Currently one of the representative projects in the BTCFI track, but its overall development shows obvious phased characteristics. The price was around $0.1 during the initial airdrop, then quickly declined, and has now retraced about 70% from its peak.
From the development path, SOLV has continued Merlin's liquidity mining strategy, generating hype by increasing TVL. Whether through cross-chain expansion or including various assets in TVL, it essentially seems to be aimed at showcasing data performance in front of exchanges. However, this kind of model often struggles to sustain after TGE, with prices and sentiment quickly retreating.
On a technical level, SOLV has yet to demonstrate the capability of EVM chains to provide sufficient security for BTC assets. For large BTC holders, if security cannot approach 100%, it is difficult to deposit core assets into related protocols. Therefore, in the BTCFI track, SOLV is currently closer to a transitional product, relying on airdrops and liquidity mining strategies to create hype in the short term, but whether it can stand firm in the long term depends on security and the realization of real application scenarios. If the high security requirements of large BTC funds cannot be addressed, the project's valuation and narrative will be limited. $BTC