PANews reported on December 31 that according to a research report on the Bitcoin staking protocol Solv Protocol released by Binance Research, Solv Protocol has raised approximately $24 million through four rounds of private placements, of which 28.86% of the Genesis token supply has been sold. As of December 31, 2024, the maximum token supply of SOLV is 9.66 billion (dynamic, and may be increased through DAO governance of the Bitcoin reserve fundraising plan). The total Genesis supply of SOLV is 8.4 billion. The circulating supply after listing on Binance will be 1.4826 billion.
SOLV tokens are distributed as follows:
①Binance Megadrop: 7.00% of total genesis supply; 6.09% of maximum supply.
② Community Airdrop: 8.50% of the total Genesis supply; 7.39% of the maximum supply.
③Team and Advisors: 13.00% of the total Genesis Supply; 11.30% of the maximum supply.
④ Community Rewards & DAO Treasury: 18.00% of the total Genesis Supply; 15.65% of the maximum supply.
⑤ Community Rewards (External Partners): 8.50% of the total Genesis Supply; 7.39% of the maximum supply.
⑥Ecological Development: 8.14% of the total Genesis supply; 7.08% of the maximum supply.
⑦Business Development: 4.00% of the total Genesis Supply; 3.48% of the maximum supply.
⑧Vesting Voucher holders: 1.00% of the total Genesis supply; 0.87% of the maximum supply.
⑨ Private equity investors: 28.86% of the total genesis supply; 25.10% of the maximum supply.
⑩Liquidity: 3.00% of total genesis supply; 2.61% of maximum supply.
⑪Bitcoin Reserve Fundraising Plan: 0.00% of the total Genesis Supply; 13.04% of the maximum supply.
About the Bitcoin Reserve Funding Plan: Solv initially plans to conduct 3 BROs, each issuing 42 million SOLV tokens specifically for convertible note sales (scheduled to be issued in Q1, Q2, and Q3 of 2025). These sales will acquire BTC for the protocol’s reserves. The convertible notes mature in one year, and SOLV tokens can be claimed in Q1, Q2, and Q3 of 2026. After that, further Bitcoin reserve fund-raising plans will be under DAO governance, and the token supply may be increased through the Bitcoin reserve fund-raising plan under DAO governance.
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Author: PA first line This content is only to provide market information and does not constitute investment advice.
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The post Report: 7.39% of SOLV’s maximum supply is allocated to community airdrops and 13.04% is allocated to the Bitcoin Reserve Program appeared first on CoinBuzzFeed.
