Binance has unveiled its third project on the Megadrop platform, Solv Protocol (SOLV), a Bitcoin staking protocol aimed at building a financial ecosystem centered around Bitcoin. Details regarding the Megadrop quantity, Web3 tasks, and listing plans will be revealed in an upcoming announcement.
Details About the SOLV Megadrop
- Token Name: Solv Protocol (SOLV)
- Maximum Supply: 9.66 billion SOLV (subject to increase through network governance for Bitcoin Reserve Offering)
- Genesis Supply: 8.4 billion SOLV (86.96% of maximum supply)
- Megadrop Rewards: 588 million SOLV (7% of Genesis supply, 6.09% of maximum supply)
- Initial Circulating Supply at Binance Spot Listing: 1.4826 billion SOLV (17.65% of Genesis supply, 15.35% of maximum supply)
Related: Binance Launches 63rd Project on Launchpool – BIO Protocol
How to Join Binance Megadrop
- Register Locked BNB Packages and/or Complete Web3 Tasks to Accumulate Points:
- To participate in Web3 tasks, ensure you have at least one active Binance Wallet.
- Subscribe to Locked BNB Packages on Simple Earn to Earn Points.
- Access Megadrop via the Binance App:
- Complete Web3 tasks to accumulate points and earn multipliers.
- Receive Megadrop Rewards Based on Your Total Points.
Megadrop Points Calculation Mechanism
Rewards for eligible users will be based on the ratio of their Total Points to the Total Points of all qualified users.
Points System:
- Locked BNB Points:
- Based on the amount of BNB locked and the locking period. Longer lock durations earn more points.
- Web3 Task Bonus Points and Multipliers:
- Earned upon completing all required Web3 tasks.
Formula to Calculate Total Points: Total Points = (Locked BNB Points × Web3 Task Multiplier) + Web3 Task Bonus Points
