Solv Protocol, a decentralized platform for creating, managing, and trading financial, has introduced its latest innovation, the Initial Voucher Offering (IVO).
The team has now offered a new unique method of raising revenue to the crypto world.
The protocol has a unique standing amongst the other protocols in the industry currently. It fabricates a unique spendable NFT, a non-fungible token with an individual working principle that differs from the general cliché available to crypto users globally.
The token is coined the ERC-3525 token, and it was fundamentally developed to verify the right of the investing public to perform financial transactions. The protocol’s fundraiser will utilize the semi-fungible ERC-3525.
The protocol’s creative innovation can be considered a part of the innovation trend that has taken the crypto industry by storm this year. The trend is considered a prelude to next-gen framework that will ensure the sustained relevance of the industry, by various experts.
The IVO Protocol
The Initial Voucher Offering (IVO) can be considered the cryptocurrency counterpart of the traditional finance sector’s Initial Public Offer (IPO).
The IVO differs from the crypto industry’s mainstream Initial Coin Offering (ICO) because of its semi-fungibility uniqueness.
The traditional revenue generation mechanism sees a company publicly sell its shares to interested investors, both institutional and individual.
Solv’s IVO brings this service to the cryptocurrency industry in an unconventional manner. The protocol introduces semi-fungible tokens for revenue generation in the crypto industry. This innovation is unique and is the first of its kind that the industry has seen.
It Leverages the up-and-coming realistic web 3.0 protocol to integrate the desired Blockchain network.
The protocol has a unique standing amongst the other protocols in the industry currently. It fabricates a unique spendable NFT, a non-fungible token with an individual working principle that differs from the general cliche available to crypto users globally.
The token is coined the ERC-3525 token, and it was fundamentally designed to verify the right of the investing public to perform financial transactions. The protocol’s fundraiser will utilize the semi-fungible ERC-3525.
The ERC-3525 tokens are semi-fungible, unlike their non-fungible mainstream counterparts. It’s semi fungible in the sense that although each of them is independent of one another, they can be divided and paired against each other for derivatives trading like the normal Ether and ERC-20 tokens.
The ability of Solv’s ERC-3525 tokens to separate and later fuse creates an enabling environment for the trading public holding the token to invoke a more flexible and innovative trading approach.
Solv Will Use It’s IVO Publicly For The First Time in December
Referenced from the protocol’s announcement on its social media-Twitter page, it will commence the sale of its native token on the centralized exchange, Binance’s new NFT platform. The protocol’s IVO will be used for the initial sales.
The public launch will take place in December. The IVO will supply 1,000,000 units of the protocol’s native token SOLV to the general public on December 13, 2021, according to the Solv Protocol.
The first fundraising round through the token’s sale will concurrently occur on Binance’s NFT platform and its own Solv platform.