Binance to List Solv Protocol’s SOLV Token on January 17

Binance has announced that it will list the native token of Solv Protocol (SOLV) on January 17, 2025. The token will be available for spot trading on Binance with trading pairs including USDT, BNB, FDUSD, and TRY. This is part of Binance’s ongoing efforts to expand its Web3 offerings and solidify its position within the decentralized finance (DeFi) space.

Before the official listing, Binance will host an airdrop event for SOLV tokens through its Megadrop platform. The event will begin on January 7, 2025, at 00:00 UTC. Binance Megadrop is a token launch platform that integrates Binance Simple Earn and Binance Wallet, providing users with early access to select Web3 projects. Participants can engage in tasks, referred to as “quests,” to earn points which can then be redeemed for SOLV token airdrops before the listing.

The circulating supply of SOLV tokens on January 17 will be 1,482,600,000 SOLV, representing 17.65% of the token’s genesis supply of 8,400,000,000 SOLV and 15.35% of its maximum supply of 9,660,000,000 SOLV tokens. The listing on Binance is a significant milestone for Solv Protocol, a platform that offers staking opportunities for Bitcoin holders, thereby creating a Bitcoin-native financial ecosystem.

For the airdrop, Binance will distribute 588,000,000 SOLV tokens among eligible users who participate in the Megadrop event. To maximize their rewards, users must fulfill both subscription requirements to Binance’s BNB Locked Products and complete tasks on the Solv Protocol platform. Points earned from these activities will determine their share of the SOLV airdrop.

Solv Protocol, launched in 2020, focuses on Bitcoin staking and aims to build a financial ecosystem centered around Bitcoin. With Bitcoin’s market cap nearing $2 trillion, the protocol seeks to address the demand for decentralized finance solutions based on Bitcoin. It is backed by notable investors, including Binance Labs, Nomura’s Laser Digital, Blockchain Capital, and OKX Ventures, after securing $11 million in a strategic funding round in October 2024.

The listing of SOLV on Binance represents an exciting step for Solv Protocol as it expands its presence in the global cryptocurrency market, especially through Binance, one of the world’s leading exchanges. This development highlights growing interest in Bitcoin-based DeFi solutions and the increasing demand for decentralized financial products.