Solv Protocol Brings A DeFi Dream To Life: Dodo To List 50% Off Locked-Tokens Through Vouchers
Solv’s Seahorse Initiative partner, DODO DEX, will officially list their DODO Vesting Voucher on Solv’s internal marketplace on July 28th. This is the initial public offering of Solv Vouchers, which will officially open the Solv Voucher market with 100,000 $DODO Vesting Vouchers, with the price 50% lower than the average market price over the last 30 days. The purpose of this voucher listing is to provide long-term supporters of the DODO community with the chance to buy DODO shares at a substantial discount. A whitelist with only access for long-term supporters of the DODO community can be found here, including details about how to buy the vouchers!
The listing of DODO Vesting Voucher demonstrates the true potential of Solv Vouchers. In addition to helping projects manage their lock-up tokens via NFTs, a number of scenarios are also suitable to adopt Vesting Vouchers as an upgraded solution, such as airdrop incentives, mining incentives, and more. Incentivizing users with locked-up tokens, rather than spot tokens, will help projects build a more sustainable relationship with their community over the long term. The sale of DODO Vesting Voucher aims to connect the long-term supporters in the community with deeper interactions, thus establishing a tighter value network for the DODO community.
DODO has minted 100,000 $DODO into vouchers, which will be released linearly with the same schedule as its seed round investors. Its 24-months release process will start on September 29, 2021, which will be automatically executed by the smart contract. Holders can also transfer their vouchers in Solv’s internal marketplace or through other NFT trading platforms such as OpenSea. Users can also borrow against vouchers on NFT lending platforms like NFTfi.
This will open up a new paradigm to build communities, and community members will share the same opportunities of holding vesting tokens as investors, which are hard to achieve previously due to technical issues or the unaffordable costs of traditional solutions. With the innovation of Solv Vouchers, project teams now are able to establish deeper connections with all their community users by distributing vouchers to them. Projects such as Ruler Protocol, Saffron Finance, Impossible Finance, and Yield Guild Games have all started to design community incentives based on Solv Vouchers.
Diane Dai, co-founder of DODO said: “I’m pleased to see the progress Solv’s team has made at Financial NFT-as-a-Service. Solv has been working on convenient and efficient management for vesting tokens and corresponding trading solutions, which will help create an open and transparent market for these derivatives of lock-up tokens between projects and investors.”
Solv Seahorse Initiative
The Seahorse Initiative is an open community project initiated by Solv Vouchers to develop the potential of vouchers as Financial NFT in the crypto world for forward-thinking teams and projects. Solv will provide incentives to participants in the first phase of the voucher program. Projects who mint and issue Solv vouchers are subjected to incentives provided by the team. So far, Solv has partnered with projects including DODO, NAOS Finance, Saffron Finance, Parsiq, Bounce, Impossible Finance, Ankr, XCarnival, and more.
The Seahorse Initiative’s application remains open, all projects have to do is fill out a form on the website and the team will get back to you.