Introducing the Upgraded Solv Points System
We are thrilled to announce a major upgrade to our Solv Points System, designed to align the growth of the SolvBTC ecosystem and incentivize active participation in BTCFi. This upgrade reflects our commitment to providing the best possible experience for our users while fostering a robust and dynamic ecosystem around SolvBTC.
Aligning Growth and Incentivizing Participation
The upgraded Solv Points System is a strategic initiative to ensure that the growth of SolvBTC and its ecosystem is not only sustained but also thriving. By incentivizing active participation, we aim to enhance user engagement with SolvBTC and its derivatives, ultimately driving the adoption of BTCFi.
Key Changes in Solv Points Allocation
- Transition from “Mint to Earn Points” to “Hold to Earn Points”
a. Previous system: Users earned Solv Points from “minting” SolvBTC, even if they sold it on the secondary marketplace.
b. Current system: Users now earn Solv Points from “holding” SolvBTC, SolvBTC.ena, or the related LP tokens listed on our Liquidity webpage. This change rewards long-term engagement and supports the overall growth and stability of the SolvBTC ecosystem.
2. Reduction in Base Holding Rewards
The base Solv Points (XP) reward for holding SolvBTC has been reduced from 4 XP to 2 XP. This change encourages users to actively participate in the SolvBTC ecosystem rather than passively holding their tokens.
3. Enhanced Rewards for Active Participation:
a. Ethena Yield Vault Deposits
Earn 10 XP per $1 of SolvBTC deposited, representing a 5x multiplier. This encourages SolvBTC users to ‘Put their Bitcoin to Work’ to obtain SolvBTC.ena, which is a liquid yield token that can be used to participate in BTCFi.
b. Participate in BTCFi
- Lending Protocols
Earn 6 XP per SolvBTC supplied, representing a 3x multiplier. This encourages users to lend their SolvBTC, facilitating liquidity and earning additional yields.
- Stablecoin Protocols
Earn 6 XP per SolvBTC deposited, representing a 3x multiplier. This incentivizes users to engage with stablecoin protocols, promoting stability and earning extra rewards.
- Perpetual DEXs
Earn 6 XP per SolvBTC supplied, representing a 3x multiplier. This encourages users to help enhance liquidity on perpetual decentralized exchanges, enabling them to earn a cut of trading fees.
- DEXs
Earn 8 XP per SolvBTC deposited, representing a 3x multiplier. This significantly rewards users who provide liquidity to SolvBTC pairs on decentralized exchanges, promoting liquidity and while enabling them to earn additional yields.
New & Improved UIUX on Our dApp: “Liquidity”
In addition to the Solv Points System upgrade, we have updated the frontend of our dApp with a new section named “Liquidity.” This section is designed to provide users with a comprehensive view of all SolvBTC integrations across various chains. Here’s what you can expect:
- Overview of Integrations: Easily access information about where SolvBTC is integrated and how you can utilize it across different platforms and chains.
- User-Friendly Interface: The new section offers a seamless browsing experience, making it simple for users to explore and take advantage of the various liquidity options available for SolvBTC.
- Regular Updates: Stay informed about the latest integrations and opportunities to maximize the utility and liquidity of your SolvBTC holdings.
Conclusion
The upgrade to the Solv Points System and the addition of the “Liquidity” section on our website represent significant steps forward in enhancing the SolvBTC ecosystem. We are confident that these changes will provide our users with greater incentives to actively participate and leverage the full potential of SolvBTC.
We remain committed to continuous improvement and innovation, ensuring that Solv Protocol remains a secure, innovative, and rewarding platform for all our users. Thank you for your ongoing support and engagement. We look forward to sharing more exciting updates with you soon.
Best regards,
Solv Protocol Team
