According to Shenchao TechFlow news, on January 4, Ryan Chow, co-founder of the BTCFi project Solv Protocol, stated, 'After experiencing a whole day of baseless public opinion attacks such as '1,800 RUG' and 'private agreements' yesterday, today Solv has faced even more absurd accusations. These accusations invariably target the most core asset security issues, but their basis is erroneous and contradictory, attempting to mislead the public through confusion. In response, we have decided to respond directly and use facts to shatter these false statements.'
Regarding the accusation by Nubit co-founder Hans about 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, with the last stake occurring on December 19, and extraction and re-staking taking place on January 2. This is also the reason for updating the address to DeFiLlama.
In addition, in response to the doubts about the decline in TVL of SolvBTC.BBN during Babylon Cap3, 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,' which claims that the same BTC is counted three times in TVL.
Chow emphasized that as a project deeply engaged for four years, Solv is encountering such meticulously planned attacks during the sensitive period before the TGE (Token Generation Event), and has provided ample on-chain evidence and technical documentation support, inviting the market and users to make their own judgments.