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Solidly
A DEX once partially operated by Hundred Finance using a veNFT
Hundred Finance was the holder of one of the first 25 SOLID token NFTs issued to Fantom projects in order to distribute governance of the decentralized exchange. This NFT was used to incentivize liquidity provision to the HND-WFTM pool on Solidly, providing a source of deep liquidity for those trading in HND.
Solidly is a decentralized exchange (DEX) on the Fantom network that seeks to provide low-fee, near-zero slippage on correlated assets and uncorrelated, as well as a strong focus on secondary markets for the tokenized locks used to govern the protocol.
The latest creation by Andre Cronje, DeFi architect and founder of Yearn Finance, the protocol instigated the "Solidly Wars" in which Fantom's various projects, including Hundred Finance, fought for TVL in order to be assigned one of the first 25 veNFT's used to direct SOLID token rewards to liquidity providers.
SOLID, Solidly's native token, can be staked by holders on the dApp (or converted into various other versions launched by integrated protocols) for varying lock-up periods and used to vote where emissions are directed. This voting was designed to be incentivized by bribes, though some issues have arisen in the functionality and game theory on which the protocol is based.
Last modified 1yr ago