Binance to list Solv protocol in January

Binance will list SOLV, the native token of the Solv Protocol, on January 17 after the airdrop to the Megadrop platform.

In an announcement on January 6, Binance announced that spot trading for SOLV, the native token of the Solv Protocol (SOLV), will be available on January 17 at 10:00 UTC in trading pairs with USDT, BNB, FDUSD, and TRY.

When listed, the token’s circulating supply will be 1,482,600,000 SOLV tokens; This represents 17.65% of the token’s initial supply of 8,400,000,000 SOLV and 15.35% of the maximum supply of 9,660,000,000 tokens.

The platform first announced its plans to list SOLV on December 30, revealing that it would be the first exchange to list the token. He also warned that any platform claiming to list or offer SOLV tokens ahead of the official launch timeline is engaging in false advertising.

Before listing on the global exchange, Binance will host an airdrop event at 00:00 UTC on January 7 through Binance Megadrop, the exchange’s token launch platform that integrates Binance Simple Earn and Binance Wallet.

It gives users early access to select Web3 projects, allowing them to complete engaging tasks and earn points; These points can then be used for token airdrops before being listed on Binance.

As part of the Megadrop rewards, 588,000,000 SOLV tokens will be distributed to eligible Binance users by January 16, one day before the token is listed.

Megadrop participants can earn points by subscribing to BNB Locked Products or completing various tasks, which Binance calls tasks, on the Solv Protocol, which will then determine reward allocations. Binance urges users to fulfill both requirements to maximize their rewards.

Launched in 2020, Solv Protocol is a Bitcoin staking platform that plans to develop a Bitcoin-specific financial ecosystem by providing staking opportunities to holders of the leading digital asset, which currently has a market cap approaching $2 trillion.

The project was backed by Binance Labs and other notable VC firms, including Nomura’s Laser Digital, Blockchain Capital and OKX Ventures, in an $11 million strategic funding round held in October last year.

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