Source: Binance official website, Solv Protocol white paper, Golden Finance, RootData Compiled by: Golden Finance

December On the 30th, Binance announced that Binance Megadrop has now launched the third phase of the project - Solv Protocol (SOLV), a Bitcoin staking protocol focused on building a financial ecosystem with Bitcoin as the core. Binance will list SOLV after the completion of Megadrop. The specific listing plan will be announced separately, so stay tuned. The Megadrop quota information and Web3 task details will also be announced at that time.

Introduction to Binance Megadrop:

Binance Megadrop is a brand-new token issuance platform that seamlessly integrates Binance’s coin-earning products with the Binance Web3 wallet, redefining the airdrop experience. Through Megadrop, users can get early access to select Web3 projects that have not yet been officially launched on Binance.

1. Introduction to Solv Protocol project

Solv Protocol is an on-chain Bitcoin reserve designed to unlock the full potential of over $1 trillion in Bitcoin assets.

Through the Staking Abstraction Layer, SolvBTC, and SolvBTC.LSTs (Liquid Staking Tokens), Solv enables retail and institutional investors to stake Bitcoin Seamlessly integrate into the DeFi ecosystem to capture diverse revenue opportunities without sacrificing liquidity. Solv Protocol has received support from well-known investment institutions such as Binance Labs, Blockchain Capital, Laser Digital, and OKX Ventures.

Operating model

Bitcoin has a market value of approximately US$1.3 trillion and is widely regarded as the cornerstone of digital assets. However, despite Bitcoin’s dominance, the proportion of Bitcoin actually staked is extremely low. By comparison, nearly 28% of Ethereum’s supply is staked, unlocking hundreds of billions of dollars in economic activity. If Bitcoin holders can pledge part of their assets like Ethereum, an additional potential value of approximately $330 billion will be released.

Staking Abstraction Layer (SAL) is the core infrastructure of Solv Protocol. It abstracts the complexity of Bitcoin staking in multiple ecosystems and provides a unified operating interface for Bitcoin holders .

With SAL, users can access multiple income strategies on different blockchains while holding Bitcoin’s liquidity representative asset - SolvBTC. /p>

By and various Integrated with DeFi platforms and ecosystems, SAL simplifies the process of diversifying income strategies for Bitcoin holders, allowing them to participate in staking and earn income while maintaining Bitcoin exposure.

A unified, standardized system is essential to coordinate these roles and ensure transparency and security throughout the entire process - from the deposit of Bitcoin assets to the final crediting of rewards into LST Token value or incentives are distributed to users. This coordination is essential to protect user assets and ensure smooth and risk-free earning.

Solv Protocol is built. A complete Bitcoin staking ecosystem. Through the integration of staking protocols, LST issuers, verifiers and revenue distributors, the Bitcoin mainnet and EVM are realized. Seamless interaction between compatible chains simplifies the pledge implementation for users and developers. The pledge agreement provides a source of income for pledged Bitcoins, and LST issuers issue liquid pledge tokens to allow users to maintain asset liquidity during the pledge period. The verifier is responsible for verifying the legality and security of the pledge transaction, and the income distributor is responsible for transparently distributing the income generated by the pledge to LST holders, providing users with a more convenient, safe and attractive pledge experience.

2. Project Team Core Team

Ryan Chow: Co-founder. Graduated from Beijing Foreign Studies University. He worked as a co-founder of Beijing Youzan Technology and was committed to applying blockchain technology to the automotive industry database. In addition, he also worked as a financial analyst at Singularity Financial. Blockchain technology integration and financial regulation

Will Wang. : Co-founder. Created "ERC-3525: Semi-homogeneous token standard. He has been working in the financial IT field for 20 years and has presided over the design and development of the world's largest bank accounting system based on open platforms and distributed technologies. Development, is the winner of the "Zhongguancun 20th Anniversary Outstanding Contribution Award".

Meng Yan: Co-founder. He once served as the vice president of CSDN. In addition, he is also an active KOL in the Crypto industry.

3. Token Economics

Token name: Solv Protocol (SOLV)

Maximum supply of tokens: 9,660,000,000 SOLV (will be decided by governance vote through BTC Reserve raising plan increased)

Total supply of creation tokens: 8,400,000,000 SOLV (86.96% of the maximum supply of the token)

Megadrop token reward: 588,000,000 SOLV (7% of the total genesis token supply, 6.09% of the maximum supply of the token)

< p>Initial circulation when Binance lists the spot currency: 1,482,600,000 SOLV (17.65% of total genesis token supply, 15.35% of maximum token supply)