Difference between revisions of "Solidly (SOLID)"

Revision as of 05:00, 7 March 2022

ve(3,3) is built on Fantom and will include an emission-based incentive structure and an AMM.

Basics

Based in:
Started in / Announced on: 6-1-2022
Testnet release:
Mainnet release:

History

Got launched with a lot of traction in February 2022 but it's co-founder Andre Cronje announced his departure from DeFi in early March, leaving people wondering what will happen with Solidly from here on out.

Audits & Exploits

Bug bounty program can be found [insert here].

Bugs/Exploits

Governance

Admin Keys

DAO

Treasury

Token

Launch

Token Allocation

Its project NFT will be released for the top 20 projects in Fantom chain in terms of TVL.
From this thread (11-1-2022):

"On a weekly basis, 2000000 tokens are available as incentives on pools. Tokens are then distributed based on current voting weights. Locked ve(3,3) will be given to projects in Top 20. These projects can then decide how to direct incentives."

Utility

Other Details

Stablecoin

Coin Distribution

Technology

Whitepaper or docs can be found [insert here].
Code can be viewed [insert here].

Implementations

Built on: Fantom

How it works

From this thread (11-1-2022):

"1/ Weekly emissions adjusted as a % of circulating supply As more tokens are vested, impact of emission is decreased

2/ Ve lockers increase holdings proportional to weekly emission

3/ Ve locks are NFTs As opposed to the non-transferrable ve mechanics, tokenizing the lock position allows locks to be traded on the secondary markets."

From this deep dive (7-2-2022):

"Starting with its ve-tokenomics, Solidly behaves very similarly to Curve, with some major caveats. For Curve, veCRV holders receive 50% of fees no matter what gauges they vote for. This, of course, can be problematic as someone who owns veCRV could vote for a pool that generates no fees for Curve, yet they still receive 50% of the protocol’s aggregate fee revenues. Solidly attempts to solve this issue by making it that you only receive fees from the pools you vote for. Therefore, participants are incentivized to vote for the pools with the highest fees as that is the only way in which they receive cash flows from the protocol.

The other caveat has to do with emissions. For Curve, emission of future CRV tokens is based on a pre-determined release schedule. Every day, X number of tokens will be emitted according to the project’s code. Although how those tokens get emitted is based upon the incentivized pools, the aggregate amount of CRV tokens released daily is predicable for the foreseeable future. Solidly takes a different approach for how emissions should be done (From here on out, the token of Solidly will be referred to as ROCK).

Another caveat is an anti-dilution provision. Solidly aims to emit ROCK without diluting older holders of ROCK. It does this in a simple manner, actually. If you lock your ROCK as veROCK, you receive the necessary number of weekly emissions to maintain your previous share over Solidly. If your locked position amounted to 1% of Solidly, your position would remain at 1% even after any further emissions occur. In order to not get their % of Solidly diluted, ROCK holders are incentivized to lock as veROCK, thus ve(3,3)!

The last difference with the Curve ve system is that veROCKs are NFTs. By making them NFTs, it allows veROCK to be traded in secondary markets and used as collateral. Effectively, you do not lose out on the capital efficiency of ROCK by locking it as veROCK."

Fees

Upgrades

Staking

From this thread (11-1-2022):

"ve(3,3) will not distribute fees in native token, or as a stable, but instead as the asset in which fee was accrued, and it is passed on."

Validator Stats

Liquidity Mining

Scaling

Interoperability

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

Can be found [Insert link here].

Usage

Projects that use or built on it

Competition

It's a new exchange, an AMM, but instead of being controlled by liquidity providers (LPs), it's controlled by the protocols.

