A 𧡠explaining @solidlyexchange, @SolidexFantom, @0xDAO_fi, @_veDAO_.
$SOLID $SEX $WEVE $OXD
[1/x] ππ§΅
$SOLID $SEX $WEVE $OXD
[1/x] ππ§΅
2/
@solidlyexchange is a new DEX by @AndreCronjeTech (founder of $YFI and $KP3R) that launched last week.
There has been much hype about Solidly for months, and in just a few days since launch, @solidlyexchange managed to accumulate over $2B in TVL.
@solidlyexchange is a new DEX by @AndreCronjeTech (founder of $YFI and $KP3R) that launched last week.
There has been much hype about Solidly for months, and in just a few days since launch, @solidlyexchange managed to accumulate over $2B in TVL.
3/
$SOLID follows a similar model to $CRV.
β’ Cheap, low-slippage stableswaps.
β’ Lock $SOLID for $veNFT (voting power)
β’ Direction of emissions is decided by voters
β’ Voters receive bribes
$SOLID follows a similar model to $CRV.
β’ Cheap, low-slippage stableswaps.
β’ Lock $SOLID for $veNFT (voting power)
β’ Direction of emissions is decided by voters
β’ Voters receive bribes
4/
If you're unfamiliar with $CRV, check out this thread I wrote a few weeks ago.
The $CRV wars are one of the most significant things happening in #DeFi right now, and will give you a feel for how the $SOLID wars are evolving and why.
If you're unfamiliar with $CRV, check out this thread I wrote a few weeks ago.
The $CRV wars are one of the most significant things happening in #DeFi right now, and will give you a feel for how the $SOLID wars are evolving and why.
https://twitter.com/shivsakhuja/status/1494159690946646022?s=21
5/
So why is @solidlyexchange better than a DEX like @SpookySwap or @Spirit_Swap?
β’ Cheap, low slippage swaps
β’ Community chooses where emissions are directed
β’ Lockup / voting mechanism for $SOLID = good tokenomics
β’ Andre Cronje is involved (hype + trust + quality)
So why is @solidlyexchange better than a DEX like @SpookySwap or @Spirit_Swap?
β’ Cheap, low slippage swaps
β’ Community chooses where emissions are directed
β’ Lockup / voting mechanism for $SOLID = good tokenomics
β’ Andre Cronje is involved (hype + trust + quality)
6/
Now, what about the other players in this fight?
$SEX (@SolidexFantom) & $OXD (@0xDAO_fi) are to $SOLID what $CVX is to $CRV.
$WEVE (@_veDAO_) is kind of similar to $BTRFLY (@redactedcartel). i.e - it's goal is to accumulate governance tokens, and direct emissions.
Now, what about the other players in this fight?
$SEX (@SolidexFantom) & $OXD (@0xDAO_fi) are to $SOLID what $CVX is to $CRV.
$WEVE (@_veDAO_) is kind of similar to $BTRFLY (@redactedcartel). i.e - it's goal is to accumulate governance tokens, and direct emissions.
7/
Just like @ConvexFinance, @SolidexFantom adds it own emissions (in $SEX tokens) on top of $SOLID farming rewards to encourage people to deposit to Solidex.
@0xDAO_fi will be similar to @SolidexFantom, though it hasn't begun allowing people to deposit Solidly LPs yet.
Just like @ConvexFinance, @SolidexFantom adds it own emissions (in $SEX tokens) on top of $SOLID farming rewards to encourage people to deposit to Solidex.
@0xDAO_fi will be similar to @SolidexFantom, though it hasn't begun allowing people to deposit Solidly LPs yet.
8/
The yields from emissions for liquidity providers on @solidlyexchange and @SolidexFantom were very juicy, especially early on:
β’ $FTM-$TOMB @ 600%+ APR
β’ $SPIRIT-$linSPIRIT @ 3000%+ APR
β’ $USDC-$MIM @ 60%+ APR
β’ $HND-$FTM @ 1400%+ APR
β’ $BOO-$xBOO @ 2000%+ APR
The yields from emissions for liquidity providers on @solidlyexchange and @SolidexFantom were very juicy, especially early on:
β’ $FTM-$TOMB @ 600%+ APR
β’ $SPIRIT-$linSPIRIT @ 3000%+ APR
β’ $USDC-$MIM @ 60%+ APR
β’ $HND-$FTM @ 1400%+ APR
β’ $BOO-$xBOO @ 2000%+ APR
9/
This led to a ridiculous inflow of TVL in a matter of days.
β’ The $FTM chain TVL went from $9B to $13B+ in 2 days.
