What is Solidly

Solidly introduced a brilliant concept focused on optimizing protocol revenue and rewarding those who displayed trust in the protocol while actively contributing to its advancement. From the moment of its launch, Solidly stood out as a groundbreaking DeFi application, achieving an impressive Total Value Locked (TVL) of up to $2.3 billion in its inaugural week.

The core principles underpinning Solidly's approach were as follows:

• Liquidity Providers (LPs) willingly forwent their entitlement to swap fees, instead earning emission tokens ($SOLID) by providing liquidity.

• The emission of $SOLID tokens to LPs was overseen by gauges, with emission rates being determined through the input of veSOLID voters.

• These veSOLID voters not only received accumulating swap fees from LPs but also held a strong incentive to foster the growth of viable pairs within the ecosystem.

While the execution of the idea may have had its imperfections, the concept itself was undeniably ingenious. Numerous projects attempted to replicate this concept, leading to noteworthy successes such as Velodrome and Thena.

We are pursuing a similar objective, taking this concept a step further. However, our model will incorporate distinct differences when compared to Solidly's framework.