Postpone the Vesting Schedule for the $SOLV Flexible Vouchers for 1 Year

Overview This is an on-chain proposal to postpone the vesting schedule for the $SOLV Flexible Vouchers from 2022-09-30 to 2023-09-30.

Background From a macro perspective, we anticipate a deepened liquidity crisis across the global financial market, which we believe will add to the choppiness of crypto’s current market condition. As the liquidity across CEXes dries up, the prices of newly released tokens during this time will not truthfully reflect their values. The crisis will likely be furthered by two additional interest rate hikes (approx. 75 bp) from the Fed, which are expected to happen in the near term. Initially, the last day $SOLV Flexible Vouchers were scheduled to begin linearly vesting is 2022-09-30. Our macro outlook, if correct, won’t bode well for $SOLV’s valuation if this schedule follows through. Therefore, a consensus was reached among Solv’s core members to postpone the original vesting schedule until 2023-09-30 (for 1 year), as a way to protect and maximize the interest of those holding the Flexible Vouchers and expecting to trade $SOLV openly when the vesting is underway.

Timeline for the voting: Lower house round (Discord round) for this draft starts on t+5 (August 28, 2022 at 00:00 UTC), through this link: https://dyno.gg/form/33056004 [Completed] The tally result: t+6 (August 29, 2022 at 00:00 UTC) [Completed] If passed (i.e., more votes in support of the draft than not), we’ll put up an on-chain vote on t+7 (August 30, 2022 at 00:00 UTC) on Snapshot. The vote will be live for 72 hours. Snapshots are taken pre-voting, which will determine your eligibility based on your Flexible Voucher holding (or lack thereof). [Ongoing] Final decision: t+10 (September 2, 2022 at 00:00 UTC)

How’s Solv’s future looking? Financially, Solv has sufficient liquid funds (approx. $10M in treasury) to cover operations and expenses for at least 3 years. In addition to our cash reserves, Solv eyes another $10M funding in the near future, either through the equity financing avenue or debt financing. Product-wise, the coming 6 months will see major changes in product philosophy and design, along with an all-new visual language for the dApp and official website. A new type of Voucher will be released at the same time, offering a fresh boost to the protocol’s TVL, and volume of trade, among other metrics.

Solv’s latest stats:
$56M in TVL $30M in bond issuance $10M in monthly volume of trade Weekly top NFT collection on BNB chain at 352.73 $BNB in weekly volume (Source: https://twitter.com/BSCNews/status/1556392271750258688)

If this proposal passes, the vesting schedule for SOLV Flexible Voucher will be postponed by one year, from 2022-09-30 to 2023-09-30. With that said, community feedback is highly appreciated! If there is any confusion, please specify.

Cheerio,

The Solv team