Solv Protocol (SOLV) on Binance Megadrop! Stake BNB and Complete Web3 Tasks to Get Free Distribution
2024-12-30 13:22
Important: Binance will be the first exchange to list the token mentioned here. The trading start time will be announced in a separate announcement. Any claims that this token will be offered for sale before the specified timeline are false advertising. Please do your own research to ensure the safety of your funds.
This is a general announcement. The products and services mentioned here may not be available in your area.
Dear Binance members,
Binance is pleased to announce the third project on Binance Megadrop - Solv Protocol (SOLV), a Bitcoin storage protocol that is building a Bitcoin-focused financial ecosystem. Megadrop’s amount, Web3 missions, and detailed listing plan will be announced in a separate announcement soon.
SOLV Megadrop Details:
Token Name: Solv Protocol (SOLV)
Maximum token supply: 9,660,000,000 SOLV (dynamic pool, may increase via network governance of Bitcoin reserve offerings)
Total Genesis token supply: 8,400,000,000 SOLV (86.96% of the maximum token supply)
Megadrop Token Rewards: 588,000,000 SOLV (7.00% of Genesis token supply, 6.09% of max token supply)
Initial stock available for trading upon listing on Binance Spot Market: 1,482,600,000 SOLV (17.65% of Genesis token supply, 15.35% of maximum token supply)
Research Report: Solv Protocol (SOLV) (will be available within 24 hours of this announcement)
What is Binance Megadrop:
Binance Megadrop is a new token launch platform that seamlessly combines Binance Simple Earn and Binance Wallet, reinventing the concept of free dropshipping. The platform gives users early access to a select group of Web3 projects before they are officially listed on Binance.
This unique combination of engagement, education, and rewards makes Megadrop an unparalleled interactive experience within both Binance and the broader crypto ecosystem.
How to get started with Binance Megadrop:
Log in to your Binance account.
Subscribe to reserved BNB products and/or complete Web3 tasks to earn points. To complete Web3 tasks, make sure you have at least one active Binance wallet. Create a Binance account and create your first Web3 wallet now if you haven’t already.
Complete subscriptions for BNB products reserved on the Simple Earn platform to earn points.
Go to Megadrop on the Binance app (to be announced in a later announcement) and complete all the Web3 tasks to earn points and get double points transactions.
Earn Megadrop rewards based on your total points.
Megadrop mechanism by points:
Megadrop rewards for each eligible user will be based on the user's total points relative to the total points of all eligible users.
point system:
BNB Points Reserved: Users will earn points based on the amount of BNB subscribed and the subscription period. The longer the subscription period, the more points you will earn. This number of points may fluctuate based on average daily balances.
Web3 Task Reward* and Web3 Task Multiplier: Users will receive a Web3 Task Reward and Web3 Task Multiplier when they complete all assigned Web3 Tasks with the specified minimum requirements.
The system will calculate the total points of users by applying the Web3 task multiplier factor to the total points of the BNB staked and then adding it to the Web3 task reward.
Total Points = (BNB Points Locked * Web3 Task Multiplier) + Web3 Task Reward
* If users do not complete the assigned Web3 tasks, the multiplier will be 1.
Users can refer to the FAQ for more details.
Update on BNB Reserved Products
In anticipation of future Megadrop events, Binance has updated the annual percentage rates and subscription caps per user. Please check your BNB Reserved Products for the latest changes.
A cap will be applied to the total subscription amount of reserved BNB products used in reserved BNB accounts at all Megadrop events. More details will be provided in a separate announcement.
For each Megadrop, users will receive different points for each active subscription they hold on locked BNB products, depending on the duration of the relevant subscription period. The longer the duration, the more locked BNB points.
Subscribing to reserved BNB products will allow users to earn more points for Megadrop. Please note that BNB treasury assets will not count towards points calculations for Megadrop events.
Users who participate in Megadrop by staking their BNB in reserved products will receive both the launch pool rewards and the holder distributions at the same time. Users do not need to manually redeem their BNB from the reserved BNB products to participate in the launch pools or holder distributions.
Users can refer to the Megadrop and BNB Locked Products FAQ for more information.
comments:
External wallets imported to Binance Wallet. Will not be counted.
Only backup wallets created within Binance Wallet can participate in Megadrop.
Users can go to the Megadrop project page (the page will be available in the second announcement) to verify that the task has been completed successfully.
Megadrop rewards will be distributed to users' spot wallets on Binance.
SOLV Legitimate Relationships:
Website
Technical Guide
X
Medium
More information:
What is Binance Megadrop?
What is Binance Wallet and how does it work?
How to Backup Your Binance Wallet
Terms and Conditions:
Only users who complete identity verification and have at least one active Binance wallet can qualify for Megadrop rewards.
Users' subscribed balances on the reserved BNB products will be recorded multiple times at any time of every hour to obtain the average hourly subscription balances of BNB and calculate the user rewards. User rewards will be updated daily.
Users need to be located in an eligible jurisdiction to participate in the SOLV Megadrop. Users residing in the following countries or regions are currently not eligible to participate by subscribing to BNB Reserved Products or completing Web3 Tasks:
For participants in Simple Earn products reserved for BNB tokens: Australia, Canada, Cuba, Crimea, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Syria, United Kingdom, United States of America and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, US Virgin Islands), and any non-government controlled areas of Ukraine.
For Web3 Task Participants: Australia, Brazil, Canada, Cuba, Crimea, Cyprus, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Syria, the United States of America and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, and US Virgin Islands), and any non-government controlled areas of Ukraine.
Please note that the list of excluded countries listed here is not exhaustive and is subject to change due to evolving local rules or regulations, and other considerations. This list may be updated periodically to accommodate legal or regulatory changes, and other factors.
Binance may impose maximum limits on the amount of tokens offered as rewards at its sole and absolute discretion.
Please refer to the Binance Simple Earn Terms of Use before using BNB staked products on the Binance Simple Earn platform. Users can also refer to the Frequently Asked Questions about Simple Earn staked products for more information.
There may be a discrepancy between the translated version and the original English article. In this case, please refer to the original version for the most current or accurate information on the areas in which any discrepancy arises.
Thank you for your support!
Binance Team
2024-12-30
Trade wherever you are with the Binance cryptocurrency trading app (iOS/Android)
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Binance reserves the right at its sole discretion to modify or cancel this announcement at any time and for any reason without prior notice.
Disclaimer: Cryptocurrency prices can be volatile. The value of your investment may go up or down and you may not be able to get back your invested amount. You are solely responsible for your investment decisions and Binance will not be liable for any losses you may incur. Binance reserves the right to choose specific markets and jurisdictions to conduct Megadrop and may block or refuse participation in Megadrop in some regions at its sole discretion. Binance does not guarantee any specific reward, or any returns over time. Your eligibility to receive tokens or participate in Megadrop is at our sole discretion. This is not financial advice. For more information, see our Terms of Use and Risk Warning. You may be subject to the Simple Earn Terms and Binance Web3 Wallet Terms.
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