On January 17th, Binance plans to add Solv Protocol’s native token, SOLV, to their listing following an airdrop of the token on their Megadrop platform.
On January 6th, Binance disclosed that it will start trading SOLV, the native token associated with Solv Protocol (SOLV), on January 17th at 10:00 UTC. This will include trading options with USDT, BNB, FDUSD, and TRY as pairings.
When the tokens are counted, there will be approximately 1.48 billion SOLV tokens in circulation. This amounts to around 17.65% of the initial token issuance (8.4 billion SOLV), and about 15.35% of the total possible supply (9.66 billion SOLV).
On December 30th, the platform initially disclosed its intention to make SOLV available for trading. This would mark the first exchange to carry the token. Additionally, they cautioned that any platform claiming to list or distribute SOLV tokens prior to the official release schedule is participating in misleading advertising.
Prior to the public listing of Binance on a worldwide exchange, an airdrop event will take place on January 7th at midnight UTC through Binance Megadrop – Binance’s token release platform which combines features from Binance Simple Earn and Binance Wallet.
As a researcher, I’m involved in facilitating exclusive preliminary exposure to a chosen array of Web3 ventures. This enables users to immerse themselves in captivating activities, thereby accruing points. These points can subsequently be exchanged for token airdrops, granting users access to these tokens before they become publicly available on Binance.
In the context of the Megadrop incentive, a total of 588 million SOLV tokens will be allocated to qualified Binance users. This distribution will continue until January 16th, with the token listing taking place the following day.
In the Megadrop program, individuals can accumulate rewards by either subscribing to BNB Locked Products or engaging in tasks (referred to as ‘quests’) on Solv Protocol. These activities earn points that ultimately decide the distribution of rewards. Binance advises users to satisfy both conditions for maximum rewards.
Introduced in 2020, Solv Protocol serves as a Bitcoin staking platform, aiming to establish a financially vibrant ecosystem centered around Bitcoin. By providing staking options for Bitcoin owners, whose total market value is swiftly nearing the $2 trillion mark, it seeks to foster a native Bitcoin financial system.
The project received investment from Binance Labs, along with other well-known venture capital companies such as Nomura’s Laser Digital, Blockchain Capital, and OKX Ventures, during a $11 million strategic funding round that took place in October of the previous year.
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2025-01-06 16:02