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Solv Protocol is the 3rd project on Binance Megadrop

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Binance Megadrop appears to be focusing on staking projects on the Bitcoin blockchain and Stablecoin projects in order to improve liquidity on this ecosystem.

Binance has announced its third project on the Megadrop platform: Solv Protocol (SOLV). This is the Bitcoin staking protocol, focused on building a financial ecosystem around Bitcoin

According to the announcement from Binance, details on Megadrop amounts, Web3 tasks, and specific listing plans will be announced in upcoming announcements. Users can lock BNB and complete tasks in Binance Web3 Wallet to receive airdrop rewards.

Details about Solv Protocol Megadrop:

  • Token Name (Ticker): Solv Protocol (SOLV)
  • Maximum Total Supply: 9,660,000,000 SOLV
  • Total Supply at TGE: 8,400,000,000 SOLV
  • Megadrop Token Reward: 588,000,000 SOLV (7% of the maximum total supply)
  • Initial Circulation: 1,482,600,000 SOLV

The Solv Protocol (SOLV) is considered one of the most potential projects in the Babylonian ecosystem. The project successfully raised $11 million through five rounds of funding, with the participation of major investment funds such as Binance Labs, Spartan, IOGS Ventures, and Mirana Ventures.

Binance Megadrop is a new token issuance platform, designed to optimize the airdrop experience for users. The platform integrates seamlessly between Binance Simple Earn and Binance Web3 Wallet, giving users early access to Web3 projects before they are officially listed on Binance.

Further reference:How to Join Binance Megadrop for Airdrop Hunting

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Binance Megadrop is the latest mechanism to make a profit for BNB holders

Users who hold BNB will receive bonus points through staking BNB in the “BNB Locked Product” product on Binance Simple Earn. Rewards include tokens from projects in Megadrop. In addition, users can also participate in Web3 Quest missions in Binance Web3 Wallet to earn extra points.

The first project on Binance Megadrop is BounceBit (BB), a blockchain focused on BTC restaking array with a maximum total supply of 2,100,000,000 BB, of which 168,000,000 BB (8% of total supply) is allocated as rewards to Megadrop participants. The total airdrop value at the time of ATH was valued at more than $150 million.

Lista (LISTA) is the second project on Binance Megadrop, launched on May 23, 2024. It is a protocol that combines liquid staking and decentralized stablecoins, allowing users to profit from collateralized cryptocurrency assets and borrow decentralized stablecoins LisUSD. The total value of LISTA airdrop at ATH is worth more than $80 million.

This announcement marks a new step in the strategy of supporting potential projects on Binance, while providing an exciting opportunity for the BNB user community and those interested in the Web3 ecosystem.