According to Deep Tide TechFlow news, on January 4, Ryan Chow, co-founder of the BTCFi project Solv Protocol, expressed that, 'After experiencing a whole day of baseless public opinion attacks regarding '1,800 RUG' and 'private agreements' yesterday, today Solv has suffered even more absurd accusations. These accusations invariably target the core asset security issues, but their basis is erroneous and self-contradictory, attempting to mislead the public by confusing the facts. In response, we have decided to respond directly and shatter these false statements with facts.'
In response to the accusation by Nubit co-founder Hans regarding the misappropriation of the underlying BTC of SolvBTC.BBN, Chow pointed out that the mempool transaction cited by the other party is actually a routine operation of SolvBTC.CORE. According to the project mechanism, SolvBTC.CORE needs to re-stake BTC to a new script address every half month. The last staking occurred on December 19, and the extraction and re-staking took place on January 2, which is also the reason for updating the address to DeFiLlama.
In addition, regarding the doubts about the decline in TVL of SolvBTC.BBN during the Babylon Cap3 period, Chow stated that this is due to the project initiating a normal redemption mechanism, which precisely reflects the liquidity and flexibility of the product. At the same time, he also refuted market speculation about the 'BTC three flowers', that is, the claim that the same BTC is counted three times in the TVL.
Chow emphasized that as a project that has been deeply engaged for four years, Solv is facing such meticulously planned attacks during the sensitive period of the upcoming TGE (Token Generation Event), and has provided ample on-chain evidence and technical documentation to support its position, inviting the market and users to make their own judgments.