What is Solv Protocol (SOLV)?
Solv Protocol is a leading Bitcoin staking protocol dedicated to building a Bitcoin-centric financial ecosystem. Its mission is to unlock Bitcoin's full potential by transforming over $1 trillion in idle BTC into yield-generating assets and becoming the on-chain reserve for Bitcoin in decentralized finance (DeFi). Solv Protocol achieves this through innovative solutions like Staking Abstraction Layer (SAL), SolvBTC, and SolvBTC.LSTs (Liquid Staking Tokens).
Key Metrics (as of December 31, 2024):
- Token Name: SOLV- Token Type: BEP-20- Maximum Token Supply: 9,660,000,000 SOLV (dynamic, may increase via network governance for Bitcoin Reserve Offering)- Genesis Token Supply: 8,400,000,000 SOLV (86.96% of max token supply)- Initial Circulating Supply (at Binance Listing): 1,482,600,000 SOLV (17.65% of genesis token supply, 15.35% of max token supply)- Binance Megadrop Allocation: 588,000,000 SOLV (7.00% of genesis token supply, 6.09% of max token supplies
Key Highlights of Solv Protocol
1. Staking Abstraction Layer (SAL):
- Abstracts the complexities of Bitcoin staking across multiple ecosystems.
- Provides a unified interface for Bitcoin holders to earn yields across various blockchains.
2. Non-Custodial Mechanism:
- Manages user assets through decentralized processes.
- Uses smart contracts, Bitcoin scripts, and third-party verifiers to ensure transparency and security.
3. Bitcoin Reserve Offerings (BROs):
- Plans to conduct three BROs in 2025, minting 42 million SOLV tokens per round.
- Convertible notes mature in one year with SOLV claimable in Q1, Q2, and Q3 of 2026.
- DAO governance will oversee future offerings, and the token supply may adjust accordingly.
4. Innovative Products:
- SolvBTC: A 1:1 BTC-pegged token enabling seamless cross-chain transfers and Bitcoin participation in DeFi.- SolvBTC.LSTs: Liquid Staking Tokens that allow users to earn yields while retaining liquidity.- Includes product lines like SolvBTC.BBN, SolvBTC.JUP, SolvBTC.CORE, and SolvBTC.ENA.- SolvBTC DeFi Vaults: Simplifies user interaction with LSTs and DEXes, minimizing on-chain transaction complexities.
Token Allocation (Genesis Supply):
- The project raised ~$24 million across four private token sales:
- ~$1M at a ~$20M valuation.
- ~$4.5M at a ~$45M valuation.
- ~$6.6M at an ~$80M valuation.
- ~$11.7M at a ~$200M valuation.
- 28.86% of the genesis supply was sold in private rounds.
2 . Token Sales and Economic
2.1 Token Distribution
Token Allocation (od max supply as at December 31 , 2024)
2.2 Token Release Schedule (of Max supply as at December 31, 2024)
Technical Details:
The core infrastructure of Solv Protocol is the Staking Abstraction Layer (SAL):- Staking Abstraction Matrix (SAM): Consolidates data models for Bitcoin staking, including script configurations and yield distribution.- LST Issuance Services: Ensures secure issuance and redemption of BTC LSTs, matching LSTs to the exact amount of BTC staked.- Staking Verification Services: Verifies correctness of staking transactions.- Transaction Building Services: Creates optimized staking transactions and manages fee/timing estimates.- Yield Distribution Services: Calculates and distributes yields to users either through LST pricing or direct airdrops.
Solv Protocol on Binance Megadrop:
- Megadrop Period: January 7–16, 2025.- BNB Locked Products Snapshot Period: Starts before January 7, 2025.- Initial Listing on Binance: January 17, 2025, with trading pairs SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY.- Megadrop Rewards: 588,000,000 SOLV distributed based on Locked BNB Scores and Web3 Quests.
- Participation Steps:
1. Subscribe to BNB Locked Products or complete Web3 Quests.2. Accumulate Total Scores via Locked BNB and Quest bonuses.3. Claim rewards upon completion.
Conclusion:
Solv Protocol is revolutionizing Bitcoin staking by providing secure, decentralized solutions to unlock the untapped potential of idle BTC. Its innovative products, non-custodial approach, and integration with Binance Megadrop make it a cornerstone of the evolving Bitcoin-centric financial ecosystem.
#SOLV #BinanceMegadrop