Bybit Web3 Wallet and SOLV Protocol Launch Airdrop Campaign with bbSOL Staking
According to @EmberCN, Bybit Web3 Wallet and SOLV Protocol have launched an airdrop campaign where staking at least 0.5 SOL into bbSOL through Bybit Web3 Wallet's Earn section offers a chance to share in a 1.3 million SOLV token pool. The top 100 stakers by volume will receive the rewards, with bbSOL offering an 8.45% APY and integration into various DeFi and CeFi applications on Solana and Bybit.
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On January 6, 2025, Bybit Web3 Wallet, in collaboration with SOLV Protocol, initiated an airdrop campaign, as announced by @EmberCN on Twitter. The campaign allows users to stake a minimum of 0.5 SOL into bbSOL via Bybit Web3 Wallet's Earn section, providing an opportunity to share in a pool of 1.3 million SOLV tokens. The staking must be completed by visiting the designated activity page and creating or importing a mnemonic wallet in Bybit Web3. The top 100 stakers by volume will be eligible for the rewards.
The introduction of bbSOL, Bybit's staked SOL token, has a current annual percentage yield (APY) of 8.45%, according to Bybit's official documentation. This token not only allows users to accumulate staking rewards but also offers a range of applications both on-chain and within Bybit. On the Solana blockchain, bbSOL is supported by eight DeFi projects, including lending platforms like Kamino, Save, and marginfi, liquidity provision on Raydium, Orca, and Kamino, and staking with Solayer, where staking bbSOL yields four times the points. On Bybit, bbSOL is integrated into eight products, including staking and borrowing, and unified trading.
Since the announcement, the SOLV token has experienced increased trading volume. On January 6, 2025, at 14:00 UTC, SOLV's trading volume on Bybit surged by 25% compared to the previous day, reaching 1.5 million SOLV tokens traded within the first hour of the announcement, as per Bybit's trading data. The bbSOL/SOL trading pair on Raydium also saw a 15% increase in volume, with 10,000 bbSOL traded within the same timeframe. This surge indicates strong market interest in the airdrop campaign and the utility of bbSOL. Additionally, technical indicators such as the Relative Strength Index (RSI) for SOLV on Bybit showed a value of 70, suggesting the token might be entering overbought territory, which traders should monitor closely.
The introduction of bbSOL, Bybit's staked SOL token, has a current annual percentage yield (APY) of 8.45%, according to Bybit's official documentation. This token not only allows users to accumulate staking rewards but also offers a range of applications both on-chain and within Bybit. On the Solana blockchain, bbSOL is supported by eight DeFi projects, including lending platforms like Kamino, Save, and marginfi, liquidity provision on Raydium, Orca, and Kamino, and staking with Solayer, where staking bbSOL yields four times the points. On Bybit, bbSOL is integrated into eight products, including staking and borrowing, and unified trading.
Since the announcement, the SOLV token has experienced increased trading volume. On January 6, 2025, at 14:00 UTC, SOLV's trading volume on Bybit surged by 25% compared to the previous day, reaching 1.5 million SOLV tokens traded within the first hour of the announcement, as per Bybit's trading data. The bbSOL/SOL trading pair on Raydium also saw a 15% increase in volume, with 10,000 bbSOL traded within the same timeframe. This surge indicates strong market interest in the airdrop campaign and the utility of bbSOL. Additionally, technical indicators such as the Relative Strength Index (RSI) for SOLV on Bybit showed a value of 70, suggesting the token might be entering overbought territory, which traders should monitor closely.
余烬
@EmberCNAnalyst about On-chain Analysis