Binance has announced the third project on its Megadrop platform, Solv Protocol and its token (SOLV), a new Bitcoin staking protocol that aims to build a financial system centered around Bitcoin.
Details of the start time of trading the new currency on the Binance platform will be announced later, and any claims of trading this currency before the specified time are false advertisements.
SOLV Coin Distribution Details:
Project name and currency: Solv Protocol (SOLV)
Max: 9,660,000,000 SOLV (increasable via network governance).
Initial supply at launch: 8,400,000,000 SOLV (86.96% of total supply).
Binance Rewards: 588,000,000 SOLV (7% of the initial supply).
Circulating supply at spot listing: 1,482,600,000 SOLV (17.65% of initial supply).
What is Megadrop platform?
Megadrop is a platform for launching new cryptocurrencies on the Binance platform. The platform offers a unique experience by combining the Binance Simple Earn protocol and the Binance Wallet.
The platform gives users an early opportunity to explore Web 3 projects before they are listed on the platform.
How to participate in Megadrop:
Log in to your Binance account.
Subscribe to BNB Locked products via Simple Earn or complete required tasks in Web3 Quests.
Head to the “Megadrop” section on the Binance app and complete tasks to earn points.
Receive Megadrop rewards based on your total points.
Megadrop Rewards Distribution Mechanism:
Rewards are awarded based on the ratio of the user's total points to the total points of all eligible participants.
point system:
Locked BNB Points: Points are calculated based on the amount of BNB staked and the subscription period, longer subscription periods give higher points.
Web3 Quests Bonuses & Multipliers: Users get additional rewards upon completing specific quests as per the requirements.
The total points are calculated as follows:
Total Points = (Locked BNB Points x Web3 Quest Multiplier) + Web3 Quest Bonus
Important Notes:
A research report on the Solv Protocol project will be available for review on Binance within 24 hours of this announcement.
The services and products described may not be available in some areas.
It is advisable to conduct the necessary research to ensure the safety of financial assets.
SOLV #