TechFlow reports, on January 4, Ryan Chow, co-founder of BTCFi project Solv Protocol, posted a statement saying, "After enduring a full day of baseless public attacks yesterday involving '1,800 RUG' and 'private agreements,' today Solv has faced even more absurd allegations. These accusations uniformly target the core issue of asset security, yet are based on errors and contradictions, attempting to mislead the public through confusion. In response, we have decided to directly address these false claims with facts."
In response to Nubit co-founder Hans' allegation regarding the misappropriation of underlying BTC from SolvBTC.BBN, Chow clarified that the mempool transaction cited by Hans was actually a routine operation of SolvBTC.CORE. According to the project's mechanism, SolvBTC.CORE must re-stake BTC to a new script address every two weeks. The last staking occurred on December 19, with withdrawal and re-staking taking place on January 2, which also explains the address update submitted to DeFiLlama.
Additionally, regarding质疑 about the decline in TVL of SolvBTC.BBN during Babylon Cap3, Chow explained this was due to the activation of the normal redemption mechanism, precisely demonstrating the product's liquidity and flexibility. He also refuted market speculation about the so-called "BTC triple bloom," the claim that the same BTC was counted three times in TVL calculations.
Chow emphasized that as a project with four years of development, facing such orchestrated attacks at the sensitive moment just before its TGE (Token Generation Event), Solv has provided ample on-chain evidence and technical documentation, inviting both the market and users to make their own judgments.
