Binance has announced Solv Protocol (SOLV) as the third project on its Binance Megadrop platform. Solv Protocol, a Bitcoin staking protocol focused on building a Bitcoin-centric financial ecosystem, offers users the opportunity to participate in the SOLV Megadrop starting from January 7, 2025, at 00:00 UTC. The Megadrop page is expected to be available on the Binance App approximately 12 hours before the event begins.
Following the Megadrop period, Binance will list Solv Protocol (SOLV) on January 17, 2025, at 10:00 UTC, introducing trading pairs including SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY. The seed tag will be applied to SOLV at launch.
Key Dates and Participation Periods
- SOLV Megadrop Period: January 7, 2025, 00:00 UTC – January 16, 2025, 23:59 UTC
- BNB Locked Products Snapshot Period: Participants can begin locking BNB prior to January 7, 2025, to maximize their Locked BNB Scores, with hourly snapshots of BNB subscriptions taken throughout the period. Further details are available in the FAQ.
- Web3 Quest Period: Users can complete designated Web3 Quests to boost their score.
Web3 Quest Details
- Quest 1: Stake 0.0001 BTCB on Solv Protocol (available from January 17, 2025, at 06:00 UTC).
- Tutorial
Participants will receive Megadrop rewards in their Binance Spot Account.
SOLV Tokenomics
- Token Name: Solv Protocol (SOLV)
- Maximum Token Supply: 9,660,000,000 SOLV (subject to increase via network governance for Bitcoin Reserve Offering)
- Genesis Token Supply: 8,400,000,000 SOLV (86.96% of max supply)
- Megadrop Token Rewards: 588,000,000 SOLV (7.00% of genesis supply, 6.09% of max supply)
- Initial Circulating Supply on Binance: 1,482,600,000 SOLV (17.65% of genesis supply, 15.35% of max supply)
Participation Requirements and Rewards Calculation
Participation in the SOLV Megadrop requires KYC verification in eligible jurisdictions. Each user has a hard cap of 4,704,000 SOLV.
Total Score Formula:
Total Score = (Locked BNB Score * Web3 Quest Multiplier) + Web3 Quest Bonus
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Locked BNB Score (based on hourly snapshots during the BNB Locked Products Snapshot Period) = (Average 120-day BNB Locked Amount * 130) + (Average 90-day BNB Locked Amount * 120) + (Average 60-day BNB Locked Amount * 110) + (Average 30-day BNB Locked Amount * 100) + (Average DeFi BNB Assets Amount * 30)
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The Web3 Quest Multiplier is 1.5, and the Web3 Quest Bonus is 500.
How to Participate
- Log into a Binance account.
- Subscribe to BNB Locked Products or complete designated Web3 Quests via the Megadrop page on the Binance App.
- Ensure at least one active Binance Wallet is linked for quest completion.
- After completing the Web3 Quests, click the [Verify] button on the Megadrop project page before the Quest Period ends to claim the Web3 Quest Bonus and Multiplier.
- Megadrop rewards will be distributed based on the total score.
Further details, including the research report for Solv Protocol (SOLV), are available on the Binance platform.
