Binance Megadrop Announces 3rd Project – Solv Protocol (SOLV)

Key Points

• Binance will be the 1st platform to list SOLV.
• Solv Protocol is a Bitcoin staking protocol that builds a BTC-centric financial ecosystem.

Binance, the most important crypto exchange in the world, just announced its third project on the Binance Megadrop platform – Solv Protocol (SOLV). This is a Bitcoin staking protocol that builds a BTC-centric financial ecosystem.

SOLV Megadrop Details

• The maximum token supply is 9,66 billion SOLV – the supply is dynamic, meaning that it could increase via network governance for Bitcoin Reserve Offering.
• The total Genesis token supply is 8,4 billion SOLV, representing almost 87% of the maximum token supply.
• The Megadrop token rewards are 588 million SOLV tokens or 7% of the Genesis token supply/a little over 6% of the maximum token supply.
• The initial circulating supply when listed on Binance Spot will be 1,482,600,000 SOLV tokens or over 17% of the Genesis token supply/over 15% of the maximum token supply.

In its official announcement, Binance revealed that more details about the Megadrop amount, Web3 quests, and detailed listing plan will be announced separately.

It’s important to note that Binance will be the first exchange that will list SOLV.

What is Binance Megadrop?

Binance Megadrop is the exchange’s token launch platform that features airdrops and Web3 quests. The platform is an ecosystem enhancer that allows participants to explore, engage, and earn from next-gen blockchain projects.

On the platform, users can subscribe BNB tokens to Locked Products and/or complete tasks in their Web3 Wallet to get early access to rewards from selected Web3 projects before the tokens are listed in the exchange.

To get started with Binance Megadrop, users must first log in to their account, or create one here.

The first two Megadrop projects were BounceBit and Lista.

What is Solv Protocol (SOLV)?

According to the project’s official website, Solve Protocol is a leading Bitcoin staking platform powered by Staking Abstraction Layer.

SAL: A Massive Opportunity for Bitcoin 

On October 14, Solv Protocol announced via X $25 million in total fundraising to pave the way for mass adoption of Bitcoin staking, powered by the recently launched SAL (Staking Abstraction Layer).

Solv Protocol’s Staking Abstraction Layer is a unified standard for Bitcoin staking. Users can standardize and enhance interoperability in the Bitcoin staking ecosystem, enabling accessibility for all participants.

The team behind the project mentioned on X that despite its trillion-dollar market cap, Bitcoin faces important challenges including:

• Lack of native yield
• Fragmented liquidity in DeFi
• Limited integrations with Core DeFi Primitives

SAL eliminates the barriers in Bitcoin staking, simplifying and unifying the staking experience across multiple blockchains.

In collaboration with BNB Chain, Ceffu, and Chainlink, SAL allows BTC holders to stake seamlessly across protocols, addressing BTC’s limited programmability, and opening up new opportunities.

A Seamless Bitcoin Staking Experience

Users can enjoy a seamless Bitcoin staking experience with:

1. SolvBTC.BBN (yield-bearing token that represents staked SolvBTC and all future Babylon staking rewards and Solv Points)
2. SolvBTC.ENA (liquid yield token that integrates with various DeFi protocols)
3. SolvBTC.Core (a liquid staking token that enables Bitcoin holders to stake their coins on the Core Network and earn returns)

Today, December 30, Solv Protocol announced a “Meet the Team” event via Discord at 12 PM (UTC) during which users can:

• Meet the project’s co-founder Ryan Chow
• Dive into the project’s future and journey
• Engage with the community