Binance has just announced the third Megadrop project on the Binance Megadrop Portal. The Solv Protocol (SOLV) project is a Bitcoin staking protocol, building a finance ecosystem focused on Bitcoin. Rewards for BNB key holders and completing Web3 Quest to receive Airdrop. Let’s quickly explore the Solv Protocol project (What is SOLV? What makes it special to appear on Binance Megadrop and how to participate, complete tasks, and receive the Megadrop Airdrop at Binance.
What is the Solv Protocol?
Solv Protocol is the on-chain Bitcoin Reserve, aiming to unlock the full potential of over $1 trillion in Bitcoin assets, a Bitcoin staking protocol, building a finance ecosystem focused on Bitcoin. Through the Staking Abstraction Layer, SolvBTC and SolvBTC.LST (Liquid Staking Tokens), Solv enables both retail and institutional investors to capture diverse profit opportunities without sacrificing liquidity by seamlessly integrating Bitcoin into the DeFi ecosystem.
Solv maximizes returns by flexibly allocating assets into trading strategies, overcoming the limitations of flexibility in profiting from BTC and promoting the growth of the Bitcoin ecosystem.
Mission and values of Solv Protocol
The mission of the project
The mission of Solv Protocol is to unlock the full potential of Bitcoin by transforming over $1 trillion of idle BTC into profit-generating assets and becoming the on-chain reserve for Bitcoin in DeFi.
Value proposition
Unlock the potential of idle BTC. Transform over $1 trillion of idle Bitcoin into active assets, generating profits through innovative staking solutions.
Building a secure, decentralized infrastructure to enhance Bitcoin's utility, enabling profit generation and liquidity across ecosystems while maintaining transparency and trust.
Current products of Solv Protocol
Solv offers a suite of products designed to enhance Bitcoin's utility and liquidity in the decentralized finance (DeFi) ecosystem.
Solv BTC:
SolvBTC is a token pegged at a 1:1 ratio with BTC, facilitating seamless cross-chain transfers and unlocking DeFi participation for Bitcoin holders.
SolvBTC supports native BTC and various BTC derivative assets (BTCB, WBTC, cbBTC, etc.) across multiple blockchains, including Ethereum, BNB Chain, Arbitrum, Avalanche, etc.
SolvBTC traction
SolvBTC.LSTs (Liquidity staking BTC)
SolvBTC.LST (Liquid Staking Token) expands Bitcoin's DeFi accessibility by allowing users to earn profits while maintaining liquidity.
Four distinct product lines:
SolvBTC.BBN (Liquidity staking based on Babylon)
SolvBTC.JUP (Delta neutral strategy based on Jupiter)
SolvBTC.CORE (Liquidity staking based on CoreDAO)
SolvBTC.ENA (Delta neutral strategy based on ETH).
SolvBTC.LSTs Traction
SolvBTC DeFi Vault
SolvBTC DeFi Vault streamlines user interaction with multiple LSTs and DEXs, minimizing the complexity and costs of traditional on-chain transactions.
SolvBTC DeFi Vault Traction
Support for investors and audits
Solv Protocol is backed by prominent investors such as Binance Labs, Blockchain Capital, Laser Digital, OKX Ventures, and many others. Solv Protocol has undergone extensive security audits by leading firms including Quantstamp, Certik, SlowMist, Salus, and Secbit.
This is also why Solv Protocol appears on Binance Megadrop with so many strong investors, notably 'Binance Labs'.
Highlights of Solv Protocol
Staking abstraction: Solv Protocol's SAL abstracts many different processes and hundreds of parameters for staking Bitcoin, managing the complexity of staking Bitcoin across multiple ecosystems and providing a unified interface for Bitcoin holders, allowing them to earn profits across various blockchains.
Non-custodial: Solv Protocol uses a decentralized mechanism to manage users' assets throughout the Bitcoin staking process. With the interaction of smart contracts, Bitcoin scripts, and third-party verifiers, users' Bitcoin assets are handled in a non-custodial environment.
