The Solv Protocol (SOLV) Megadrop is now open: Subscribe to BNB fixed products or complete Web3 tasks to participate!
Important Reminder: Binance will be the first platform to list this token. Any claims of selling this token before the specified timeline are false advertisements. 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 region.
Dear Users:
Binance launches the third phase of the Megadrop project - Solv Protocol (SOLV), a Bitcoin staking protocol focused on building a financial ecosystem centered around Bitcoin. Users can participate in the SOLV Megadrop starting from January 7, 2025, 08:00:00 (UTC+8). The Solv Protocol (SOLV) Megadrop App page is expected to be launched approximately twelve hours after this announcement.
Binance will list Solv Protocol (SOLV) on January 17, 2025, at 18:00 (UTC+8), and will open trading pairs SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY, applicable to seed tagging trading rules.
During the SOLV Megadrop:
From January 7, 2025, 08:00:00 (UTC+8) to January 17, 2025, 07:59:59 (UTC+8)
BNB Fixed Product Snapshot Period:
During this period, Binance will take multiple random snapshots of users' BNB fixed product holdings every hour. To maximize BNB fixed scores, users can start subscribing to BNB fixed products before January 7, 2025, 08:00:00 (UTC+8). For more information on BNB fixed products, please refer to the FAQ.
Web3 Task Period:
Users must complete Web3 tasks during this period.
Web3 Task 1: 'Stake 0.0001 BTCB on Solv Protocol' (Staking Tutorial)
January 17, 2025, 14:00:00 (UTC+8)
Reward Distribution Time: Users can check their Megadrop rewards in the Binance spot wallet.
SOLV Megadrop Details:
Token Name: Solv Protocol (SOLV)
Maximum Token Supply: 9,660,000,000 SOLV (to be increased through governance voting based on BTC reserve fundraising plans)
Genesis Token Total Supply: 8,400,000,000 SOLV (86.96% of the maximum token supply)
Megadrop Token Rewards: 588,000,000 SOLV (7% of the total genesis token supply, 6.09% of the maximum token supply)
Initial Circulation When Listing on Binance: 1,482,600,000 SOLV (17.65% of the total genesis token supply, 15.35% of the maximum token supply)
Research Report: Solv Protocol (SOLV)
User Participation Eligibility: Complete Identity Verification (KYC) and be in a qualifying jurisdiction
Individual User Reward Cap: 4,704,000 SOLV
Reward Calculation: User Final Points = (Locked BNB Points * Web3 Task Multiplier) + Web3 Task Points
Locked BNB Points (based on hourly snapshots during the BNB fixed product snapshot period) = (120-day average locked BNB amount * 130) + (90-day average locked BNB amount * 120) + (60-day average locked BNB amount * 110) + (30-day average locked BNB amount * 100) + (average DeFi BNB asset amount * 30)
Web3 Task Multiplier: 1.5
Web3 Task Points: 500
How to Participate in Binance Megadrop*:
Log in to your Binance account;
Subscribe to BNB fixed products and/or complete all designated Web3 tasks through the Binance App to accumulate points. Please ensure you have at least one active Binance wallet to complete Web3 tasks. New users can click to register a Binance account and create your first Binance wallet;
After completing all designated Web3 tasks, click the 【Verify】 button on the Megadrop page before the task period ends to successfully receive Web3 task points and Web3 task multipliers;
Based on final points, receive Megadrop rewards.
*Note:
External wallet addresses imported into the Binance wallet will not be able to participate. Only MPC wallets created in the Binance wallet can participate in the Megadrop event;
About BNB Fixed Products
When calculating locked BNB points, the '30 Days' multiplier will apply to all BNB fixed products with subscription periods of less than 30 days (e.g., 15 days);
Based on the subscription period, users can earn different scores from locked BNB products. The longer the subscription period, the higher the locked BNB points. Please refer to the BNB fixed product page for the latest annualized interest rates and maximum subscription limits;
Users holding BNB fixed products will automatically receive new token mining (Launchpool) rewards while participating in the Megadrop, without needing to manually redeem and invest in the new token mining pool;
BNB Flexible Product Assets will not count towards Megadrop points.