana settlement of the trailing window — a cbBTC → cbBTC route out of Base — while BTC → WBTC extended its lead into Ethereum. The trailing four-week yield stands at 8.4% BTC APY.
The week in numbers.
Each week's settlement volume and the yield it earned.
Solver performance.
Settlement volume stepped back from the heavier weeks of late June and early July, coming in under its trailing 8-week average. What did settle was concentrated: Ethereum took 46.8% of destination flow, led by BTC → WBTC, which grew 12.7% against the broader pullback to finish at 37.2% of volume. The expansion sat further down the table — BTC → cbBTC into Ethereum expanded 63.9% week over week, and the first Solana settlement of the trailing window cleared via cbBTC → cbBTC out of Base.
Yield tracked the quieter tape. The week produced 3.0 basis points of net yield as settlement spreads compressed alongside volume — a small sample, and not indicative of the product's rate of return on its own. The trailing four-week figure, which smooths week-to-week settlement mix, stands at 8.4% BTC APY.
First activity on cbBTC → cbBTC (base → solana) in the trailing window.— New route
Where volume settled, by chain and route.
| Route · chain | Vol. ₿ | Trades | Share | WoW |
|---|---|---|---|---|
| BTC → WBTCBitcoin → Ethereum | 6.4952 | 26 | 37.2% | +12.7% ▲ |
| BTC → cbBTCBitcoin → Base | 5.1754 | 24 | 29.6% | −3.8% ▼ |
| BTC → WBTCBitcoin → Arbitrum | 3.3527 | 5 | 19.2% | −59.6% ▼ |
| BTC → cbBTCBitcoin → Ethereum | 1.6012 | 4 | 9.1% | +63.9% ▲ |
| cbBTC → cbBTCBase → Solana | 0.4984 | 1 | 2.8% | — |
| Week total | 17.4277 | 81 |
The record to date.
The Solver protocol has settled 343.88 ₿ across 1,233 trades in the 16 weeks since inception on April 1, 2026 — net-positive in 16 of them.
The latest month against every month before it.
| Month | Vol. ₿ | Trades | BTC APY | MoM |
|---|---|---|---|---|
| April 2026 | 10.09 | 94 | 17.6% | — |
| May 2026 | 66.02 | 230 | 11.7% | +554.6% ▲ |
| June 2026 | 193.48 | 607 | 9.4% | +193.1% ▲ |
| Since inception | 343.88 | 1,233 | 9.3% |
Credit programs.
Both mining-loan programs remain fully deployed and in scheduled repayment, settled in native BTC. Mezzamine Mining Loan I has returned roughly 20% of the amount raised, while Mezzamine Mining Loan II, the more recent program, stands at 5%. There were no new program events this week.
About.
About this report. The Bitcoin Solver provides settlement liquidity for cross-chain Bitcoin flow, earning a spread on each completed settlement. Every figure here is a realized, BTC-denominated result, net of fees — not a quoted or projected rate. Because a single week is a small sample, the trailing four-week and since-inception figures are the more reliable guide to expected performance.
About the Bitcoin Solver. The Solver is one of Maestro Institutional's curated BTC yield vaults — a permissioned, compliant strategy that earns by meeting cross-chain Bitcoin demand, taking deposits and paying distributions in native BTC. Qualified investors can review the terms and live performance on the vault page.
About Mezzamine Credit. Mezzamine is Maestro's credit marketplace for secured, BTC-denominated lending to Bitcoin miners. Maestro vets each borrower and structures each program; lenders fund them and are repaid, with interest, in BTC. The program statuses and events reported above are re-derived each week from on-chain records.
About Maestro. Maestro is building the financial rails for the Bitcoin economy: a vertically integrated stack across data, liquidity, and credit that puts idle Bitcoin to work financing real-world activity. Our mission is to accelerate the world's transition to a financial system backed by energy and anchored by Bitcoin. More on what we're building →
