Solidly SOLID Price

What is Solidly (SOLID)?

Solidly, a decentralized exchange (DEX) built on the Ethereum blockchain, has gained attention for its unique approach to capital efficiency. Originally launched in February 2022 by Andre Cronje and later re-launched in December 2022, Solidly distinguishes itself in the decentralized finance (DeFi) sector. This article delves into the distinctive features and strategies that define Solidly's position in the competitive realm of DEXs.

Integration of Uniswap and Curve Elements:

Solidly distinguishes itself by incorporating features from two well-established DEXs, Uniswap and Curve. The platform combines Uniswap's automated market maker (AMM) design with Curve's vested-escrow and stable-pool innovations. This amalgamation positions Solidly as a self-optimizing DEX focused on capital efficiency.

Fee Distribution and Governance Model:

Unlike its counterparts, Solidly opts for a unique fee distribution model. The platform directs 100% of transaction fees to its governance token, $SOLID. This direct reward mechanism aims to enhance the incentive structure for liquidity providers, fostering a more engaging environment for users participating in the protocol.

Ve(3,3) Rewards System:

Solidly introduces a ve(3,3) rewards system, allowing liquidity providers to earn SOLID tokens (ERC-20). These tokens can be sold or locked into veSOLID NFT positions (ERC-721). The duration of the lock influences voting power, revenue share, and dilution protection, offering liquidity providers varied benefits based on their commitment level.

Incentivizing Liquidity for Protocols:

Beyond being a DEX for users, Solidly provides a platform for protocols seeking to boost liquidity for their tokens. Two forms of incentives are available – one for voters and another for liquidity providers. Protocols can incentivize liquidity by offering bribes to voters, influencing support for their trading pair and allocating SOLID emissions to their tokens. Liquidity providers, in turn, can receive direct bribes in alternative tokens, enhancing their overall rewards.

Financial NFTs and Lock Durations:

Solidly introduces financial NFTs through veSOLID positions. Liquidity providers have the option to lock SOLID tokens for durations ranging from one week to four years. The lock duration directly impacts voting power, revenue share, and dilution protection, providing participants with a customizable and potentially rewarding experience.

Conclusion:

Solidly's distinctive features in capital efficiency, fee distribution, and incentivizing liquidity position it as a notable player in the DeFi landscape. With a re-launch in December 2022 and a commitment to optimizing yields for stakeholders, Solidly presents an alternative in the DEX space, catering to users and protocols with its unique set of offerings.

What is unique about Solidly (SOLID)?

Solidly stands out for its innovative approach, merging Uniswap and Curve features to create a self-optimizing DEX on Ethereum. It distributes 100% of transaction fees to its governance token ($SOLID) and introduces a ve(3,3) rewards system for liquidity providers.

Who are the founders of Solidly (SOLID)?

Solidly was originally launched in February 2022 by Andre Cronje and Mark Hoek.

Where can I buy Solidly (SOLID)?

 Solidly V3 (Ethereum), Solidly V2 (Ethereum)