AMA Recap 404 Daily Crypto with Solv Protocol

9 min readNov 24, 2021

Hello 404 Daily Crypto Community

On the 23rd of November 2021, at 01:00 PM UTC (20:00 WIB), e just successfully hosted our 77th AMA with Solv Protocol, With our guest representative from Solv Protocol team,

Ryan Chow, Solv Co-Founder

Many of you might have participated or many of you not, So here we are up with the AMA transcript for those who missed the AMA session.

Introduction Questions Asked By 404 Daily Crypto Team

Q1: Could you briefly introduce yourselves as well as Solv?

Hello everyone, 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 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?

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 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

Before going to the last question, I have one question. 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.

Q5: Could you introduce the rules of IVO for us and how to participate in it?

This chart contains the key metrics for Solv IVO

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.

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 posted soon.

Please note that the addresses which are successfully added to the whitelisted need to pass the KYC. And it should be FCFS.

Questions asked on Twitter for Solv Protocol team

Q1 From Twitter username @dany_lalla
Now in crypto the biggest problems are security in recent days there are many projects that had been hack that took the user assets, So how do you ensure the security of Solv project do you have any insurance for this and what are you doing for security of your platform?

Solv Protocol is designed to protect users’ assets. To further our commitment, we work closely with world-class blockchain security solutions to defend our users’ assets from external and internal risk factors. We are proud to say that our source code has successfully passed the audits by both SlowMist and CertiK, key blockchain security organizations, and is on schedule to be audited by a third security network.

In the pursuit of higher protocol security, Solv has purchased $1million USD worth of insurance coverage through Tidal Finance and $3 million USD of insurance coverage through Unslashed. This allows the Solv users to get insured over SC risk. The current plan covers smart contract vulnerabilities deployed on Ethereum and Binance Smart Chain. Needless to say, this is quite momentous as this is the FIRST time Defi insurance is being applied to the NFT sector!

Besides, we are offering a $50,000 bug bounty to incentivize developers and white hats to help us secure our protocol by uncovering its vulnerabilities and shortcomings. And we are pleased to be able to launch this undertaking with Immunefi, which is a leading bug bounty platform experienced in the testing and securing of Defi protocols.

Q2 From Twitter username @Julia50099594
I am very interested in the name of your project so I want to invest but currently, your project has no information about the token that makes me wonder. Would you give me an overview of the current total supply and where can we buy your tokens?

To buy the SOLV tokens, you can 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.

The date is Dec. 6th. Don’t miss it!

Q3 From Twitter username @imwiiw27
IVO is a brand-new issuing method. What distinguishes IVO from the prior initial public offering of tokens? As a user of SOLV protocol, I want to know if $SOLV’s IVO is worthwhile to participate in?? Could you please explain the terms of IVO to us and how we may participate?

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.

Q4 From Twitter username @AlexaBaluran
Collaboration and partnerships are one of the cornerstones to making DeFi more widespread, Can you share some of the partnerships you have formed with existing blockchain foundations recently??

You can see the Current TVL, Partners, and Activities of our program on the Overview page of our website. https://solv.finance/overview

As of now, we have over 2,000 Voucher users, 20 project partners, and our Current TVL has exceeded $70 million.

Q5 From Twitter username @Alicewonder1202
Solv Protocol is the decentralized platform for creating, managing and trading Financial NFTs with more tangible scenarios of finance. What are these scenarios, and how would them influence the digital finances?

One of the main goals of Vesting Vouchers is to completely upgrade allocations management experience with more even asset liquidity. And the following three characteristics of Vouchers will make sure the goal is met:

(1) Vesting Vouchers are transferrable. Thanks to their NFT-ness, anybody who owns a Voucher automatically has a right to its underlying tokens, as well as the right to retrieve them.
(2) Vesting Vouchers are tradable. All Vouchers are tradable on the DeFi marketplace such as OpenSea. It’s also entirely possible to put them up as the loan collateral (NFTfi or Taker) or a group of vouchers packaged and issued as ERC-20 tokens on derivatives platforms such as Unicly and DoDo.
(3) Vesting Vouchers are fractionalizable. Thanks to Solv Protocol’s original token standard with the feature of splitting and combining, Vouchers are supported by ERC-721 compliant infrastructures and are completely fractionalizable.

Questions asked by our 404 Daily Crypto community members during live Session to Solv Protocol team

Q1 From Telegram username @Ayana_Cronin_1992
I can’t find enough information for tokenomics on the website. Can you provide more details? What percentage of bets have you made? Will your platform go the coin burning route?

This will be announced soon. Our team and investor’s token will not be released in the first year.

Q2 From Telegram username @Beverly_lyles_1990
Can you share Your opinion about Defi & NFT? What makes your NFTs rate and special?

Solv is focusing on financial NFT, if we make it versatile for every aspect, it won’t be the best choice for financial aspect. Our financial NFTs can use AMM model for pricing and trading. Highstreet has built one for Vouchers to ERC20 tokens.

Q3 From Telegram username @topind7
Is there any tutorial guide to buy your token so as to not be scammed because there are still a lot of crypto newbies among us?

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 are the only 2 ways to participate our IVO.

Q4 From Telegram username @DeeCartwright
Where i can get all the latest news about? Do you have Twitter/Telegram/Discord community? If yes can you share the link here because there is a lot of fake Telegram/Twitter groups?

If you don’t want to miss our IVO, you will definitely come to our follow our official account:
Twitter： https://twitter.com/SolvProtocol
Telegram: https://t.me/SolvProtocol
Discord： https://discord.gg/Q52FDfxy
Website : https://solv.finance/home

Q5 From Telegram username @anisharuff
Revenue is an important aspect for all projects to survive and sustain. So how does your project plan to generate profit and revenue?

Solv will charge a 1.5% transaction fee from the successful 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 media.

Here are some important links of Solv Protocol

▶️ WEBSITE: https://solv.finance/
▶️ TWITTER: https://twitter.com/SolvProtocol
▶️ DISCORD: https://discord.gg/Q52FDfxy
▶️ TELEGRAM: https://t.me/SolvProtocol
▶️ MEDIUM: https://solvprotocol.medium.com/
▶️ GITHUB: https://github.com/solv-finance

AMA Recap 404 Daily Crypto with Solv Protocol

Introduction Questions Asked By 404 Daily Crypto Team

Questions asked on Twitter for Solv Protocol team

Questions asked by our 404 Daily Crypto community members during live Session to Solv Protocol team

Here are some important links of Solv Protocol

Written by 404 Daily Crypto