What is SOLV Protocol? Project on Binance Megadrop

Solv Protocol is a pioneering platform that connects Bitcoin to decentralized finance (DeFi), allowing users to maximize the value and utility of Bitcoin assets.

INSIGHTS

1/23/20253 min read

What is Solv Protocol project?

Solv Protocol is a pioneering decentralized finance (DeFi) protocol for managing and trading derivative assets such as Vouchers. The project focuses on increasing liquidity and optimizing capital mobilization in the DeFi market. It provides a technological infrastructure that enables the creation, trading, and management of Voucher assets in a flexible, secure, and transparent manner.

Restaking protocol in the Bitcoin ecosystem. Users can stake Bitcoin LST assets such as tBTC, WBTC, BTC.b… and receive SolvBTC tokens. Accordingly, SolvBTC token holders can participate in DeFi activities on many different networks, such as Lending/Borrowing, Farming…

How Solv Protocol Works

SolvBTC: A Bitcoin reserve token backed 1:1 by BTC, allowing users to participate in DeFi activities across multiple blockchains.

Liquid Staking Tokens (LSTs): Allows users to stake Bitcoin while maintaining liquidity, allowing participation in DeFi applications without locking up assets.

Staking Abstraction Layer (SAL): Staking abstraction layer, providing a unified interface for staking BTC across multiple ecosystems, enhancing interoperability and user experience.

In addition, to ensure liquidity and maintain the value of SolvBTC tokens, the Solv Protocol team divides LST tokens into two groups: Core Reserves and Innovative Reserves. In which:

  • Core Reserves: The group of tokens with the highest liquidity and security, such as BTC, BTCB…

  • Innovative Reserves: High-risk token group, such as low liquidity, smart contract risk... Tokens in the Innovative group include WBTC, FBTC, cbBTC...

SAL Components on Solv Protocol

  1. Staking Protocols: Staking protocols integrate multiple blockchains, enhancing interoperability.

  2. LST Issuers: Organizations that issue LSTs, providing tokens representing staked BTC.

  3. Yield Distributors: Distribute staking profits to participants.

  4. Staking Guardians: Security management for staking transactions.

Smart Contract Mechanism on SOLV

Solv Protocol implements the Solv Guard security layer, which acts as an intermediary layer between the underlying assets and user assets, adding a security mechanism to smart contracts.

Solv Guard is built on the "Safe" smart contract wallet with multi-signature capabilities, limiting the scope of operation of the multi-signature function in Safe. Each Vault is configured with a Vault Guardian, identifying the target address and corresponding authority, ensuring the validity of every transaction.

  1. Vault Guardian: Configure safe zones for assets during trading.

  1. Solv Guard: An additional layer of security between user assets and the ecosystem, ensuring transparency and safety.

Tokenomics and Token Allocation

  • Project Name: SOLV Protocol

  • Token : $SOLV

  • Chain: BNB Chain

  • Smart contract : 0xabe8e5cabe24cb36df9540088fd7ce1175b9bc52

  • Total Supply: 8,400,000,000 $SOLV

  • Circulating Supply: 1,482,600 $SOLV

    Distribution:

    • Team & Advisors: 15%.

    • Community Rewards: 25%.

    • Private Sale: 20%.

    • Liquidity: 10%.

    • Development & Reserves: 30%.

    Vesting Mechanism: Tokens are vested on a long-term roadmap to protect stability.

Investor

Solv Protocol received backing from many reputable investors such as Binance Labs, Spartan Group and Blockchain Capital, strengthening the project's position in the market.

  • April 9, 2021: Solv Protocol raises Strategic round with participation from Krypital Group.

  • May 8, 2021: Solv Protocol raises $1 million Seed round.

  • December 1, 2021: Solv Protocol successfully raised $4 million in Series A round, led by Sfermion, Blockchain.com and gumi Cryptos.

  • January 27, 2022: Solv Protocol raises Strategic round from Binance Labs.

  • August 1, 2023: Solv Protocol raises $6 million, with participation from Mirana Ventures, Laser Digital, Apollo Capital…

  • October 14, 2024: Solv Protocol continues to raise $11 million in Strategic funding from many large funds such as Blockchain Capital, CMT Digital, OKX Ventures...

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