tl;dr
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We welcome Solv, a Bitcoin staking protocol that unlocks liquidity and maximizes the utility of idle Bitcoin assets, to PancakeSwap’s Initial Farm Offering (IFO) on BNB Chain
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PancakeSquad NFT holders and point holders (≥ 1600 points) are eligible for the Private IFO with 10% allocation, while the remaining 90% will be open to a Public IFO
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Flat participation fee of 1% for the Public IFO, 0% Participation Fee for the Private IFO
IFO Timeline
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IFO Details Posted: 14 Jan 2025, 1000 UTC
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IFO Duration: 16 Jan 2025, 1000 UTC - 17 Jan 2025, 1000 UTC
Please comment under the forum topic if you have any questions about the IFO
What is Solv?
Solv Protocol is a Bitcoin staking protocol, aiming to unlock Bitcoin’s full potential by transforming over $1 trillion of idle BTC into yield-generating assets and becoming the on-chain reserve for Bitcoin in DeFi.
Through its Staking Abstraction Layer, SolvBTC, and SolvBTC.LSTs (Liquid Staking Tokens), Solv Protocol enables both retail and institutional investors to capture diverse yield opportunities without sacrificing liquidity by seamlessly integrating Bitcoin into DeFi ecosystems.
What is SOLV?
SOLV is Solv Protocol’s native utility token and has the following functions:
- Governance: SOLV token holders/stakers can vote on network governance decisions
- Staking: SOLV stakers on the Staking Abstraction Layer can earn protocol emissions
- Fee Discounts: SOLV token holders can enjoy fee discounts, including redemption fees for SolvBTC
SOLV Token Distribution
If any of the terms are unclear, please ask our community ambassadors, or read this article on vesting.
IFO Details
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Chain: BNB Chain
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Start date: 16 Jan 2025 1000 UTC
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End date: 17 Jan 2025 1000 UTC
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Amount to be raised: USD $100,000 in CAKE tokens
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IFO tokens: 3,220,000 SOLV (0.0333% of SOLV’s max supply)
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Price per token: 1 SOLV = $0.0310559006 USD
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Token vesting schedule: 100% unlock at TGE
All CAKE raised from the SOLV token IFO will be given to the IFO project
Method: Public IFO and Private IFO (both conducted via the Overflow method)
What is the “Overflow” IFO method?
In the “Overflow” IFO method, the more funds a user commits, the more IFO tokens they will get, and they’ll get back any unspent funds. Users can commit as much as they want to the IFO, and their final allocation will be based on the proportion of their committed funds versus the total pool of committed funds when the IFO ends. Users will get back any leftover funds when they claim their tokens after the IFO.
To participate in the IFO:
How to participate in the Private IFO
BOTH PancakeSquad NFT holders and point holders will get to participate in this IFO’s Private IFO.
To participate in the IFO, you can either
- Set a Pancake Squad NFT as your Pancake Profile avatar
OR
- Have ≥ 1600 PancakeSwap Profile Points
Do not have enough points to join the Private IFO? Don’t worry! You can grab your Pancake Squad NFT here to gain access to the Private IFO.
To check the number of points you have, perform the following steps:
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Click on the wallet dropdown menu on PancakeSwap’s website
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Go to your profile
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Check the points that you have
To make sure that your points record is the most up-to-date, please check if you have any unclaimed tokens from previous IFO/cIFOs. Once you have successfully claimed those tokens, your points record will be updated!
How to participate in the Public IFO
Refer to the IFO participation guide.
iCAKE cannot be used to buy tokens in the IFO, so you would need a separate amount of CAKE to commit to the IFO.
For this IFO, we have decided on a 4x iCAKE:veCAKE Ratio to encourage users to participate. In other words, if you have 1,000 veCAKE, you’ll be able to commit up to 4,000 CAKE in the IFO.
The iCAKE Ratio is a multiplier applied on a user’s veCAKE value, to arrive at the iCAKE value. Please refer to our Documentation for more details.
An Explainer: What are the 2 different IFO sessions?
Private IFO ($10,000, 10% of total allocation)
For the Private IFO, participants are required to:
- Own a Pancake Squad NFT, and set them as your Pancake Profile avatar OR have ≥ 1600 Points.
For this Private IFO, the maximum amount of funds that can be committed per user is $200.
The final allocation you receive will still be subject to the total amount raised in this session.
Public IFO ($90,000, 90% of total allocation)
As the name suggests, the Public IFO is open to all. Your iCAKE value will determine how much funds you can commit to the IFO.
Participation Fee
In the Public IFO, the participation fee is 1%. This participation fee is applied on a user’s committed funds less the amount used to purchase the IFO tokens, and will be used to buy back and burn CAKE tokens. Hence, the more oversubscribed an IFO is, the more CAKE tokens will be burned via the participation fee.
In the Private IFO, there is zero participation fee.
Please do your own calculations and only commit funds that you are comfortable with.
To learn more, visit the project’s official channels:
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Website: https://solv.finance/
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Twitter: x.com
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Discord: Solv Protocol
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Telegram: Telegram: Contact @Solv_Protocol
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Audits: https://docs.solv.finance/security/smart-contract-audits/audits
BEWARE OF ONCHAIN DANGER
SOLV Official Token Contract Address: Solv (SOLV) Token Tracker | BscScan
Any other SOLV token will be a scam and will result in financial loss. Always verify the token address before buying tokens.
Disclaimer - All projects are subject to high market risk and volatility. Please do your own research and buy with caution. PancakeSwap will not be held responsible for any investment losses.