Solv Points System Update: Season 1 Ends, Season 2 Begins!
As we bid farewell to 2024, we’re thrilled to unveil the next steps for the Solv Points System. With Season 1 coming to a close and the launch of Season 2 on the horizon, there’s much to celebrate and anticipate. Whether you’ve been with us since day one or are just joining, here’s everything you need to know.
Quick Summary
- Season One Ends: January 7, 2025, at 00:00 UTC. The final snapshot will be taken before this time, and points will no longer accrue. No registration = no rewards!
- Season Two Starts: Begins immediately after, with the first snapshot a day later.
- Airdrop Allocation: 7.5% of the total $SOLV supply has been allocated as rewards for Season 1 participants and early supporters.
- Airdrop Checker: A dedicated tool to verify your Season 1 rewards and early user benefits will launch soon. Stay tuned for details on point-to-token conversion rules.
Reflecting on Season 1: A Historic Journey
Season 1 of the Solv Points System was a breakthrough for Bitcoin holders and the on-chain Bitcoin Reserve. Together, we achieved:
Reserve Growth: Over 25,000 BTC deposited to SolvBTC, solidifying our position as the leading on-chain Bitcoin Reserve.
Community Impact: More than 450,000 users joined the ecosystem, showcasing the strength and engagement of the Solv Protocol community.
Ecosystem Expansion:
- SolvBTC and SolvBTC.LSTs integrated across 10+ blockchains.
- Over 50 dApps adopted SolvBTC and its Liquid Staking Tokens, creating a thriving ecosystem of applications and services.
Innovation in LSTs: The launch of 4 unique Liquid Staking Tokens, each representing distinct yield sources for Bitcoin, redefined what’s possible in DeFi.
These milestones reflect the incredible commitment and shared vision of our community. Thank you for being a part of this historic journey!
Introducing Season 2: The Next Chapter
Season 2 kicks off on January 7, 2025, at UTC 0:00, representing the next step in our journey to expand the on-chain Bitcoin Reserve and unlock more opportunities for Bitcoin holders.
What’s New in Season 2?
Reserve Points (RP): Points are now called Reserve Points (RP), reflecting our mission to grow the on-chain Bitcoin Reserve.
BTC-Standard Base Rate:
- Points will now follow a BTC-based system: 1,000 RP per 1 BTC per day.
- This simplifies calculations and aligns rewards with Bitcoin’s inherent value.
Refined Incentives for BTC Assets: Points will be focused exclusively on Bitcoin-related products:
- SolvBTC: 1x multiplier.
- Liquid Staking Tokens (LSTs): 2x multiplier.
- DeFi Utilization: 3x+ multiplier.
- DeFi Vaults: 4x multiplier.
- Non-Bitcoin assets will no longer generate points, ensuring a sharper focus on core Bitcoin products.
Staking $SOLV for Boosts: Staking $SOLV tokens will soon provide opportunities to boost your RP earnings. Further details will be announced in upcoming updates.
Simplified Boosting Mechanics: In Season 1, users with higher TVL received additional boosts based on their position size. In Season 2, this mechanic will be removed, streamlining the system and focusing rewards on core BTC-related activities.
Participation Matters: Your eligible airdrop could be influenced by your participation in both Season 1 and Season 2. Keep earning RP to maximize your rewards!
What’s Next?
We know the community is eagerly awaiting the $SOLV token launch on January 17, 2025. Here’s what to expect:
- $SOLV Token Launch Details: A comprehensive article covering airdrop specifics, tokenomics, and our future roadmap will be released soon.
- Airdrop Checker: Launching shortly to help you verify your Season 1 rewards and eligibility.
Join Us in Season 2
Season 2 isn’t just a continuation — it’s a bold step forward. With new goals, expanded features, and innovative opportunities, we’re set to empower Bitcoin holders like never before.
Here’s to an even brighter future. Thank you for being the heart of Solv Protocol.
Solv more!
