Solv Protocol intends to change the narrative for public fundraising through its initial voucher offering (IVO) model. This is a new approach revolving around the IVO solution, which kicked off on Dec. 13. That date marks the first-ever public fundraising using the ERC-3525 token standard.

Fundraising is a compelling method for companies, startups and individuals to raise capital for a new idea or product without relying on venture capitalists. Solv Protocol aims to take the fundraising concept one step further through an IVO. This was the first time such a method was utilized, yet it offers tremendous potential for the future.

The purpose of an IVO is to mint financial nonfungible tokens (NFT) — called vouchers — containing ecosystem tokens. The vouchers are issued to early investors and adhere to the ERC-3525 token standard. The semi-fungible nature of the token standard allows users to use the vouchers and trade, manage, split or merge locked-up tokens as they see fit. Solv will issue 1 million SOLV tokens through the IVO, which began on Dec. 13 on the Binance NFT platform and Solv marketplace.

The use of financial NFTs combines the best of token standards. More specifically, it leverages the descriptive attributes of the ERC-721 token standard and the liquidity of ERC-20. Moreover, the new token standard introduces splitting and merging of financial NFTs, which has not been possible before. It also enhances the number of use cases for vouchers and paves the way for a new era of fundraising solutions. 

Ryan Chow, co-founder of Solv, explained the idea behind the IVO: “In today’s crypto world, attention is the scarce resource. In order to get users to play the long game, teams should make sure their interest and the users’ are well aligned. The best way to do so? Vesting tokens. So, we’ve devised IVO, a whole new way to get vesting tokens distributed — via Vesting Vouchers — and we believe it can become the cornerstone for strong and long-lasting project-user relationships.”

Every token using the ERC-3525 tokens standard, or, more specifically, voucher, exists as a semi-fungible token representing digital ownership of assets. These tokens can be acquired through secondary markets either in full or partially. This creates a new opportunity for NFTs to move beyond digital artwork and collectibles and into the financial world. 

An IVO can provide access to private sales while generating liquidity for both projects and investors in the current landscape. Moreover, vouchers have and maintain an intrinsic value as they have tokens locked within them. This makes them very different from existing NFTs that accommodate image and video file formats that remain primarily speculative in nature. 

Solv’s IVO model will have SOLV tokens locked inside vouchers. These tokens unlock linearly for six months from the public sale date. All investors’ tokens and team tokens are locked in the initial phase. This is the first time such a model has been used in a live environment.

The Solv IVO took place on Binance NFT and the Solv marketplace on Dec. 13. Make sure to keep an eye on Solv’s social media channels for the latest information, news and updates. 

About Solv Protocol

Solv is a pioneer in the world of financial NFTs and decentralized finance. It does this by having designed and created a new ERC token standard known as a versatile nonfungible token (vNFT) that is both flexible enough, like the ERC-20, but also nonfungible, like the ERC-721, making it a semi-fungible asset. The first vNFT token product was created in the form of a Solv Vesting Voucher, designed to be used in the form of allocations to grant broader access to private sales while generating much-needed liquidity for projects or investors.

Social channels

Website: https://solv.finance/

Twitter: https://twitter.com/SolvProtocol/

Telegram: https://t.me/SolvProtocol/

Discord: https://discord.com/channels/866371345247502366/866371345247502369

Medium: https://solvprotocol.medium.com/