CryptoThrust X Solv Protocol AMA
Guest: Ryan (Co-Founder)
Hello everyone, I’m Ryan, co-founder of Solv Protocol. I’m responsible for our marketing and research team.
Segment 1- Project Introduction
Q1) Could you briefly introduce Solv?
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.
Q2) What is Solv’s milestone?
After completing collaborations with over 20 DeFi projects, using Vesting Vouchers for various scenarios such as fundraising, community building, and token liquidity management. We have proved that from a cost perspective, Vesting Vouchers can grease the wheels of managing tokenized allocations for all parties.
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.
Q3) 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?
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.
Talking about our ecosystem, we’ve built a strong network of resources. That is, we have established cooperation with more than 25 blue chip projects. And we are committed to continuing to bring high-quality projects to the platform to avail investment opportunities via Vesting Vouchers to our user base. This will allow us to maintain a pole position.
Q4) What value do you believe Solv Vouchers can bring to retail investors?
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.
Q5) 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!
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.
Q6) Could you introduce the rules of IVO for us and how to participate in it?
This chart contains the key metrics for Solv IVO
How to participate in the coming IVO?
- There’ll be $350k Solv Vouchers sold on Binance NFT. ($400 per Voucher)
- 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?
- Participate in the Gleam campaign.
- Participate in the activities held by Solv partners
Details will be posted soon.
Please note that the addresses which are successfully added to the whitelisted need to pass the KYC. And it should be FCFS.
Segment 2- Questions from Twitter
Q1) The EIP-3525 Token standard is used in SOLV Protocol products. Could you explain what EIP-3525 is? How it characterizes it from ERC20 and ERC721?
Solv is a pioneer in the world of Financial NFTs and Defi.
It does this by having designed and created a new ERC token standard known as a versatile non-fungible token (EIP3525) that is both flexible enough like the ERC-20, but also non-fungible like the ERC-721, making it a semi-fungible asset.
The first EIP3525 token product was created in the form of a Solv Voucher, designed to be used in the form of allocations to grant broader access to private sales while generating much-needed liquidity for projects or investors.
Q2) What is @SolvProtocol revenue model?In which ways do you generate revenue/profit?So many projects just like to speak about the”long term vision and mission”but what are your short terms objectives? What are you focusing right now?
Solv will charge 1.5% transaction fee from the successfully transactions on Solv marketplace.
And we are focusing on the coming IVO on 6th December. Please note the recent ANNs in Solv communities and social medias.
Q3) The NFTs on your platform are the tool of everything, they can be used for trading, battle and gaming but how versatile they can be? is there a way to improve the NFTs with extra items and get better stats and price or fractionalize them for trading?
Solv is focusing on financial NFTs, if we we make it versatile for every aspects, it won’t be the best choice for financial products. Although it’s versitile, we put the emphasis on the financial things. Our financial NFTs can use AMM model for pricing and trading. Hightstreet has built one for Vouchers to ERC20 tokens.
Q4) According to your roadmap, you are going to introduce “permissionless Financial NFT Creation” next year. This seems like a unique concept. What do you mean by this term? Is it about creating NFTs without a permission? To achieve this target in 2022, what have you done so far?
We now only allow projects to mint their financial NFTs, but will open this function for every one who comes to Solv Protocol and allow anyone to mint his own Financial NFTs.
Q5) In Solv Protocol, Vouchers can be used in NFT lending platforms such as Nftfi, Pawnfi, Taker protocol, and Drops, but will you include this option in the Solv protocol in the future? And what characterizes the Voucher’s potential in the lending scenario?
Actually, EIP-3525 is fully compatible with ERC721, we are working on those lending protocols now and will not develop this function of our own probably. In the lending scenario, we provide liquidity to holders with vested tokens which is impossible in the past. This liquidity will help them perfectly solve the shortage of funds under some circumstances.
Segment 3- Live Telegram Session
Q1) Can you list 1–3 killer features of this project that makes it ahead of its competitors? What is the competitive advantage your project has that you feel most confident about?
We use NFT to represent financial instrument which is capable of carrying a much lager mount of datas compared with those who use ERC20 asset. Fractionalized attribute is extreme crucial for it to be a financial instrument. We are really safe for both users and projects.
Q2) Where can I buy your tokens now and and do you have another platform to earn this token?
Please participate in the coming IVO, two platforms are ready for this: 1. Solv Marketplace 2. Binance NFT
Q3) Partnership is always an important factor for every project. So who is your partner? What are the benefits you get from those relationships?
We have partners like DoDo, Highstreet, Prometeurs, Impossible Finance etc…And Solv TVL has exceeded $70M now with their help.
Q4) Do you have AUDIT credentials or are you working to AUDIT your project, to make it more secure and reliable?
We have passed the audit by Slow Mist and Certic and covered $400 insurance by Tidal Finance and Unslashed, also cooperated with Immunue Fi for the bug bounty program. We will continue covering more in the near future!
Q5) Can you share your social media links so we can keep ourselves updated?
If you don’t want to miss our IVO, you will definitely come to our follow our official account: