Binance to Launch SOLV Token Spot Trading on January 17

Binance to Launch SOLV Token Spot Trading on January 17

Binance has confirmed it will launch spot trading for SOLV, the native token of the Solv Protocol, on January 17 at 10:00 UTC. This announcement was made in Binance’s customer update on January 6, highlighting the trading pairs for SOLV, including USDT, BNB, FDUSD, and TRY.

SOLV Token Details

Upon its listing, SOLV will have a circulating supply of 1,482,600,000 tokens, representing 17.65% of its initial supply of 8.4 billion tokens and 15.35% of its total maximum supply of 9.66 billion tokens.

What is Solv Protocol?

Solv Protocol is a Bitcoin staking platform with the goal of creating a Bitcoin-native financial ecosystem. The protocol offers Bitcoin holders the opportunity to stake their assets. With Bitcoin’s market capitalization nearing $2 trillion, the project has gained significant attention. Solv Protocol received strategic funding in October 2024, raising $11 million from major investors, including:

• Binance Labs
• Nomura’s Laser Digital
• Blockchain Capital
• OKX Ventures

Binance’s Launch Announcement and Megadrop Airdrop

Binance initially announced its plans to list SOLV on December 30, 2024, cautioning users about platforms falsely claiming to offer the token before its official launch. Additionally, Binance has included SOLV in its Megadrop program, with an airdrop event scheduled for January 7 at 00:00 UTC.

Binance Megadrop Program for SOLV

Binance Megadrop provides users with early access to select Web3 projects via interactive tasks. Participants can earn points, which can later be redeemed for token airdrops before official listings. For SOLV, a total of 588 million tokens will be distributed to eligible Binance users through January 16, 2025. Rewards are based on:

• Points earned by subscribing to BNB Locked Products
• Completing tasks within the Solv Protocol

To maximize rewards, Binance recommends users meet both criteria during the Megadrop event.

Binance Labs Invests in THENA

In related news, Binance Labs, the investment arm of the crypto exchange, recently made an undisclosed investment in THENA, a decentralized exchange (DEX) and liquidity protocol built on the BNB Chain. Binance Labs stated that THENA’s approach is vital to the future of decentralized finance (DeFi), as it helps onboard users on-chain. The investment aims to:

• Accelerate platform development
• Enhance security
• Expand the user base
• Drive mass DeFi adoption with a focus on scalability and user experience

Through this investment, Binance Labs looks to contribute to the growth of DeFi and enhance its ecosystem’s scalability and usability.