Author: Sleeping in the Rain
I have talked to you about Stacks before. Today, I will continue with the previous topic and talk to you about another Bitcoin ecosystem project - the on-chain micro-strategy Solv Protocol.
Let's first use Rootdata to look at the basic situation of Solv:
Solv provides on-chain asset management for $BTC, which means that users can deposit $BTC into Solv to earn APY + potential $SOLV token rewards.
I would like to mention here that Solv was not engaged in the BTC ecosystem before, so there is basically no need to look at the investment institutions in 2021, and only need to look at the financing history from 2022 to 2024. In addition, institutions such as Blockchain Capital and IOSG Ventures still participated in the subsequent financing after Solv's transformation, which also indirectly showed their recognition of Solv's new transformation.
Currently, the TVL of Solv Protocol is 3.2B, of which the TVL of SolvBTC is 1.5B, which is a very good result.
I chose this time point to talk to you about Solv because it is about to have a TGE. (The $SOLV notes I bought with IVO in 22 years can finally be exchanged for coins, I am crying)
Here are some of the reasons why I think Solv is more Bullish:
1. Good fundamental data;
2. The entry threshold for $BTC deposits is low. While supporting native BTC staking, Solv also supports most BTC wrapped tokens on the EVM chain (for example, you can stake wBTC into Solv). After staking, users can also put solvBTC into some DeFi protocols to mine two assets at once.
For example, the collaboration between Solv and Silo Finance:
https://twitter.com/SiloFinance/status/1864740628980208055
3. With investments from Binance Labs and OKX, TGE should not be a problem.
4. Through bidding, Solv won the spot seat of Hyperliquid at a price of 128K USD (I would like to mention here that Solv did a good job in this strategy. Hyperliquid is one of the biggest hot spots in the current market. Being on the Hyperliquid list will effectively attract market attention).
If the Solv token performs well after TGE, it will also give some inspiration to latecomers - it seems that the cost-effectiveness of promoting their own tokens on Hyperliquid is much higher than on other CEXs.
Here are the views of @0xYond
His TG Channel: https://t.me/yondcallsbeta
I think there are two things we need to pay attention to in the future.
- Solv token economics;
- Community reaction after the airdrop;
These two are also very important references for our investment.
One more thing to add, I think the previous price trend can refer to $PUFFER. I personally think Solv's fundamentals are OK, and now it mainly lacks a narrative. If the narrative comes, it will be a good target.
