RECAP#AMA588
#AMA588
CryptoFury Community x Solv Protocol
⏰ Time: Dec 2nd , 9:00 AM UTC
💰 Giveaway : 150$
💎 Place : https://t.me/CryptoFuryVN
Question for Part 1- Project overview:
1.Could you briefly introduce yourselves as well as Solv? What is Solv’s milestone?
Ryan:
Hello everyone, I’m Ryan, co-founder of Solv Protocol. I’m responsible for our marketing and research team. Solv is the first Defi platform that focuses solely on the minting, managing, and on-chain transactions of all Financial NFTs. You can think of Financial NFTs as NFTs that represent and certify any type of financial equity
Our flagship product is the Vesting Voucher. You can conceptualize a Voucher as an NFT container with a set of easily definable unlocking rules. Our Vouchers have the ability to be fractionalized, thus giving locked-up assets liquidity and making for a wide range of use cases.
The institutions that participated in our seed round include IOSG, Spartan, Hashed, and other well-known institutions. Our private round investors include Sfermion(Lead), Blockchain Capital(Lead), Jumptrading, CMSHoldings, Apollo, The Lao, Defi Alliance, and Gumi Crypto. The vesting period of the IVO is much shorter than the private round fundraising.
Solv has completed our Series A funding round, led by Blockchain Capital, Sfermion and gumi Cryptos Capital:
https://twitter.com/SolvProtocol/status/1465937264169537537
About milestone, early-stage protocols like ColdStack and Yin love this product for its efficacy in managing lock-up allocations. Seasoned protocols like DODO and Prometeus issued vouchers and used them to incentivize the community to deepen its relationship with the protocol.
The use cases of Vesting Voucher are just out of our grasp, we are reaching for the impossible. Since our main net launch in June, Solv has reached $70 M+ in total value locked (TVL) and boasts 2000 unique Voucher owners!
We have also bought $3 million worth of coverage through Unslashed Finance, $1 million worth of coverage through Tidal Finance.
2.What makes Solv unique, especially now that there are a lot of On-Chain Liquidity projects popping up. And how can this unique value proposition prove to be a defining solution in DeFi?
Ryan:
Since our products are based on the EIP-3525 Token standard, which is our original NFT Standard built for Financial NFTs, our Voucher is the only product of its kind in the industry that has both splitting and multi-attribute description capabilities. Compared with the ERC-20 solution, it has stronger information description capabilities and can meet more complex and diverse business needs at a low cost. And compared with the ERC-721 solution, it has better liquidity.
3.What value do you believe Solv Vouchers can bring to retail investors?
Ryan:
To start, all retail investors can now participate in early investing. This is an Institutional-level investment opportunity for retail investors. Solv Protocol is mainly targeting allocation trading, where retail investors can enjoy low friction, high transparency, fraud-free trading experience, and easily obtain their preferred lock-up allocations. In addition, we will soon launch liquidity mining rewards, and users who trade Vouchers will get incentives in the form of $SOLV Vouchers.
The Voucher is an excellent opportunity for holders to invest in projects at a discounted price. In July, a 2-year DODO vesting voucher- meaning the DODO tokens locked in the voucher will be released in 2 years was issued on the Solv Marketplace, with a unit price of $0.49633 when the DODO spot price was $1.02. Now, its price is $1.5. So, it’s safe to say that all of the buyers here have enjoyed high returns in a short time.
4.IVO is a totally new way of issuance. What is the difference between IVO and the previous initial public offering of tokens? Our community members want to know if $SOLV’s IVO is worth getting involved with!
Ryan:
An IVO is an Initial Voucher Offering. All users participating in our IVO will enjoy the same rights as private equity investors and will be able to participate directly in Solv’s primary market investment. In this IVO, Solv will publicly sell SOLV Vesting Vouchers, a type of NFT that represents locked-up $SOLV tokens. Solv directly distributes Vouchers to users as an on-chain certificate for locked Tokens.
