Recapitulation of Solv Finance PROJECT AMA event held at AMA LOVERS CLUB.
Date: Monday, 29th November, 2021
Time: 14:00 UTC
The Solv Finance PROJECT team was represented by @Ryanchow1 who judiciously shared with us detailed knowledge and information about Solv Finance PROJECT.
1st Segment: INTRODUCTION
Q1: Could you briefly introduce yourself as well as Solv?
ANS: Yes, 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 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.
Above is a visual explanation
How big is the Solv. team?
We have 20+ people in the team now
Q2: Can you briefly describe top milestone that Solv has achieved?
ANS: Yes, 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.
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 mainnet launch in June, Solv has reached $70 M+ in total value locked (TVL) and boasts 2000 unique Voucher owners!
We have also bought a $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? How can this unique value proposition prove to be a defining solution in DeFi?
ANS: Good question! 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 continue bringing 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: Can you briefly explain what Solv Voucher is all about? What value do you believe it can bring to retail investors?
ANS: Based on Solv Protocol, Solv Vouchers is the DeFi application for users to create, manage, and trade Vouchers.
Through the smart contract of Solv Vouchers, digital assets like tokens could be transformed into Vouchers representing investment allocations as splittable, composable NFTs.
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 a 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) were issued on the Solv Marketplace, with a unit price of $0.49633 when the DODO spot price was $1.02. Now, it’s 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?
ANS: IVO = 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 the upcoming 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.
The community members would like to know if $SOLV's IVO is worth getting involved with!😁
Q6: Finally, I will have to ask about how the IVO will work been a new technique.
Could you introduce the rules of IVO for us and how to participate in it?
ANS: Absolutely, here is the guide 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.
Here is the guide to get your address added to the whitelist?
1. Participate in the Gleam campaign.
2. Participate in the activities held by Solv partners
Details will be shared soon.
Please note that the addresses which are successfully added to the whitelisted need to pass the KYC, and it should be first come first serve.
2nd Segment: LIVE Questions
Q1: Is Solv protocol already live in mainnet or is it still in testing phases ? and if it's live right now, what features are currently available ?
ANS: It’s alreay on BSC, ETH, Polygon. The mainnet has been up for 4 months and we are doing a upgrade now. There are already 20 projects using Solv.
Q2: Why did Solv Finance introduced the Fractionalized NFT Standard (vNFT) into the NFT space? What problems will it solve?
ANS: Financial NFT must be splittable as financial assets are semi fungible. For example, you are my investor and you have 100 of solv’s allocation. If you want to share this allocation with others, you cannot do this under ERC721, which is not splittable. Solv is solving this problem and made it splittable, which shows the advantage of vNFT.
Q3: How do individual users use Vouchers? How do users manage their Vouchers and what wallets are currently available?
ANS: You can trade vouchers in Solv’s marketplace. You can manage your vouchers in solv’s dashboard, where you can claim the token, split the voucher, list and unlist the voucher. We recommend to access the solv’s marketplace on your PC with metamask.
Q4: I saw YIN Finance join Solv Finance to manage project liquidity. So, can you give us more information about this association? How will YIN and Solv benefit each other? Where can we find YIN Vouchers?
ANS: YIN is using solv vouchers to manage investors’ token. The team do not need to build its own vesting contract. The investors can have liquidity before the tokens get unlocked by borrowing against it.
Btw, Yin vouchers are in the hands of the investors. If someone wants to sell it, you can find it on solv’s marketplace. 😁
Here is the link to the marketplace: https://app.solv.finance/marketplace
Thank you for your questions! I saw many good questions, please follow my twitter and I will post answers to other questions I don’t get a chance to answer 😁
Follow Us On Our Various Social Media Communities For More Update;
You can find our info here:
- Official Website: https://solv.finance/
- Twitter: https://twitter.com/SolvProtocol
- Medium: https://solvprotocol.medium.com/
- Telegram: https://t.me/SolvProtocol
- Discord: https://discord.com/invite/ewpb9jqzyD
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