Binance has launched the Solv Protocol (SOLV) as the third project in its Megadrop initiative, providing users with opportunities to earn rewards through BNB locked products and Web3 quests. This Megadrop event commenced on January 7, 2025, at 00:00 UTC and will run until January 16, 2025, at 23:59 UTC.
Key Features of the Solv Protocol Megadrop
Launch Date: January 7, 2025
Listing Date on Binance: January 17, 2025, at 10:00 UTC
Trading Pairs Available: SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY
Participants can engage in the Megadrop by locking BNB or completing specific Web3 quests to accumulate scores that determine their rewards.
Participation Details
BNB Locked Products:
Users can lock their BNB prior to the Megadrop start date to maximize their Locked BNB Scores.
Hourly snapshots of BNB subscriptions will be taken throughout the period.
Web3 Quests:
Users can complete designated quests to enhance their scores. One of the key quests involves staking a minimum of 0.0001 BTCB on the Solv Protocol starting from January 17, 2025.
Rewards CalculationThe total score for participants will be calculated using the following formula:
Total Score=(Locked BNB Score×Web3 Quest Multiplier)+Web3 Quest BonusTotal Score=
The Locked BNB Score is based on various averages of locked amounts over different timeframes.
The Web3 Quest Multiplier is set at 1.5, and there is a fixed Web3 Quest Bonus of 500.
Each participant must complete KYC verification in eligible jurisdictions and has a hard cap of receiving up to 4,704,000 SOLV tokens.Tokenomics
Maximum Token Supply: 9,660,000,000 SOLV
Genesis Token Supply: 8,400,000,000 SOLV
Megadrop Token Rewards: 588,000,000 SOLV (approximately 7% of the genesis supply)
The rewards will be distributed based on the total score achieved during the participation period.For more details about participating in the Solv Protocol Megadrop and specific instructions for completing tasks, users are encouraged to visit the Binance platform where further resources and FAQs are available.