Binance has introduced Solv Protocol (SOLV) because the third undertaking on its Binance Megadrop platform. Solv Protocol, a Bitcoin staking protocol centered on constructing a Bitcoin-centric monetary ecosystem, provides customers the chance to take part within the SOLV Megadrop ranging from January 7, 2025, at 00:00 UTC. The Megadrop web page is predicted to be accessible on the Binance App roughly 12 hours earlier than the occasion begins.
Following the Megadrop interval, Binance will record Solv Protocol (SOLV) on January 17, 2025, at 10:00 UTC, introducing buying and selling pairs together with SOLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY. The seed tag shall be utilized to SOLV at launch.
Key Dates and Participation Intervals
SOLV Megadrop Interval: January 7, 2025, 00:00 UTC – January 16, 2025, 23:59 UTC
BNB Locked Merchandise Snapshot Interval: Contributors can start locking BNB previous to January 7, 2025, to maximise their Locked BNB Scores, with hourly snapshots of BNB subscriptions taken all through the interval. Additional particulars can be found within the FAQ.
Web3 Quest Interval: Customers can full designated Web3 Quests to spice up their rating.
Web3 Quest Particulars
Quest 1: Stake 0.0001 BTCB on Solv Protocol (accessible from January 17, 2025, at 06:00 UTC).
Tutorial
Contributors will obtain Megadrop rewards of their Binance Spot Account.
SOLV Tokenomics
Token Identify: Solv Protocol (SOLV)
Most Token Provide: 9,660,000,000 SOLV (topic to extend by way of community governance for Bitcoin Reserve Providing)
Genesis Token Provide: 8,400,000,000 SOLV (86.96% of max provide)
Megadrop Token Rewards: 588,000,000 SOLV (7.00% of genesis provide, 6.09% of max provide)
Preliminary Circulating Provide on Binance: 1,482,600,000 SOLV (17.65% of genesis provide, 15.35% of max provide)
Participation Necessities and Rewards Calculation
Participation within the SOLV Megadrop requires KYC verification in eligible jurisdictions. Every consumer has a tough cap of 4,704,000 SOLV.
Complete Rating Method:
Complete Rating = (Locked BNB Rating * Web3 Quest Multiplier) + Web3 Quest Bonus
Locked BNB Rating (primarily based on hourly snapshots in the course of the BNB Locked Merchandise Snapshot Interval) = (Common 120-day BNB Locked Quantity * 130) + (Common 90-day BNB Locked Quantity * 120) + (Common 60-day BNB Locked Quantity * 110) + (Common 30-day BNB Locked Quantity * 100) + (Common DeFi BNB Belongings Quantity * 30)
The Web3 Quest Multiplier is 1.5, and the Web3 Quest Bonus is 500.
Learn how to Take part
Log right into a Binance account.
Subscribe to BNB Locked Merchandise or full designated Web3 Quests by way of the Megadrop web page on the Binance App.
Guarantee no less than one energetic Binance Pockets is linked for quest completion.
After finishing the Web3 Quests, click on the [Verify] button on the Megadrop undertaking web page earlier than the Quest Interval ends to assert the Web3 Quest Bonus and Multiplier.
Megadrop rewards shall be distributed primarily based on the overall rating.
Additional particulars, together with the analysis report for Solv Protocol (SOLV), can be found on the Binance platform.
