According to ChainCatcher, Ryan Chow, co-founder of Solv Protocol, has refuted recent allegations about asset security issues within the project, describing them as "false and self-contradictory" attempts to mislead the public. Chow emphasized that Solv Protocol will counter these accusations with facts and transparency.
Key Clarifications:
Mempool Transaction Misunderstanding:
Chow addressed claims made by Nubit co-founder Hans, explaining that the cited mempool transaction was part of SolvBTC.CORE.BTC’s standard operational process. The protocol requires BTC to be re-staked to a new address every two weeks as part of its routine mechanism.
TVL Decline in SolvBTC.BBN:
The reported drop in Total Value Locked (TVL) during Babylon Cap3 was attributed to Solv’s normal redemption mechanism, demonstrating the product's liquidity and flexibility. Chow dismissed rumours of double-counting Bitcoin, labelling them speculative and baseless.
Pre-TGE Attack Transparency:
Chow highlighted that Solv experienced an attack before its Token Generation Event (TGE) and has since provided on-chain evidence and technical documentation to validate the protocol’s integrity. He invited market participants and users to verify the evidence and independently draw conclusions.
