Binance, one of the largest cryptocurrency exchange platforms in the world, has announced the launch of Solv Protocol (SOLV) in its Megadrop program. This Bitcoin staking protocol creates a financial ecosystem centered around Bitcoin and offers a new way to earn cryptocurrency rewards.
According to the announcement, the details of the SOLV Megadrop include:
Token name: Solv Protocol (SOLV)
Maximum token supply: 9,660,000,000 SOLV (dynamic, may increase through network governance for the Bitcoin reserve supply)
Total Genesis token supply: 8,400,000,000 SOLV (86.96% of the maximum token supply)
Megadrop token rewards: 588,000,000 SOLV (7.00% of the genesis token supply, 6.09% of the maximum token supply)
Initial circulating supply when included in Binance Spot: 1,482,600,000 SOLV (17.65% of the genesis token supply, 15.35% of the maximum token supply)
Binance users will be able to participate in the SOLV Megadrop program by locking their BNB and completing Web3 missions to earn an airdrop. Additional details about the Megadrop program and the inclusion plan for SOLV will be announced in a separate statement.
What is Binance Megadrop?
Binance Megadrop is a token launch platform that combines Binance Simple Earn and Binance Wallet. It offers users early access to selected Web3 projects before they are listed on Binance. How to use Binance Megadrop:
Log in to your Binance account.
Subscribe to locked BNB products and/or complete Web3 missions.
Complete subscriptions to locked BNB products in Simple Earn.
Access Megadrop in the Binance app and complete designated Web3 missions.
Scoring mechanism:
The Megadrop reward is based on the user's total score.
The score is calculated based on the amount of BNB subscribed and the duration of the subscription period.
Users can also receive a Web3 Quest bonus and a Web3 Quest multiplier by completing designated Web3 missions.