In early 2025, Binance is pleased to introduce their third project on Binance Megadrop, namely Solv Protocol (SOLV), a Bitcoin staking protocol, which is building a Bitcoin-centric financial ecosystem.
Come on, learn more about Solv Protocol (SOLV).
➡️ What is Solv Protocol (SOLV)?
Solv Protocol is a Bitcoin staking protocol, building a Bitcoin-centric financial ecosystem to unlock over $1 trillion of Bitcoin assets.
Through its Staking Abstraction Layer, SolvBTC, and SolvBTC.LSTs (Liquid Staking Tokens), Solv Protocol enables retail and institutional investors to capture diverse yield opportunities without sacrificing liquidity by seamlessly integrating Bitcoin into the DeFi ecosystem.
➡️ Key Metrics (per 31 Desember 2024)
Token Name : SOLV
Token Type : BEP-20
Initial Circ. Supply When Listed on Binance : 1,482,600,000 (17.65% of genesis token supply, 15.35% of max token supply)
Maximum Token Supply : 9,660,000,000
Total Token Supply : 8,400,000,000 (86.96% of max token supply)
Binance Megadrop Allocation : 588,000,000 (7.00% of genesis token supply, 6.09% of max token supply)
Binance Megadrop Start Date : 2025-01-07 00:00:00 (UTC)
➡️ Project Key Highlights
Staking Abstraction: SAL Solv Protocol abstracts the various processes and hundreds of parameters for bitcoin staking, managing the complexity of Bitcoin staking across multiple ecosystems and providing a unified interface for Bitcoin holders, enabling Bitcoin holders to earn yields across multiple blockchains.
Non-Custodial: Solv Protocol uses a decentralized mechanism to manage user assets throughout the entire Bitcoin staking process. With the interaction of Smart Contracts, Bitcoin scripts, and third-party verification, users' Bitcoin assets are processed in a non-custodial environment.
Bitcoin Reserve Offering (BRO): To leverage its Bitcoin reserves, Solv initially plans 3 BROs, each minting 42 million SOLV tokens exclusively for convertible note sales (scheduled for Q1, Q2, and Q3 2025). These sales will acquire BTC for the protocol’s reserves. The convertible notes will mature in one year, with SOLV tokens redeemable in Q1, Q2, and Q3 2026 respectively. After that, subsequent Bitcoin Reserve Offerings will be under DAO governance and the token supply can be increased through network governance for the Bitcoin Reserve Offering.
➡️ Token Allocation (of genesis supply)
You can find more information by clicking this link.
The information above is brief information about Solv Protocol (SOLV). And for those of you who may not know about Binance Megadrop, see the following explanation below.
➡️ What is Binance Megadrop?
Binance Megadrop is a token launch platform that combines elements of Binance Simple Earn and Binance Web3 Wallet to create an innovative airdrop experience. The platform is designed to give users early access to new token projects and multiple ways to earn rewards. With Binance Megadrop, users can subscribe to fixed-term products, complete Web3 missions, and receive token rewards proportional to their accumulated score.
➡️ How Binance Megadrop Works
Step 1: Lock BNB to Earn Points
To participate in Binance Megadrop, users must lock their BNB into fixed-term products available on Binance Simple Earn. Points earned are based on the amount of BNB locked and the duration of the subscription period. Longer locking periods and larger amounts of BNB will result in higher scores, resulting in higher reward allocations.
Step 2: Complete the Web3 Mission
Users can further increase their score by completing Web3 missions. These quests are available on the Binance Megadrop page which provides users with detailed instructions and tutorials on how to participate. In addition to increasing their score, completing these tasks will also increase users’ understanding of the blockchain ecosystem.
Step 3: Get the Prize
Based on the accumulated score from locking BNB and completing Web3 missions, users receive token rewards from the projects presented. These rewards are distributed proportionally to the user’s score to incentivize active participation in both aspects of the Megadrop program.
For further explanation regarding Binance Megadrop, you can see by clicking this link .
For the official announcement regarding Solv Protocol (SOLV) on Binance Megadrop, you can seehere.
Binance will then list Solv Protocol (SOLV) at 2025-01-17 10:00 AM (UTC) and open trading with SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY trading pairs. The seed tag will be applied to SOLV.