CoinVoice has learned that Ryan Chow, co-founder of the BTCFi project Solv Protocol, stated, "After experiencing a whole day of baseless public opinion attacks such as '1,800 RUG' and 'private agreements' yesterday, Solv faced even more absurd accusations today. These accusations invariably target the core asset security issues, but their basis is erroneous and self-contradictory, attempting to mislead the public through confusion. In response, we have decided to address this head-on and use facts to shatter these false claims."
In response to Nubit co-founder Hans's accusations regarding the misappropriation of the underlying BTC of SolvBTC.BBN, Chow pointed out that the mempool transaction cited by the other party is 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 staking occurring on December 19, and extraction and re-staking on January 2, which is also the reason for updating the address to DeFiLlama.
Additionally, in response to the doubts about the decline in TVL of SolvBTC.BBN during the Babylon Cap3 period, Chow stated that this was due to the project initiating a normal redemption mechanism, which precisely reflects the product's liquidity and flexibility. At the same time, he also refuted the market speculation about 'BTC triple counting,' which claims that the same BTC is counted three times in the TVL.
Chow emphasized that as a project developed over four years, Solv has encountered such a meticulously planned attack during the sensitive period leading up to the TGE (Token Generation Event), providing ample on-chain evidence and technical documentation support, inviting the market and users to make their own judgments. [Original link]
