According to ChainCatcher, Ryan Chow, co-founder of the BTCFi project Solv Protocol, stated, 'After experiencing a whole day of baseless public opinion attacks like '1,800 RUG' and 'private agreements' yesterday, Solv faced even more absurd accusations today. These accusations invariably target the most critical asset security issues, but their basis is erroneous and contradictory, attempting to mislead the public by creating confusion. In response, we have decided to address this head-on and shatter these false statements with facts.'
In response to Nubit co-founder Hans's accusation of misappropriating the underlying BTC of SolvBTC.BBN, Chow pointed out that the mempool transaction cited by the other party was actually a routine operation of SolvBTC.CORE. According to the project mechanism, SolvBTC.CORE must re-stake BTC to a new script address every half month, with the last stake occurring on December 19 and the withdrawal and re-staking happening on January 2, which is also the reason for updating the address to DeFiLlama.
In addition, in response to the skepticism regarding the decline of TVL for SolvBTC.BBN during Babylon Cap3, Chow stated that this was due to the project's normal redemption mechanism being activated, which precisely reflects the product's liquidity and flexibility. At the same time, he also refuted the market speculation about the 'BTC triple counting,' which suggested that the same BTC was counted three times in the TVL.
Chow emphasized that as a project deeply involved for four years, Solv has faced such meticulously planned attacks during the sensitive period leading up to the TGE (Token Generation Event), providing ample on-chain evidence and technical documentation in support, inviting the market and users to make their own judgments.
