Important: Binance will be the first platform to list this token, and trading will be available at a later date. Any claims of selling this token before the stated timeline are false advertising. Please do your own research to ensure the safety of your funds!
This is a general announcement and the products and services mentioned here may not be available in your area.
Dear User:
Binance Megadrop has launched the third phase of the project - Solv Protocol (SOLV), a Bitcoin staking protocol that focuses on building a financial ecosystem with Bitcoin at its core. Binance will list SOLV after the Megadrop is completed. The specific listing plan will be announced separately, so stay tuned. The quota information of this Megadrop and the details of the Web3 tasks will also be announced at that time.
Project details
Token Name: Solv Protocol (SOLV)
Total token supply: 9,660,000,000 SOLV (to be increased by governance voting through the BTC reserve fundraising plan)
Total supply of genesis tokens: 8,400,000,000 SOLV (86.96% of the maximum token supply)
Megadrop token rewards: 588,000,000 SOLV (7% of the total supply of genesis tokens, 6.09% of the maximum token supply)
Initial circulating supply when listing on Binance: 1,482,600,000 SOLV (17.65% of the total supply of genesis tokens, 15.35% of the maximum token supply)
Research report: Solv Protocol (SOLV) (the report will be available within twenty-four hours of this announcement)
Introduction to Binance Megadrop:
Binance Megadrop is a brand new token issuance platform launched by Binance, designed to provide users with a better airdrop experience through seamless integration with the Binance Earn platform and Binance Wallet. Before the selected Web3 projects are listed on Binance, Megadrop users will have the opportunity for early experience.
Combining many advantages such as interaction, education, and rewards, Megadrop provides an unparalleled interactive experience for users of the Binance platform and the entire cryptocurrency ecosystem.
How to participate in Binance Megadrop:
Log in to your Binance account;
Subscribe to BNB fixed-term products and/or complete Web3 tasks to accumulate points. Please ensure that you hold at least one active Binance Wallet to complete Web3 tasks. New users can click to register a Binance account and create their first Binance Wallet;
Subscribe to BNB fixed-term products on the Earn platform to accumulate points;
Complete all specified Web3 tasks on the Megadrop page in the Binance App (the page will be provided in the second announcement) to accumulate points and gain point multipliers.
Megadrop rewards are based on final points.
Megadrop points mechanism:
The Megadrop reward for each eligible user depends on the proportion of the user's final points to the total final points of all eligible users.
Points system:
Locked BNB points: Users will accumulate points based on the number of BNB subscriptions and the duration of the subscription period for any BNB fixed-term product purchased on the Earn platform. The longer the subscription period, the higher the score. This score may fluctuate as it is based on the daily snapshot average.
Web3 task points* and Web3 task multiplier: Users who complete all specified Web3 tasks and meet the minimum task requirements will accumulate Web3 task points and receive a Web3 task multiplier;
The system will calculate the user's final points by multiplying the user’s locked BNB points by the Web3 task multiplier, and then adding the user’s Web3 task points.
User's final points = (locked BNB points * Web3 task multiplier) + Web3 task points
* If the user does not complete all specified Web3 tasks, their Web3 task multiplier will be 1.
For more details, please refer to the FAQ.
BNB fixed-term products update
To prepare for future Megadrop events, Binance has updated the interest rates for BNB fixed-term products and the maximum subscription limit for each user. Please check the BNB fixed-term products for the latest changes.
For all Megadrop events, there is a cap on the total subscription amount of BNB fixed-term products used to calculate locked BNB points. More details will be announced separately;
For each Megadrop, users can earn different scores from their locked BNB products based on the corresponding subscription period. The longer the subscription period, the higher the locked BNB points;
Users can earn more points for Megadrop by subscribing to BNB fixed-term products. Please note: Assets in BNB spot products do not count towards Megadrop activity points;
Users holding BNB fixed-term products will automatically receive new coin mining (Launchpool) rewards while participating in Megadrop, without the need to manually redeem and invest in the new coin mining pool;
For more information, please refer to the FAQ on Megadrop and BNB fixed-term products.
Note:
Wallet addresses imported from Binance Wallet will not be eligible to participate;
Only wallets created in Binance Wallet and backed up can participate;
Users can check the completion status of Web3 tasks on the Megadrop project page (the page will be provided in the second announcement);
Megadrop rewards will be airdropped to users' Binance spot wallets.
Links related to Solv Protocol (SOLV) project:
Official website
White paper
X
Medium
More reference information:
Analyzing Binance Megadrop
Binance Wallet and its workings
Why it is necessary to back up Binance Wallet and how to back it up
Terms and Conditions:
Users must complete identity verification and hold at least one active Binance Wallet to be eligible for Megadrop;
Binance will take multiple random snapshots of users' BNB fixed-term product holdings every hour to calculate the average BNB fixed-term product holdings per hour and determine Megadrop rewards. User rewards are updated daily;
Whether users can participate in the SOLV Megadrop will be subject to restrictions based on their country or region. Users from the following countries or regions cannot participate in this Megadrop by subscribing to BNB fixed-term products or completing Web3 tasks:
Users from the following countries or regions cannot participate by subscribing to BNB fixed-term products: Australia, Canada, Cuba, Crimea, Hong Kong, Iran, Japan, New Zealand, Netherlands, North Korea, Russia, Syria, the United Kingdom, the United States and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, and U.S. Virgin Islands), and any non-government-controlled areas of Ukraine;
Users from the following countries or regions cannot participate by completing Web3 tasks: Australia, Brazil, Canada, Cuba, Crimea, Cyprus, Iran, Japan, New Zealand, Netherlands, North Korea, Syria, the United States and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, and U.S. Virgin Islands), and any non-government-controlled areas of Ukraine;
The list of restricted countries or regions above is not exhaustive and may be updated as local laws, regulations, and other considerations change. The list of restricted countries or regions may be updated periodically based on changes in laws, regulations, and other factors.
Binance reserves the right to automatically determine the reward cap;
Before subscribing to BNB fixed-term products on the Earn platform, please refer to the Binance Earn Platform Terms of Use. Users can also refer to the FAQ of fixed-term products for more information;
The original English announcement and translated versions may differ. In case of any discrepancies, please refer to the English version for the most up-to-date or accurate information.
Thank you for your support of Binance!
Binance Team
December 30, 2024
Note: This announcement was updated on December 30, 2024, to clarify that assets in BNB spot products do not count towards Megadrop activity points.
