Crypto/Web3

Binance to list Solv Protocol’s native token $SOLV

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Binance to list Solv Protocol’s native token $SOLV
Binance to list Solv Protocol’s native token $SOLV
  • $SOLV listing will take place on January 17, 2025, at 10:00 UTC
  • $SOLV will have a maximum supply of 9,660,000,000 SOLV
  • The initial circulating supply of $SOLV at listing will be 1,482,600,000 SOLV (17.65% of Genesis supply, 15.35% of maximum supply). 

The world’s largest crypto exchange, Binance, is set to list SOLV, the native token of Solv Protocol, for spot trading on its platform. 

Binance announced on January 6, 2025, that the listing will take place on January 17, 2025, at 10:00 UTC and will offer trading pairs including OLV/USDT, SOLV/BNB, SOLV/FDUSD, and SOLV/TRY. 

Recall that Binance initially announced its plan to list SOLV on December 30, claiming to be the first exchange to do so. Additionally, it cautioned that it is deceptive advertising for any platform to claim to list or offer SOLV tokens prior to the official launch date.

At the time, Binance explained that no other exchange would be listing SOLV, noting that any other platform that claims to be listing SOLV before the published time should be disregarded and seen as a false advertisement.

$SOLV token’s tokenomics

According to the developers, $SOLV will have a maximum supply of 9,660,000,000 SOLV, while the genesis supply will be 8,400,000,000 SOLV (86.96% of maximum supply), and the megadrop reward on Binance will be 588,000,000 SOLV (7% of Genesis supply, 6.09% of maximum supply)

The initial circulating supply at listing will be 1,482,600,000 SOLV (17.65% of Genesis supply, 15.35% of maximum supply). 

On January 7 at 0:00 UTC, Binance will hold an airdrop event through Binance Megadrop, the exchange's token launch platform that combines Binance Simple Earn and Binance Wallet, prior to the spot listing on the global exchange.

Prior to their listing on Binance, users are given early access to a few Web3 projects, enabling them to earn points through interesting tasks that can be exchanged for token airdrops.

Up until January 16, the day before the token is listed, 588,000,000 SOLV tokens will be given away to qualified Binance users as part of the Megadrop rewards. 

What is Solv Protocol

Solv Protocol is a Bitcoin staking platform dedicated to building a Bitcoin-centric financial ecosystem. The native token of Solv Protocol is $SOLV. 

Solv Protocol is a unified standard for Bitcoin staking. It standardises and enhances interoperability in the Bitcoin staking ecosystem, enabling accessibility for all participants.

Hamster Kombat loses 18 million players, 98% of trading volume

Meanwhile, TheRadar earlier reported that the popular Telegram-powered tapper game Hamster Kombat lost over 18 million players between November and today. The game’s token HMSTR also lost 97% of the trading volume reported on November 10.

Hamster Kombat was one of the most popular Telegram-powered tappers on Web3. In August this year, the game’s developers claimed to have over 300 million active players. However, the game has seen a continuous, massive decline since the HMSTR token listing and the start of trading. 

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Justice NwaforEditor

Justice Nwafor is an award-winning freelance journalist, editor and content writer. His work has been published by several outlets, including HumAngle, Earth Journalism Network, Reuters, SciDevNet and the BBC. In August 2023, his work was recognized as the best in the Business and Environment category at the Sanlam Awards for Excellence in Financial Journalism in South Africa. He is a 2024 finalist for the True Story Award and a panelist at the True Story Festival, both in Bern, Switzerland. Justice is a consummate journalist with experience in reporting environment, global health, business and crypto/web3. Justice focuses on covering the dynamic world of crypto and web3 for TheRadar.

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