Vouchers tokenize locked up tokens, which in turn releases asset liquidity. Before the unlocking period, users can transfer Vouchers to meet their funding needs. Solv has established a marketplace specifically for financial NFTs on its platform. Holders can receive a certain number of SOLV tokens on the Solv platform during the unlocking period.
5.Could you introduce the rules of IVO for us and how to participate in it?
Ryan:
This chart contains the key metrics for Solv IVO
Link: https://solvprotocol.medium.com/announcing-the-solv-ivo-event-5658e0ad6bdd
How to participate in the coming IVO?
1. There’ll be $350k Solv Vouchers sold on Binance NFT. ($400 per Voucher)
2. There’ll be $350k Solv Vouchers which are only purchasable for addresses on the whitelist sold on Solv marketplace (on BSC). And the maximum purchase limit is $400 for each address.
How to get your address added to the whitelist?
1. Participate in the Gleam campaign.
2. Participate in the activities held by Solv partners
Whitelist campaign on Gleam: https://gleam.io/2YjvA/solv-initial-voucher-offering-whitelist-campaign
Please note that the addresses which are successfully added to the whitelisted need to pass the KYC. And it should be FCFS.
If you don’t want to miss our IVO, you will definitely come to our follow our official account:
Twitter： https://twitter.com/SolvProtocol
Telegram: https://t.me/SolvProtocol
Discord：https://discord.com/channels/866371345247502366/866371345247502369
Website : https://solv.finance/home
Whitelist campaign on Gleam: https://gleam.io/2YjvA/solv-initial-voucher-offering-whitelist-campaign
Part 2: Pre-selected questions from our community
1.Many blockchain projects are on paper only and don’t have any product or have a product with no practical use case. Please let us know what is Coin’s current practical product in use? What are your plans for the product to be better in the future?
Ryan:
One of the main goals of Vesting Vouchers is to completely improve allocations management experience with more even asset liquidity. And the following three characteristics of Vouchers will make sure the goal is met:
(1) Vesting Vouchers are transferrable. Thanks to their NFT-ness, anybody who owns a Voucher automatically has a right to its underlying tokens, as well as the right to retrieve them.
(2) Vesting Vouchers are tradable. All Vouchers are tradable on the DeFi marketplace such as OpenSea. It’s also entirely possible to put them up as the loan collateral (NFTfi or Taker) or a group of vouchers packaged and issued as ERC-20 tokens on derivatives platforms such as Unicly and DoDo.
(3) Vesting Vouchers are fractionalizable. Thanks to Solv Protocol’s original token standard with the feature of splitting and combining, Vouchers are supported by ERC-721 compliant infrastructures and are completely fractionalizable
There are several innovative products developing now and will be launced soon!
2.Currently, many BSC projects are hacked, what protects Solv Protocol to ensure that my assets are invested in the platform?
Ryan:
Solv Protocol is designed to protect users’ assets. We work closely with top-notch blockchain security solutions to protect our users’ assets from external and internal risk factors. We are proud to say that our source code has successfully passed the audits by both SlowMist and CertiK, key blockchain security organizations, and is on schedule to be audited by a third security network.
In the pursuit of higher protocol security, Solv has purchased $1million worth of insurance coverage through Tidal Finance and $3 million of insurance coverage through Unslashed. This allows the Solv users to get insured over SC risk. The current plan covers smart contract vulnerabilities deployed on Ethereum and Binance Smart Chain. Needless to say, this is quite momentous as this is the FIRST time Defi insurance is being applied to the NFT sector!
Besides, we are offering a $50,000 bug bounty to incentivize developers and white hats to help us secure our protocol by uncovering its vulnerabilities and shortcomings. And we are pleased to be able to launch this undertaking with Immunefi, which is a leading bug bounty platform experienced in the testing and securing of Defi protocols.
3.Can I buy your tokens right now, and if so, which wallets do you support? Can you tell me about your team’s history? Which areas are your team focusing on at the moment? (DeFi, Stake, Dapps…) and what are your goals for this year?
