Difference between revisions of "Solidly (SOLID)"

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*[[bug bounty|Bug bounty]] program can be found [insert here].
*[[bug bounty|Bug bounty]] program can be found [insert here].
===Bugs/Exploits===
===Bugs/Exploits===
* [https://www.blockthreat.io/p/blockthreat-week-5-2022?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJfIjoiWVd4VUYiLCJpYXQiOjE2NDU5Mjk2MjUsImV4cCI6MTY0NTkzMzIyNSwiaXNzIjoicHViLTgxMDUiLCJzdWIiOiJwb3N0LXJlYWN0aW9uIn0.k9olJ7MLR32TLU9egfNetVdxB_muB0wqhEu9ImyiM9I&utm_source=url&s=r From] Blockthreat (16-2-2022):
''"Solidly Exchange patched a critical [[Non Fungible Tokens (NFTs)|NFT]] double counting [https://twitter.com/AndreCronjeTech/status/1488883057654386695 vulnerability] after it was responsibly disclosed through its [[Bug bounty|bug bounty program]]."''
==Governance==
==Governance==
===Admin Keys===
===Admin Keys===
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==Their Other Projects==
==Their Other Projects==
==Roadmap==
==Roadmap==
*Can be found [Insert link here].
*Can be found [Insert [[LINK|link]] here].
==Usage==
==Usage==
===Projects that use or built on it===
===Projects that use or built on it===

Revision as of 05:47, 7 March 2022

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

Basics

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

Bugs/Exploits

  • From Blockthreat (16-2-2022):

"Solidly Exchange patched a critical NFT double counting vulnerability after it was responsibly disclosed through its bug bounty program."

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

How it works

"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."

"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

"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

Pros and Cons

Pros

Cons

Team, Funding and Partners

Team

Funding

Partners

(:

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