what's Solidly?
Solidly is a decentralized exchange (DEX) protocol designed to optimize capital efficiency in DeFi through an advanced automated market maker (AMM) model. Launched initially in February 2022 on the Fantom network by DeFi innovator Andre Cronje, it was later forked and relaunched on Ethereum in December 2022 with community consensus. The protocol improves upon traditional AMM designs by incorporating dynamic fees, concentrated liquidity options, and a vote-escrow (ve) tokenomics layer inspired by the (3,3) game theory model, which aligns incentives among liquidity providers, voters, and the ecosystem. At its core, Solidly uses a ve(3,3) system where users lock the native token to gain voting power (veSOLID), directing emissions and bribes to specific pools. This encourages long-term participation: liquidity providers earn from fees and incentives, voters capture trading revenues, and the protocol bootstraps liquidity without excessive inflation. It supports stable and volatile pairs with customizable curves, aiming for deeper liquidity and better swap rates compared to predecessors like Uniswap.
Solidly serves as the basis for a fork by EUPHORIA_xyz_, an AI project on Base.
contract
ethereum
fantom
Closed public sale with $204.6M committed at a fixed $1B fully diluted valuation.
Raised $225M across seed and private funding rounds prior to the public sale.
Has a fixed maximum supply of 10 billion tokens with no vesting schedule and no inflation mechanism.
Offers investors a perpetual redemption mechanism allowing them to redeem $FT allocations at any time for 100% principal return with redeemed tokens being burned.
Generated approximately $153K in yield to date from deploying raised capital into DeFi protocols.
Mentioned as the basis for a fork by EUPHORIA_xyz_, an AI project on Base.
AMM v2 implementation of the Solidly formula achieves 77% gas reduction for volatile pairs and 60% gas reduction for stable pairs through direct, non-iterative calculations.
A Stacks-based AMM protocol adopts the Solidly formula in their v2 upgrade to solve precision loss issues, using square root calculations instead of powers for improved swap accuracy.