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Solv Protocol Introduces Convertible Vouchers, Changes the Game for DAOs

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Thu, 20/01/2022 - 15:00
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Solv Protocol Introduces Convertible Vouchers, Changes the Game for DAOs
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Solv Protocol, which integrates voucher-based instruments into the decentralized finance segment, unveils a new type of voucher to streamline the fundraising processes in decentralized applications and decentralized autonomous organizations.

Solv Protocol introduces Convertible Vouchers for more predictable fundraising in DAOs

According to the official announcement shared by Solv Protocol, its team adds one more next-gen product to its offering. Solv Convertible Vouchers are designed to eliminate liquidation risks for DAOs and their investors.

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Image by Solv Protocol

Every Convertible Voucher leverages a token of this or that DAO with zero liquidation risks. A Convertible Voucher for SOLV token is already accessible on Solv Protocol's testnet. Technically, it works not unlike non-fungible tokens and belongs to the ERC-3525 Ethereum-based token standard.

Issuers can customize maturity date, nominal token value and bond range to ensure secure and profitable fundraising for every early-stage product in crypto and Web3.

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Once the settlement date for the voucher is reached, it is executed like a bond: holders receive a payout from DAOs in accordance with the voucher's nominal value.

Unslashed issues first Convertible Vouchers on Jan. 29, 2022

Solv co-founder Ryan Chow is sure that his new product has all the chances to change the narrative in fundraising for all emerging DAOs and DeFis:

For project teams with relatively illiquid treasury, Convertible Vouchers is an optimal fundraising model with zero liquidation risk, low financing cost, and without having to sell the tokens. As a growing number of DAOs emerge in the market, we believe Convertible Vouchers will fulfill their fundraising needs and thus unlock a potentially trillion-dollar-size market in the DeFi space.

While every project can mint Convertible Vouchers for tokens on Solv's financial NFTs marketplace, the first voucher sale is scheduled for Jan. 29, 2022.

Related

Unslashed Finance, a decentralized insurance protocol, becomes the first DeFi to issue Convertible Vouchers in mainnet.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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