The Third Project Announced by the Inventory Mega Drop By Binance Is Solv Protocol (SOLV)
To reiterate, the first listing of Solv will be on Binance.
A Bitcoin staking mechanism, Solv operation provides the financial ecosystem dominated by Bitcoin.
Solv Protocol (SOLV) is the third initiative of the
Binance SOLVmegadrop project announced by the world’s biggest crypto exchange. This Bitcoin staking protocol intends to develop a financial ecosystem that is premised on Bitcoin.
Important Details Related to SOLV Megadrop
The total aggregate circulation of all SOLV tokens in circulation cannot at any moment go beyond 9,66 billion SOLV that are in the circulating supply but this summary does have a possibility of changing due to the Bitcoin Reserve Offering network governance.
At 8.4 billion SOLV, Genesis Tokens total supply is in the region of around 87% of the maximum figure that can be available in circulation.
7% of the Genesis token supply and a little over 6% of the maximum token supply is accounted for by the Megadrop with 588,000,000 SOLV tokens available in this case.
When trading on Binance Spot occurs, 142 million SOLV tokens or more than seventeen per cent of the initial supply more than fifteen per cent of maximum supply will be circulating.
In their public notice, Binance also announced that Web3 quests, the Megadrop fund, and the information about the listing plan will come in due course.
🟡Note that SOLV will be placed on Binance by default.
🟡What is the Binance Megadrop In simple terms?
Megadrop is a multilevel platform Binance uses for erc for its operations. They also engender a primary market where people can find upcoming projects and get involved and earn profits on the platform too by acting as an ecosystem booster.
Users can join certain exclusive web3 projects that are scheduled to appear on the inventory through Locked Products, or complete specific tasks with their Web3 wallet for a chance to join those workshops.
For the Megadrop, signing up for or creating an account is the basis that users of the new platform begin with.
🟡BounceBit and Lista were the first two projects for megadrop
🟡So, what exactly is the Solv Protocol (SOLV)?
According to the project’s website, Solve Protocol is one of the most prominent bitcoin staking platforms which is powered by Staking Abstraction Layer.
🟡The SAL: A Bitcoin Opportunity of Epic Scale
To enable Bitcoin staking to be fully adopted, the SAL: Staking Abstraction Layer, Solv Protocol announced via X that it has managed to raise $ 25 million in total funding on October 14 to make the announcement.
Staking on Bitcoin has never been so easy with Solv Protocol's staking abstraction layer. The aim is to provide standards and better interoperability to the users as they try to bring the bitcoin staking space to the masses.
But the project team admitted on X that Bitcoin faces huge challenges despite its trillion-dollar capitalization. Some of these include:
🟡A Lack of natural supply
🟡Dispersed liquidity within Defuzzification at this level
🟡The Core DeFi Primitives are only partially integrated.
Mastering interfaces and being transformable across blockchains brings SAL to the clear benefit of making Bitcoin staking easy and less cumbersome in all starkness.
With SAL, BNB Chain, Ceffu, and Chainlink are working with BNB Chain to help BTC owners stake across any protocol with little fuss so as to resolve Bitcoin’s protocol drama issues and realise new opportunities.
🟡An Easy Way to Stake Bitcoins
🟡For users, Bitcoin staking is made easier with:
Staked SolvBTC and all other future rewards and Solv Points through Babylon staking are represented by the yield bearing token SolvBTC.BBN.
This is SolvBTC.ENA which is a liquid yield token that can work with a variety of DeFi protocols. For all the Bitcoin holders who want to lock their bitcoins on the Core Network and earn rewards, there is SolvBTC.Core, a liquid staking token.
On December 30th at 12 PM UTC via Discord, there’s a “Meet the Team” event where Solv Protocol members will have a chance to:
🟡Let me introduce Ryan Chow, co founder of the project.
🟡Find out where the project has been and where it is going to go next.
🟡Take part in community events.
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