Binance Web3 Wallet is collaborating with Solv Protocol to distribute an exclusive 150,000 SOLV airdrop.
To participate, you’ll need to stake and lock a minimum of 0.0001 BTCB for SolvBTC on the BNB Chain via Solv Protocol between 2024-06-04 06:00 (UTC) and 2024-06-17 23:59 (UTC).
1. Create a Binance Web3 Wallet
You may skip these steps if you already have a backed-up Binance Web3 Wallet. Find out more about Binance Web3 Wallet here.
1. Download the Binance app and ensure it’s in the latest version. Register for a Binance account and complete identity verification.
2. Tap [Wallets] and go to the [Web3] tab.
3. Follow the instructions to create your Binance Web3 Wallet. Please note that you must back up your Web3 Wallet before moving on to the next step.
2. Deposit BTCB and BNB in your Binance Web3 Wallet
You’ll need to have at least 0.0001 BTCB on the BSC network in your Web3 Wallet before proceeding. Please note that you also must have some BNB to cover the gas fees.
1. Select the [Web3] tab and tap [Receive].
2. Select BTCB as the asset.
3. Tap [Transfer] to transfer BTC with BNB Smart Chain (BEP20) from your Spot Wallet to receive BTCB in your Web3 Wallet.
Please note that you’ll need at least 0.0001 BTCB to proceed with the task.
4. Make sure you have some BNB tokens worth $2-3 to cover the gas fees. You can tap [Transfer] to transfer BNB from your Spot Wallet to your Web3 Wallet.
For more details, please refer to How to Send and Receive Tokens on Binance Web3 Wallet?.
3. Join the campaign
1. On your Web3 Wallet homepage, go to [Discover] - [Airdrops]. Tap [Join Now] under the Solv campaign banner.
2. Tap into the campaign landing page and tap [Stake Now].
3. Tap [SolvBTC] - [Connect Wallet] to connect your Binance Web3 Wallet.
4. Switch to [BNB Chain], enter the amount of BTCB to stake. Please note that you need to stake a minimum of 0.0001 BTCB. Tap [Approve].
5. Tap [Stake] and confirm the transaction on your Binance Web3 Wallet.
6. You’ve successfully staked your BTCB.
7. You can check the staking records from [Portfolio].
When and how can I unstake my BTCB and receive SolvBTC?
The initial redemption period for campaign participants will commence in July. For the specific dates, please refer to the official announcement from Solv Protocol.
Frequently Asked Questions
1. What is the exchange rate between BTCB and SolvBTC?
1.00 BTCB is equal to 1.00 SolvBTC.
2. How and when can I unlock my SolvBTC?
The initial redemption period for campaign participants will commence in July. For the specific dates, please refer to the official announcement from Solv Protocol.
3. When can I receive my rewards?
50% of tokens will be unlocked during the token generation event (TGE), while the remaining 50% will be distributed to users after 3 months.
4. Why are the rewards being distributed in two batches?
Typically, token rewards are split into two to better incentivize and protect the participating users. Unlocking 50% of the tokens at the TGE allows users to immediately receive benefits and aim to boost participation. Distributing the remaining 50% after 3 months encourages users to hold and continue engaging with the project in the long-term to support the stable development of the project.
5. When is the TGE going to happen?
Solv Protocol hasn’t announced the final date for the TGE yet. As this is a critical milestone for the project, the team is carefully evaluating the optimal timing to ensure a successful token launch that aligns with the broader development roadmap.
6. Can I withdraw my BTCB after the TGE, or I have to lock them until the second distribution round ends?
You can withdraw your BTCB before the TGE when the initial redemption period for this campaign commences.