How SOLV Locked Products Work
Deposit Assets:
Users deposit their crypto assets #ETH #BNB #USDT into a SOLV Locked Product smart contract.
The assets are locked for a predetermined period, which can range from days to months or even years.
Mint Locked Position NFT:
Once the assets are locked, the protocol mints an NFT that represents the user's locked position.
This NFT contains details such as the amount of assets locked, the lock-up period, and the expected rewards.
Earn Rewards:
During the lock-up period, the locked assets generate rewards. These rewards can come from:
Staking rewards (if the assets are staked).
Interest from lending protocols.
Protocol-specific incentives (e.g., SOLV tokens or other rewards).
NFT Trading:
The NFT representing the locked position can be traded on secondary markets.
This allows users to sell their locked positions to others if they need liquidity before the lock-up period ends.
Unlock Assets:
At the end of the lock-up period, users can unlock their assets and claim their rewards.
The NFT is burned, and the assets (plus rewards) are returned to the user's wallet.