Bitcoin Reserve Offerings (BRO): To leverage its Bitcoin Reserve, Solv plans to issue 3 BROs, each minting 42 million SOLV tokens specifically for convertible bond sales (expected in Q1, Q2, and Q3 of 2025). These sales will buy back BTC for the reserves owned by the protocol. The convertible bonds mature in one year, with the ability to request SOLV tokens in Q1, Q2, and Q3 of 2026. Subsequently, the next Bitcoin Reserve Offerings will be managed by DAO, and the token supply may increase through network governance for the Bitcoin Reserve Offering.
Unified liquidity
SolvBTC brings cross-chain liquidity, opening profit opportunities across various ecosystems.
Low Risk, Stable Returns
Solv Protocol's yield-generating assets (SolvBTC, SolvETH, SolvUSD) not only allow users to benefit from the price appreciation of BTC and ETH, but also provide steady income from meticulously selected investment strategies from reputable partners like Binance, Bybit, GMX.
Optimized yields
Maximize your Bitcoin potential with a variety of profit-generating strategies—staking, arbitrage, and liquidity provision—while still holding Bitcoin.
BTCFi journey
Optimize your Bitcoin DeFi experience with SolvBTC, enabling participation across multiple chains and protocols incredibly simply.
Transparent proof
Rest assured with transparent proof of reserves that can be verified, ensuring that all assets backing SolvBTC are audit-ready and fully secure.
Ability to integrate with other DeFi projects
Assets of Solv Protocol act as flexible LEGO blocks in DeFi, integrating with protocols like Aave, Uniswap, Pendle, etc., helping users optimize capital and increase profits.
On-chain Bitcoin reserves operating on Solv Protocol
Over 11,611 BTC are actively staked in SolvBTC.LST, generating profits and value for holders while maintaining liquidity.
With a usage rate of 90%, SolvBTC transforms Bitcoin from 'HODLing' into a dynamic asset, expanding global financial opportunities.
10,688 BTC deployed across decentralized applications (dApps) and leading ecosystems such as Ethereum, Bitcoin Mainnet, BNB Chain, Arbitrum, Avalanche, etc. This integration connects Bitcoin to the DeFi space, enabling diverse use cases such as liquidity provision, cross-chain transfers, and profit generation.
Solv Protocol's Bitcoin holdings ranked 5th among chains
Solv Protocol's Bitcoin Holdings ranked 7th among Bitcoin and Ethereum ETFs
The MicroStrategy Parallel
Comparing Solv's Bitcoin reserve approach with MicroStrategy.
Solv's Bitcoin reserves have surged to over 30,000 BTC in just six months, while MicroStrategy's holdings remain steady at around 400,000 BTC.
While MicroStrategy focuses on holding, Solv turns $BTC into an active energy source and generates profits.
Tokenomics of Solv Protocol
Token Name: Solv Protocol (SOLV)
Max Token Supply: 9,660,000,000 SOLV (dynamic, may increase via network governance for Bitcoin Reserve Offering)
Total Genesis Token Supply: 8,400,000,000 SOLV (86.96% of max token supply)
Megadrop Token Rewards: 588,000,000 SOLV (7.00% of genesis token supply, 6.09% of max token supply)
Initial Circulating Supply When Listed on Binance Spot: 1,482,600,000 SOLV (17.65% of genesis token supply, 15.35% of max token supply)
Token allocation
Token allocation (maximum supply as of December 31, 2024)
Token release schedule (maximum supply as of December 31, 2024)
Roadmap and Updates
Key milestones completed
Current roadmap
Q1 2025:
CEX and DEX listings
SolvBTC and SolvBTC.LST are integrated with more ecosystems like BeraChain, Sonic, zkSync, Soneium, Sei, and many others
Launch exchange earning campaign
Launch the second SOLV Points Campaign
Launch the first Bitcoin Reserve Offering
Launch SolvBTC.RWA
Q2 2025:
Launch the second Bitcoin Reserve Offering
Launch SolvDAO
Integrate BTC ETF into SolvBTC Core Reserve
Launch additional SolvBTC.LST
Tokenization of ETF
Progress in commercial and business development
Multiple chains and ecosystems. Currently, there are over 10 chains and growing.
