7.65% of SOLV tokens at the time of TGE will be allocated to Season 1 participants and a small portion will be reserved for Binance Wallet, OKX, and Vesting Voucher Holders.
Solv Protocol will airdrop 7.65% of SOLV tokens to Season 1, TGE on January 17th
On January 15th, the Solv Protocol BTC staking protocol officially announced the details of the SOLV token airdrop for users.
The Future of Bitcoin Finance is Here.$SOLV.
— Solv Protocol (@SolvProtocol) January 15, 2025
Dive in 🧵👇 pic.twitter.com/p5NdVmdb4m
According to the announcement from the Solv Protocol team, a total of 7.65% of the SOLV supply (at the time of TGE) will be distributed through the upcoming airdrop, specifically:
- 7.25% for participants in the Solv Points System Season 1.
- 0.25% for early participants including Vesting Voucher holders, those who have completed KYC, or hold Seahorse Points.
- 0.15% for participants in the OKX Cryptopedia campaign.
Notably, 99% of users will receive their full SOLV allocation immediately, while the top 1% largest wallet holders will be subject to a 3-month vesting period to ensure token stability. The top 1% wallets will receive:
- 40% of their SOLV unlocked at the time of TGE.
- The remaining 60% will be distributed gradually over 3 months, with 20% unlocked each month.
To be eligible for the full SOLV allocation, those in the top 1% must maintain an average holding amount in Season 2 that is not lower than their average holding in Season 1. Failure to meet this condition will result in a proportional reduction in the SOLV received.
Additionally, Solv Protocol has reserved a portion of SOLV tokens for three special groups:
- Binance Wallet Airdrop: 0.15% of the SOLV supply will be directly allocated to eligible users from the Binance Wallet campaign.
- OKX Bitcoin Mainnet Airdrop: Airdrop of SOLV to BTC holders on OKX.
- Vesting Voucher Holders: 50% of the SOLV will be unlocked at the time of launch (TGE), with the remaining 50% unlocked after 6 months.
SOLV Tokenomics at the time of TGE
Additionally, 7% of the circulating SOLV supply will be allocated to users who participate in the Binance Megadrop BNB locking program, to be distributed on January 17th.
The TGE timeline and token claim process are as follows:
- January 16, 2025, 04:00 PM (Vietnam time): Users can check their eligible wallets at this link.
- January 17, 2025, 04:00 PM (Vietnam time): SOLV token claim begins.
- January 17, 2025, 05:00 PM (Vietnam time): SOLV will be officially traded on Binance and other major exchanges.
- March 18, 2025, 9:00 UTC: Deadline for token claiming. Unclaimed tokens will be returned to the Community Rewards & DAO Treasury.
The SOLV token is issued on the BEP-20 standard with a maximum total supply of 9.66 billion tokens, of which the initial supply will be 1.4826 billion tokens.
Solv Protocol has set two total supply levels: 9.66 billion tokens as the maximum total supply and 8.44 billion tokens as the total supply at the time of TGE. This difference is due to the plan to implement Bitcoin Reserve Offerings (which can account for up to 13% of the total supply) to mint additional SOLV and sell them as convertible bonds to raise more BTC for the reserve fund. If the SOLV token sales do not meet the targets, the actual SOLV total supply will be between 8.44 billion and 9.66 billion tokens.
SOLV Tokenomics with Maximum Total Supply
SOLV Token Unlock Schedule
Despite being accused of "TVL manipulation", at the time of writing, the SOLV token is being traded on pre-market platforms at a price range around $0.246, corresponding to a market capitalization of $360 million.
SOLV token pre-market price movement on Gate.io, screenshot taken at 07:05 PM on January 15, 2025
Compiled by Coin68
