Binance Labs Announced Its Strategic Investment In Solv Protocol In 2022!

Solv Protocol is a decentralized platform for creating, managing, and on-chain trading Financial NFTs that broadly represent financial ownerships and rights, such as Vouchers. A voucher is an NFT container for digital assets with features such as splitting and merging. It can significantly enhance liquidity for locked assets and has proved to be useful in numerous use cases across DeFi.

Vesting Voucher by Solv Protocol is a splittable NFT structure that can lock up ERC-20 assets. For investors, it is a low-cost and frictionless solution for trading and managing allocations. An Initial Voucher Offering (IVO) is a public offering where allocations of a project’s native tokens are locked and sold in Vouchers to average investors that would previously like to invest in early-stage teams but couldn’t do so. 

As part of this strategic investment, these two firms will collaborate on launching NFTs on Binance NFT marketplace and on helping Binance Labs portfolio companies to issue Financial NFTs.

Peter Huo, Investment Director at Binance Labs, said “As a decentralized marketplace for Financial NFT, Solv Protocol is pioneering its own area of NFT. We believe in the future synergies that Binance and Solv will have, especially Financial NFTs such as vouchers have huge room for growth given their proven prevalence in traditional finance. We look forward to working closely with the Solv team to explore innovations in DeFi.”

“The most pressing problems in the emerging field of DeFi is the absence of an efficient and flexible tool to express complicated financial contracts. Solv Protocol offsets the gap by bringing to the table financial NFTs and a marketplace designed specifically for creating and trading financial NFTs. With Binance Labs being our strategic investor, we are one step closer to building a better financial NFT ecosystem. I believe that all parties are going to benefit from taking a part in this innovative and fast-growing sector of the crypto world.” said Mike Meng, co-founder of Solv Protocol.

Solv Protocol has partnered with over 30 DeFi projects, all of whom have minted their own Vesting Vouchers with underlying token assets. As of January 10, the TVL of Solv has reached all-time high of $260M. Solv is preparing to launch ‘Convertible Voucher’, a financing tool that helps DAOs to get liquid assets by leveraging native tokens, while minimizing the risk of liquidation.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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