Integrated with over 50 partners and DeFi protocols
Exchange earning programs include Binance, OKX, Bybit, etc.
What is Binance Megadrop:
Binance Megadrop is a platform for launching new tokens that seamlessly integrates Binance Simple Earn and Binance Wallet, recreating the user's airdrop experience. Megadrop provides users early access to selected Web3 projects before they are listed on Binance.
This unique combination of interaction, education, and rewards positions Megadrop as an unparalleled interactive experience within both Binance and the broader cryptocurrency ecosystem.
How to get started with Binance Megadrop:
Log into your Binance account.
Register for BNB Locked Products and/or complete Web3 Quest to accumulate points. To complete Web3 Quest, ensure you have at least one active Binance Wallet. Register a Binance account and create your first Binance Wallet now if you haven't done so.
Complete the registration of Locked BNB Products on Simple Earn to accumulate points.
Access Megadrop on the Binance App (to be announced in the second announcement) and complete all assigned Web3 Tasks to accumulate points and receive the points multiplier.
Receive Megadrop rewards based on your Total Score.
Megadrop mechanism based on scores:
Megadrop rewards for each eligible user will be based on the user's Total Score relative to the Total Score of all eligible users.
Scoring system:
Locked BNB points: Users will receive points based on the number of BNB registered and the registration duration. Longer registrations will yield higher points. This score may fluctuate as it is based on the average from daily snapshots.
Web3 Quest Rewards * and Web3 Quest multiplier: Users will receive Web3 Quest Rewards and Web3 Quest multipliers when they complete all assigned Web3 Tasks with the stated minimum requirements.
The system will calculate the user's Total Score by applying the Web3 Task Multiplier to their locked BNB points and then adding Web3 Task Rewards.
Total Score = (Locked BNB Points * Web3 Task Multiplier) + Web3 Task Rewards
* If users do not complete all assigned Web3 Tasks, the multiplier will be 1.
Details about SOLV Megadrop:
Token name: Solv Protocol (SOLV)
Maximum token supply: 9,660,000,000 SOLV (dynamic, may increase via network governance for Bitcoin Reserve Offering)
Total Genesis token supply: 8,400,000,000 SOLV (86.96% of maximum token supply)
Megadrop token rewards: 588,000,000 SOLV (7.00% of genesis token supply, 6.09% of maximum token supply)
Initial circulating supply when listed on Binance Spot: 1,482,600,000 SOLV (17.65% of genesis token supply, 15.35% of maximum token supply)
Update on locked BNB product
In preparation for future Megadrop events, Binance has updated the APR and maximum registration limits for each user. Please see the Locked BNB Products for the latest changes.
There will be limits applied to the total amount of BNB Locked Products registrations used to calculate Locked BNB Points in all Megadrop events. More details will be provided in a separate announcement.
For each Megadrop, users will receive different points for each active BNB Locked Products registration they have, based on the corresponding registration duration. The longer the duration, the higher your Locked BNB Points.
Registering BNB Locked Products will allow users to accumulate points for the Megadrop. Please note that assets from BNB Flexible Products do not count towards the point calculation for Megadrop events.
Users participating in the Megadrop by locking their BNB with Locked Products will also receive Launchpool rewards and HODLer Airdrops simultaneously. Users are not required to manually swap their BNB assets from Locked BNB Products to participate in Launchpool or HODLer Airdrops.
Users can refer to the Megadrop FAQ and BNB Lock Products for more information.
Note:
External wallets imported into Binance Wallet will not be counted.
Only wallets backed and created in Binance Wallet can participate in Megadrop.
Users can visit the Megadrop project page (this will be included in the second announcement) to check whether the task has been successfully completed.
Megadrop rewards will be airdropped to users' Binance Spot wallets
Summary
Solv Protocol (SOLV) is a Bitcoin yield project that allows users to earn additional profits while holding BTC through staking. You can refer to the participation process in the Megadrop and how to receive Airdrop at Binance. All new projects should take time to understand and research. Trading Insight will provide comprehensive information and knowledge to give you a better perspective on the current and future market. Don't forget to follow and interact with Trading Insight!