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

Full team can be found [here].
Andre Cronje
Daniele Sesesta

Funding

Partners

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31

@@ Line 1: / Line 1: @@
+[[ve(3,3)]] is built on [[Fantom (FTM)|Fantom]] and will include an emission-based incentive structure and an [[Automated Market Makers (AMM)|AMM]].
 ==Basics==
 *Based in:
-*Started in / Announced on:
+*Started in / Announced on: [https://avgjoescrypto.substack.com/p/ve33-an-introduction-into-the-new?r=r78rm&utm_campaign=post&utm_medium=web&utm_source=direct&s=r 6-1-2022]
 *[[Testnet]] release:
 *[[Mainnet]] release:
-*ve(3,3) is built on [[Fantom (FTM)|Fantom]] and will include an emission-based incentive structure and an [[Automated Market Makers (AMM)|AMM]].
 ==History==
+* Got launched with a lot of traction in February 2022 but it's co-founder [[Andre Cronje]] [https://twitter.com/AntonNellCrypto/status/1500405473337565191 announced] his departure from [[DeFi]] in early March, leaving people wondering what will happen with Solidly from here on out.
 ==Audits & Exploits==
 *[[bug bounty|Bug bounty]] program can be found [insert here].
@@ Line 20: / Line 24: @@
 * From this [https://twitter.com/sandraaleow/status/1480902027483832321 thread] (11-1-2022):
-''"On a weekly basis, 2000000 tokens are available as incentives on pools. Tokens are then distributed based on current voting weights. Locked ve(3,3) will be given to projects in Top 20. These projects can then decide how to direct incentives."''
+''"On a weekly basis, 2000000 [[tokens]] are available as incentives on pools. Tokens are then [[distributed]] based on current voting weights. Locked ve(3,3) will be given to projects in Top 20. These projects can then decide how to direct incentives."''
 ===Utility===
@@ Line 40: / Line 44: @@
 ''3/ Ve locks are [[Non Fungible Tokens (NFTs)|NFTs]] As opposed to the non-transferrable ve mechanics, tokenizing the lock position allows locks to be traded on the secondary markets."''
+* From this [https://avgjoescrypto.substack.com/p/ve33-an-introduction-into-the-new?r=r78rm&utm_campaign=post&utm_medium=web&utm_source=direct&s=r deep dive] (7-2-2022):
+''"Starting with its ve-[[tokenomics]], Solidly behaves very similarly to [[Curve Finance (CRV)|Curve]], with some major caveats. For [[Curve]], veCRV holders receive 50% of [[fees]] no matter what gauges they vote for. This, of course, can be problematic as someone who owns veCRV could vote for a pool that generates no fees for Curve, yet they still receive 50% of the protocol’s aggregate fee revenues. Solidly attempts to solve this issue by making it that you only receive fees from the pools you vote for. Therefore, participants are incentivized to vote for the pools with the highest fees as that is the only way in which they receive cash flows from the protocol.''
+''The other caveat has to do with emissions. For Curve, emission of future CRV tokens is based on a pre-determined release schedule. Every day, X number of tokens will be emitted according to the project’s code. Although how those tokens get emitted is based upon the incentivized pools, the aggregate amount of CRV tokens released daily is predicable for the foreseeable future. Solidly takes a different approach for how emissions should be done (From here on out, the [[token]] of Solidly will be referred to as ROCK).''
+''Another caveat is an anti-dilution provision. Solidly aims to emit ROCK without diluting older holders of ROCK. It does this in a simple manner, actually. If you lock your ROCK as veROCK, you receive the necessary number of weekly emissions to maintain your previous share over Solidly. If your locked position amounted to 1% of Solidly, your position would remain at 1% even after any further emissions occur. In order to not get their % of Solidly diluted, ROCK holders are incentivized to lock as veROCK, thus ve(3,3)!''
+''The last difference with the Curve ve system is that veROCKs are [[NFTs]]. By making them [[Non Fungible Tokens (NFTs)|NFTs]], it allows veROCK to be traded in secondary markets and used as collateral. Effectively, you do not lose out on the capital efficiency of ROCK by locking it as veROCK."''
 ===Fees===
@@ Line 81: / Line 95: @@
 Making these free wiki pages is fun but takes a lot of effort and time.
-If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
+If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information.
 [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
 [[Category:Coins/Tokens]]