Solidex (SEX)
Fantom’s native boost aggregator Solidex (SEX) which works mainly towards Solidly
Basics
History
- From this blog (8-3-2022):
"While Solidly was launching, Fantom’s native boost aggregator Solidex (SEX) also deployed its SEX token and liquidity mining rewards in partnership with eight other veSOLID NFT recipients, most notably Curve Finance, Multichain & Yearn Finance."
Audits & Exploits
- Solidex currently offers no Bug Bounty program (4-3-2022).
- Scored 23% on DeFi Safety (4-3-2022):
"Solidex is currently unaudited, although there is one reportedly underway. Contract SexPartners.sol is used 10 thousand times a day. This protocol's software architecture is documented in full. There is partial coverage of deployed contracts by software function documentation. There is implied traceability between software documentation and implemented code. Few contracts are covered. No evidence of testing is documented in the Solidex GitHub repository. Solidex has not undergone a formal verification test."
With the comment:
"Their whitepaper and contract addresses certainly deserve a right swipe, but it is evident from the lack of admin control docs that users might feel an itch below the belt if they act on their impulses. All of this to say: we are concerned that more than $1b is locked in a protocol that virtually offers no more than contract addresses to interact with. Users don't have any indication of security, reliability, or transparency. Be careful."
Bugs/Exploits
- From this blog (8-3-2022):
"An issue regarding Solidex’s gauge votes was discovered, leading to a problem-plagued first round of SOLID emissions voting. According to the team’s security disclosure, an error in a key smart contract resulted in votes from vlSEX holders (for gauges to receive SOLID emissions) being reset to Solidex’s default state upon submission to Solidly. As a result, the hardcoded default state caused all votes to be directed to the SEX/wFTM and SOLIDsex/SOLID pools, causing these two pools to receive all the voting power from Solidex. Due to the immutable nature of the blockchain, this bug is likely to haunt every voting round as a solution has not been found yet."
Governance
Admin Keys
- From DeFi Safety (4-3-2022):
"There is no specific admin control information regarding contract upgradeability or immutability. Although there is mention of planned immutability, the details are extremely limited in scope. Although a multisig is inferred, there is no clear and explicit ownership information. The smart contract capabilities of the Solidex smart contracts are not identified. Solidex documents no pause control function or any equivalents. Solidex does not document the use of a timelock."
DAO
Treasury
Token
Launch
Token Allocation
Utility
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found here.
- Code can be viewed here. From DeFi Safety (4-3-2022):
"With 7 commits, this protocol does not have a strong development history."
Implementations
- Built on: Fantom
How it works
- From this blog (8-3-2022):
"Solidex is to Solidly what Convex is to Curve, as it offers liquidity providers boosted SOLID rewards without requiring them to lock the SOLID tokens themselves. It also offers said liquidity providers a portion of Solidly’s protocol revenue, as well as access to voting power and bribes."
Fees
Upgrades
Staking
Validator Stats
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
- From DeFi Safety (4-3-2022):
"The oracle source that Solidex uses is not documented. If they do not require one, these reasons are also undocumented. Solidex documents no front running mitigation techniques or any valid reason that it does not need any. Solidex documents no flash loan countermeasures or native mitigation features."
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
Projects that use or built on it
Competition
- From this blog (8-3-2022):
"In an attempt to execute a vampire attack on Solidex, 0xDAO and VeDAO formed a partnership with other veSOLID NFT holders like SpookySwap, Scream, Tomb Finance, Liquid Driver, Tarot, Beethoven X, Reaper Farm and Frax, with the end-goal of accumulating more SOLID tokens. As of the time of writing, this Convex-esque competitor to Solidex has yet to be given a name or a launch date, but this is definitely something very important to look out for in the near-to-mid-term in considering the context of the Fantom Bribe Wars."
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- This team is anonymous (4-3-2022).
Funding
Partners
(:
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