Solv Protocol Adds Incentives For DeFi Projects To Join The Seahorse Initiative
Solv Protocol will implement an incentive program for its’ Seahorse Initiative partners to mint and trade vouchers actively. The duration of the incentive program will last 3–6 months, and will officially kick off around mid-august with the specific incentives being determined on a monthly basis based on market feedback during the previous month. Exact details of a starting date will be announced at a later time.
The plan for the first month of the program contains 4 different types of incentives as follows:
Rewards for the First 50 Projects
As incentive for encouraging DeFi projects to mint vouchers on both Ethereum and BSC, rewards will be given to each of the first 50 projects that mint their respective vouchers via Solv’s technology. Projects must apply to be eligible for the rewards and they will be sent out once the application is verified and the minting process has been completed.
Details of the rewards are as follows:
- Project №1 — №10: 3,000 SOLV tokens each
- Project №11 — №20: 2,500 SOLV tokens each
- Project №21 — №30: 2,000 SOLV tokens each
- Project №31 — №40: 1,500 SOLV tokens each
- Project №41 — №50: 1,000 SOLV tokens each
(Please Note: Rewards for the first 50 projects will continue until all incentives are given out, not only for the first month.)
Rewards for TVL
- As incentive for DeFi projects to lock more tokens into their respective vouchers, these rewards will be given out according to their TVL volume and corresponding lock-up duration. Projects must apply to be eligible for these rewards. Once the application is verified by Solv, the project will be listed in a whitelist for the reward.
- TVL rewards are planned as 35,000 SOLV tokens per week. Each project must submit an address for TVL rewards, upon which the rewards will be distributed directly to the given address.
- The TVL reward a project is eligible to win is determined by the weighted calculation of their TVL volume and corresponding lock-up duration. The duration is calculated by the time of lock-up tokens.
- The price of the TVL token is calculated by the price of the secondary market for the project with circulated tokens, or by 200% of the price of the previous round of funding for the project without circulated tokens.
- The maximum of TVL rewards for a project is 7,000 SOLV tokens per week.
- Solv reserves the right to lower the weight of corresponding projects while their liquidity on the secondary market is disproportionate.
Rewards for Auctioning Vouchers
- As incentive for projects to auction their vouchers on the marketplace of Solv Vouchers, these rewards will be given out according to corresponding trading volume. Projects must apply to be eligible for the rewards and their application will be verified by Solv. The rewards will be given out after the voucher auction (the payment token for the auction must be mainstream tokens).
Details of the rewards are as follows:
- Project with trading volume of $100,000 — $200,000: 2,000 SOLV tokens;
- Project with trading volume of $200,000 — $300,000: 3,000 SOLV tokens;
- Project with trading volume more than $400,000: 4,000 SOLV tokens.
Rewards for Purchasing Vouchers
- Solv Vouchers promises that anyone who purchased any voucher auctioned during the incentive schedule will be rewarded correspondingly. A detailed plan will be announced at a later date.
All rewards will be distributed in the form of vouchers (with SOLV tokens):
- All rewards will be calculated into corresponding vouchers accumulatively, but tokens in these vouchers will be ready for projects to claim when the circulation of SOLV ERC-20 tokens in the secondary market is determined.
- The reward vouchers will be released linearly through a year, and the release will start when SOLV ERC20 tokens begin circulation.
Contact Us: firstname.lastname@example.org