Ryan:
We support BSC, ETH and Polygon right now will support more in the future. The tokens are not listed yet, but you could particite in the coming IVO on 13th December to get Solve vesting Vouchers at the early stage and with a low price!
https://solvprotocol.medium.com/announcing-the-solv-ivo-event-5658e0ad6bdd
We are focusing solely on the minting, managing, and on-chain transactions of all Financial NFTs. You can think of Financial NFTs as NFTs that represent and certify any type of financial equity.
Since this year is endding soon, our goal is to hold this IVO successfully and I believe we will make it.
4.How important do you consider the community in the success of this project, what marketing skills are you using to build a strong community and audience, is there any AMBASSADOR program?
Ryan:
As we are a flow aggregated platform for both projects and investors, we put much emphasis on communities thus we give whitelist for our funs through Gleam:
https://gleam.io/2YjvA/solv-initial-voucher-offering-whitelist-campaign
And will have Airdrop Campaigns in the near future etc.
We’ll learn and develope as time goes by and are considering the ambassador program now.
5.During your project development, did you consider community feedback/ requests to further expand on new ideas for your project? Many projects fail because they don’t understand their target audience and customers. So I want to ask Who is the most ideal customer for your product?
Ryan:
Yes of course, we know that good projects can’t develope with a great community. Since we’ll have many great projects on board and offer oppunities for retail investor to invest in a early stage and purchse lockup allocation with a discount. Therefore everyone is important for us no matter your are retail investors or private investors or even projects because on Solv we benefits each other!
Question for Part 3: Guests will choose 5 live questions from members and answer directly in CryptoFury Community
1.Nowadays, everyone is interested in their own benefits from many projects, but they rarely care about the benefits of the project for the user. So what benefits do the project bring to users? What are the plans for reaching new investors and new users in other countries?
Ryan:
To start, all retail investors can now participate in early investing. This is an Institutional-level investment opportunity for retail investors. Solv Protocol is mainly targeting allocation trading, where retail investors can enjoy low friction, high transparency, fraud-free trading experience, and easily obtain their preferred lock-up allocations. In addition, we will soon launch liquidity mining rewards, and users who trade Vouchers will get incentives in the form of $SOLV Vouchers.
The Voucher is an excellent opportunity for holders to invest in projects at a discounted price. In July, a 2-year DODO vesting voucher- meaning the DODO tokens locked in the voucher will be released in 2 years was issued on the Solv Marketplace, with a unit price of $0.49633 when the DODO spot price was $1.02. Now, its price is $1.5. So, it’s safe to say that all of the buyers here have enjoyed high returns in a short time
2.Are any possibilities; perhaps the Core team have plans to built $Solv Protocol based in its own blockchain ?
Ryan:
We now support BSC, ETH and Polygon, and will support more chains or working with bridging projects. But TBH I don’t think we will build an infrastructure by our own:)
3.Do you have mechanisms such as buyback and burning to regulate the demand and supply of $Solv Protocol, to increase its intrinsic monetary values?
Ryan:
Actually we don’t have a specific plan for it now but Solv could privide such a function for other projects and this product will be launched soon.
4.Will swapping of NFTs be allowed on Solv Protocol? Also, are we going to use Solv Protocol native token to buy/sell NFTs, or just about any major cryptocurrency token will do it?
Ryan:
Solv token standard is compatible with ERC721 tokens thus Solv Vouchers could be sold on other NFT marketplace but it can’t be reversed😂
We will use SOlv Tokens to incentivize some traders and actually all NFTs on Solv marketplace should be minted by different projects(individuals) with different underlying assets inside, and the payment token is dicided by people who mint it.
5.What is your plan to create awareness about your project in different regions? Will you create local Communities for local user or planning for an ambassador program?
Ryan:
We have worked with some KOLs to build local communities like Russian community, and will definitely working on this.
All details about solv finance could be found below
🛢 Website: https://solv.finance/home
🛢 Twitter: https:https://twitter.com/SolvProtocol
🛢 Telegram Chat: https://t.me/SolvProtocol
