Binance will launch spot trading for SOLV, the native token of Solv Protocol, on January 17 at 10:00 UTC.

In the customer update on January 6, the exchange confirmed the trading pairs for SOLV, including USDT, BNB, FDUSD, and TRY. Upon listing, SOLV will have a total circulating supply of 1,482,600,000 tokens, representing 17.65% of the initial total supply of 8.4 billion and 15.35% of the maximum total supply of 9.66 billion.

Solv Protocol is a Bitcoin staking platform with the goal of creating a Bitcoin-native financial ecosystem. It offers staking opportunities for Bitcoin holders, the leading digital asset with a market capitalization of nearly $2 trillion. The project has received support from Binance Labs and several prominent VC firms, including Nomura's Laser Digital, Blockchain Capital, and OKX Ventures, in a strategic funding round that raised $11 million last October.

Binance first announced plans to list SOLV on December 30, warning users to avoid platforms falsely claiming to trade this token before its official launch. The exchange also added this token to its Megadrop program, with an airdrop event scheduled for January 7 at 00:00 UTC.

Binance Megadrop gives users early access to selected Web3 projects through interactive tasks. Participants will earn points that can be redeemed for airdrop tokens before listing. For SOLV, 588 million tokens will be distributed to eligible Binance users until January 16. Rewards are based on points earned by signing up for BNB Locked Products or completing tasks on the Solv Protocol. Binance advises users to meet both criteria to maximize rewards.

In related news, the investment department of the cryptocurrency exchange, Binance Labs, recently made an undisclosed investment in THENA, a DEX and liquidity protocol built on BNB Chain. This subsidiary claims that THENA's approach is crucial for the future of DeFi as it truly brings users on-chain. They state that this investment aims to accelerate the development of the platform, enhance security, and expand the user base while promoting mass adoption of DeFi with a focus on scalability and user experience.

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