What is Solv Protocol?
Solv Protocol is a Bitcoin staking protocol, building a Bitcoin-centric financial ecosystem to unlock over $1 trillion in Bitcoin assets.
Through Staking Abstraction Layer, SolvBTC, and SolvBTC.LSTs (Liquid Staking Tokens), Solv Protocol enables both retail and institutional investors to capture diverse yield opportunities without sacrificing liquidity by seamlessly integrating Bitcoin into DeFi ecosystems.
Core Components of Solv Protocol
1. SolvBTC
SolvBTC is a BTC-pegged token with a 1:1 backing, designed for secure cross-chain transfers and participation in DeFi. This allows Bitcoin holders to access decentralized platforms seamlessly while maintaining the value of their assets.
2. SolvBTC.LSTs (Liquid Staking Tokens)
These tokens enable Bitcoin holders to earn yield while retaining liquidity. SolvBTC.LSTs empower users to stake their BTC without locking it entirely, allowing for greater flexibility and utility.
3. Staking Abstraction Layer (SAL)
SAL simplifies the complexities of staking Bitcoin across multiple ecosystems. It abstracts technical intricacies, presenting users with a unified interface to stake Bitcoin and earn yields across different blockchains.
Key Highlights
• Non-Custodial Architecture: Solv Protocol ensures users’ assets remain secure through decentralized mechanisms. Smart contracts, Bitcoin scripts, and third-party verifiers facilitate staking in a non-custodial environment.
• Bitcoin Reserve Offerings (BROs): To enhance its Bitcoin reserves, Solv Protocol plans to launch three BROs in 2025. Each offering will mint 42 million SOLV tokens for convertible note sales. These tokens will mature in 2026, aligning with the protocol’s long-term vision to create a robust on-chain reserve governed by the DAO.
What is the SOLV MegaDrop?
The SOLV MegaDrop is a reward campaign that provides Binance users with two distinct ways to participate and earn rewards:
1. Subscribing to BNB Locked Products:
Lock your BNB on Binance for a specified period and earn SOLV tokens as rewards in addition to the regular yield from locked staking.
2. Completing Web3 Quests:
Engage with tasks and activities designed to familiarize you with the Web3 ecosystem. These quests may include activities such as wallet integration, transaction completions, and engaging with SOLV-related platforms.
Key Details and Timelines
• Start Date: The campaign is already live.
• Eligibility: Open to all Binance users who meet the participation requirements.
• Participation Methods:
BNB Locked Staking: Allocate BNB to the locked staking products through Binance Earn.
Web3 Quests: Follow the instructions provided in the campaign details to complete the required tasks.
How to Participate
1. Log in to Your Binance Account:
Ensure your Binance account is verified.
2. Choose Your Participation Method:
• For BNB Locked Products, go to the Binance Earn section and subscribe to the SOLV MegaDrop staking product.
• For Web3 Quests, navigate to the Web3 campaign page, connect your wallet, and complete the outlined activities.
3. Earn Rewards:
Rewards will be distributed based on the completion of tasks or the locked BNB product you subscribed to. Be sure to read the specific terms and conditions for details on distribution dates.
Important Considerations
• Ensure you have sufficient BNB in your wallet for locked staking.
• Complete Web3 quests accurately to qualify for rewards.
• Read the detailed terms and conditions on the Binance announcement page to avoid any misunderstandings.
Token Metrics (As of December 31, 2024)
• Maximum Supply: 9,660,000,000 SOLV
• Genesis Supply: 8,400,000,000 SOLV
• Circulating Supply (Upon Binance Listing): 1,482,600,000 SOLV (17.65% of genesis supply)
Solv has raised $24M through four private funding rounds, with valuations rising from $20M to $200M.
Tokenomics
SOLV, the native utility token of Solv Protocol, powers the ecosystem through:
• Governance: Token holders vote on network decisions.
• Staking Rewards: Staking SOLV on the Staking Abstraction Layer earns protocol emissions.
• Fee Discounts: SOLV holders enjoy reduced fees, including redemption fees for SolvBTC.
SOLV Megadrop Details:
Token Name: Solv Protocol (SOLV)
Max Token Supply: 9,660,000,000 SOLV (dynamic, may increase via network governance for Bitcoin Reserve Offering)
Total Genesis Token Supply: 8,400,000,000 SOLV (86.96% of max token supply)
Megadrop Token Rewards: 588,000,000 SOLV ( 7.00% of genesis token supply, 6.09% of max token supply)
Initial Circulating Supply When Listed on Binance Spot: 1,482,600,000 SOLV (17.65% of genesis token supply, 15.35% of max token supply)
User Eligibility: KYC required in eligible jurisdictions
Hard Cap per User: 4,704,000 SOLV
Rewards Calculation: Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus
Locked BNB Score (based on hourly snapshots during the BNB Locked Products Snapshot Period) = (Average 120-day BNB Locked Amount 130) + (Average 90-day BNB Locked Amount 120) + (Average 60-day BNB Locked Amount 110) + (Average 30-day BNB Locked Amount 100) + (Average DeFi BNB Assets Amount * 30)
Web3 Quest Multiplier: 1.5
Web3 Quest Bonus: 500
SOLV Megadrop Period:
2025-01-07 00:00:00 (UTC) to 2025-01-16 23:59:59 (UTC)
BNB Locked Products Snapshot Period:
To maximize Locked BNB Scores, users may start locking their BNB in BNB Locked Products before 2025-01-07 00:00:00 (UTC), as hourly snapshots of users’ subscription amounts will be taken during this period. For more information on BNB Locked Products, refer to the FAQ.
Web3 Quest Period:
Users may complete Web3 Quest(s) during the Quest Period.
Web3 Quest 1: “Stake 0.0001 BTCB on Solv Protocol” (Tutorial)
2025-01-17 06:00:00 (UTC)
Rewards Distribution: Users may view their Megadrop rewards in Binance Spot Account.
Binance will then list Solv Protocol (SOLV) at 2025-01-17 10:00 (UTC) and open trading with SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY trading pairs. The seed tag will be applied to SOLV.
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