Solv x Merlin Incentive Program: Make BTC Yield Again!
Make BTC Yield Again
Background
Inspired by the motto of the Merlin Chain, “To Make BTC Fun Again!”, we launched our flagship product, SolvBTC, on the Merlin Chain. Simultaneously, we introduced the Solv Points System to incentivize users to participate in our airdrop. Since then, over 15,000 users on the Merlin Chain have engaged with our points system, with more than 7,000 Bitcoin staked on Solv. To add to the excitement, SolvBTC has been integrated into various protocols on the Merlin Chain, paving the way for a thriving BTCFi ecosystem on the chain.
To take this experience to the next level, Solv and Merlin have joined forces to launch a collaborative event: “Make BTC Yield Again!”
Lets Make Bitcoin Yield Again!
Make BTC Yield Again is designed to bring more yields to Bitcoin holders on the Merlin Chain. This incentive program will unfold in two phases, leading to the initiation of SolvBTC yield generation in May.
Solv will distribute a total of 400,000,000 Solv Points to SolvBTC stakers on the Merlin Chain during the event, while Merlin Chain will distribute 2,000,000 $MERL tokens to all SolvBTC stakers on the Merlin Chain.
Phase 1
Incentive: 400,000,000 Solv Points Farm
Eligibility: SolvBTC stakers on the Merlin Chain during the event.
Timeline: The event will commence on April 24, 2024, and last for 14 days.
Details: Stake mBTC on the Solv platform to acquire SolvBTC. Solv Points will be distributed based on the amount of SolvBTC staked during the event. Note that this incentive will not dilute the original token airdrop. Instead, a higher percentage will be allocated to the Solv airdrop in the future to compensate for this program.
Phase 2
Incentive: 2,000,000 $MERL tokens
Eligibility: SolvBTC stakers on the Merlin Chain
Timeline: Immediately following Phase 1
Details: $MERL tokens will be airdropped directly to SolvBTC holders based on the amount of SolvBTC staked.
Make Bitcoin Yield Again
SolvBTC will commence yield generation after Phase 2, through redacted, one of the prominent Bitcoin fund managers globally. SolvBTC users will have the flexibility to opt in and out of yield generation.
Summary
- 400 million Solv Points Farm to be distributed to SolvBTC stakers, based on the amount of SolvBTC staked during the event.
- SolvBTC staked on Solv will qualify for the $MERL airdrop.
- SolvBTC will commence yield generation after the incentive program.
- Through this incentive, Merlin’s Seal BTC users can quadtriple dip on rewards (Solv Points airdrop + Solv Points + $MERL airdrop + trading strategy yields).
- Users can potentially earn more airdrops by engaging with any of our partnered protocols on the Merlin Chain
Let’s make Bitcoin Yield Again!
