December is the season for various airdrops. Solv has officially released a TGE tweet. How much is this "on-chain micro-strategy" airdrop worth? In this article, I have collected detailed data and will analyze the points redemption price. Will you get rich from this wave of Solv airdrops?
Micro strategy is to issue convertible bonds to raise funds, and then buy Bitcoin to boost the stock price. After the stock price is boosted, it continues to raise funds and buy more Bitcoin, a positive flywheel
Solv is a platform where users deposit Bitcoin to earn airdrops. After the token is issued, they buy Bitcoin and continue to deposit it. TVL soars along with Bitcoin, and the price of airdropped tokens is higher, spiraling upwards.
🚀As expected
Which projects will be favored by exchanges through TGE? Actually, there are two reasons: the leading companies in the field and the hot coins with huge traffic.
The core demands of exchanges: first, new users, second, users bring in new funds; the second point is the most important
Solv’s locked-up volume has soared to 3.16 billion U.S. dollars today, making it a well-deserved leader in the Bitcoin financial ecosystem. The users in the front row are all big whales, and they are all core users that CEX exchanges are competing for.
🔸So I am optimistic about Solv's listing. If it can be listed on a top exchange, the abundant liquidity will greatly increase FDV.
🌈Airdrop Token Contract
The on-chain data displayed by coingecko shows that the Solv contract was deployed on the ETH mainnet on September 24, with a total of 8.4 billion tokens.
https://www.coingecko.com/en/coins/solv-protocol
The contract address is as follows
https://etherscan.io/token/0x04830a96a23ea718faa695a5aae74695aae3a23f
🔸Two important information: The airdrop will be collected on the ETH mainnet, with a total of 8.4 billion
(I suspect that most of the total supply of tokens may be burned, and the final total supply will be 2.1 billion, a tribute to BTC)
🔰Valuation comparison
In the Bitcoin financial track, I selected two representative projects that have issued coins: Merlin and BounceBit as references
Merlin Chain Bitcoin Layer 2 network (not listed on Binance), TVL 167 million, FDV 830 million
BounceBit Bitcoin re-staking infrastructure (listed on Binance), TVL 310 million, FDV 840 million
Currently, Solv is the leader in Bitcoin finance, with a TVL of 3.16 billion, which is 19 times and 10 times that of the above two.
🔸FDV We conservatively estimate that it is twice the above two, isn’t it too much? That is 1.6 billion, the price of the coin is 0.76/coin (2.1 billion coins)
🎯Points airdrop value
Solv points do not have a pre-market price feed, and the official has not announced the total number of points. Based on the discussion and consensus of the solv community, I calculated a price for your reference.
Total points guess:
In August, the official closed the points ranking list, which had 500 billion points at the time;
Currently, 50 BTC are deposited, generating 100 million points per day;
Total blind guess points: 4 trillion
🔸Based on 1.6 billion FDV, 10% airdrop, and 4 trillion points in total, average distribution, 40 USD per 1 million points
🔹If the distribution is not even, the team will coordinate with the big investors to give up part of their profits and tilt the rewards towards small and medium retail investors. Then the small retail investors will have a maximum increase of 50% in airdrop income, 60 US dollars for every 1 million points
✅Summary
@SolvProtocol
It is the leader in the Bitcoin financial sector, with a locked-in amount of US$3.16 billion, making it the undisputed king of Defi.
🔸My rough estimate: 2.1 billion tokens, 1.6 billion FDV, 0.76/coin, 40-60 USD per 1 million points
Users generally have 50,000 to 60,000 BTC in deposit. If we issue more coins during this airdrop, we can get both. Can everyone be happy?
Looking forward to a bumper year together
End of article
