Binance will list Solv Protocol’s native token SOLV on January 17 after dropping the token on its Megadrop platform.
In a January 6 announcementBinance revealed that spot trading for SOLV, the native token for Solv Protocol (SOLV), on January 17 at 10:00 UTC, offering trading pairs with USDT, BNB, FDUSD and TRY.
Upon listing, the circulating supply of the token would be 1,482,600,000 SOLV tokens, representing 17.65% of the token’s genesis 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, explaining that it would be the first exchange to list the token. It also warned that any platform claiming to list or offer SOLV tokens before the official launch timeline is engaging in false advertising.
Prior to the spot listing on the global exchange, Binance will host an airdrop event on January 7 at 00:00 UTC via Binance Megadrop – the exchange’s token launch platform that integrates Binance Simple Earn and Binance Wallet.
It offers users early access to select Web3 projects, allowing them to complete engaging tasks and earn points, which can then be redeemed for token airdrops before listing on Binance.
As part of the Megadrop rewards, 588,000,000 SOLV tokens will be distributed to eligible Binance users until January 16, one day before the token is listed.
Megadrop participants can earn rewards by subscribing to BNB Locked Products or completing various tasks, which Binance calls quests, on the Solv Protocol to score points, which then determine their reward allocation. To maximize their rewards, Binance urges users to meet both requirements.
Solv Protocol, launched in 2020, is a Bitcoin staking platform that plans to develop a Bitcoin-native financial ecosystem by offering staking capabilities to holders of the leading digital assets, which currently have a market capitalization of nearly $2 trillion.
The project was backed by Binance Labs and other notable venture capital firms, including Nomura’s Laser Digital, Blockchain Capital and OKX Ventures, among others, in an $11 million strategic funding round held in October last year.
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