β’ $FTM ecosystem coins pumped a lot during those days
β’ @solidlyexchange and @SolidexFantom scooped up $2B+ on TVL.
This led to a ridiculous inflow of TVL in a matter of days.
β’ The $FTM chain TVL went from $9B to $13B+ in 2 days.
β’ $FTM ecosystem coins pumped a lot during those days
β’ @solidlyexchange and @SolidexFantom scooped up $2B+ on TVL.
10/
@SolidexFantom has it's own token $SEX as well as it's own locking / voting mechanism.
I won't go into the details of that as there's a lot to explain and there are other people who have already written about it (linked at the end of this π§΅)
@SolidexFantom has it's own token $SEX as well as it's own locking / voting mechanism.
I won't go into the details of that as there's a lot to explain and there are other people who have already written about it (linked at the end of this π§΅)
11/
This Medium article by @SolidexFantom explains the @solidlyexchange mechanics in detail.
medium.com/@solidsex/all-β¦
This Medium article by @SolidexFantom explains the @solidlyexchange mechanics in detail.
medium.com/@solidsex/all-β¦
12/
What about @_veDAO_ $WEVE?
@JackNiewold has a great thread about it
What about @_veDAO_ $WEVE?
@JackNiewold has a great thread about it
https://twitter.com/JackNiewold/status/1498865022998622209?s=20
13/
There's a lot more I'd like to write about each of these projects but I don't want to ramble about how they work when you can read that elsewhere.
Let's discuss some actionable strategies on how you can get involved, depending on your viewpoint.
There's a lot more I'd like to write about each of these projects but I don't want to ramble about how they work when you can read that elsewhere.
Let's discuss some actionable strategies on how you can get involved, depending on your viewpoint.
14/
The @solidlyexchange launch has been so hyped for so long, that the $FTM network has gotten super congested as a result.
Pro-tip: If you're willing to pay, I'd recommend bumping up the gas price when confirming transactions in MetaMask to avoid tx getting stuck.
The @solidlyexchange launch has been so hyped for so long, that the $FTM network has gotten super congested as a result.
Pro-tip: If you're willing to pay, I'd recommend bumping up the gas price when confirming transactions in MetaMask to avoid tx getting stuck.
15/
Currently, all the farming strategies are using @solidlyexchange and @SolidexFantom.
@SolidexFantom rates have dropped considerably since the launch, but they're still some of the best in the $FTM ecosystem.
I'm also excited to see what @0xDAO_fi comes out with.
Currently, all the farming strategies are using @solidlyexchange and @SolidexFantom.
@SolidexFantom rates have dropped considerably since the launch, but they're still some of the best in the $FTM ecosystem.
I'm also excited to see what @0xDAO_fi comes out with.
16/
Strategy #1: $SPIRIT bull
β’ $SPIRIT-$linSPIRIT LP @ 400% APR
Instead of $linSPIRIT, you can use $rainSPIRIT, $binSPIRIT, $sinSPIRIT, etc for 2000%+ APR, but I don't know much about those.
Strategy #1: $SPIRIT bull
β’ $SPIRIT-$linSPIRIT LP @ 400% APR
Instead of $linSPIRIT, you can use $rainSPIRIT, $binSPIRIT, $sinSPIRIT, etc for 2000%+ APR, but I don't know much about those.
17/
Strategy #2: $FTM ecosystem bull
If you're overall bullish on the FTM ecosystem, a similar strategy can also be used for:
β’ $LQDR-$FTM @ 400% APR
β’ $BOO-$xBOO @ 200% APR
β’ $BEETS-$fBEETS @ 250% APR
Also, $GEIST and $SCREAM.
Strategy #2: $FTM ecosystem bull
If you're overall bullish on the FTM ecosystem, a similar strategy can also be used for:
β’ $LQDR-$FTM @ 400% APR
β’ $BOO-$xBOO @ 200% APR
β’ $BEETS-$fBEETS @ 250% APR
Also, $GEIST and $SCREAM.
18/
Strategy #3: Market neutral farming (if you're not bullish on $FTM or the overall market)
β’ Deposit $5k to $FTM-$TOMB LP on @Solidly
β’ Stake LP tokens to @SolidexFantom @ 200% APR.
β’ Short $5k $FTM (Borrow $FTM on @HundredFinance and sell for stables)
= ~100% APR
Strategy #3: Market neutral farming (if you're not bullish on $FTM or the overall market)
β’ Deposit $5k to $FTM-$TOMB LP on @Solidly
β’ Stake LP tokens to @SolidexFantom @ 200% APR.
β’ Short $5k $FTM (Borrow $FTM on @HundredFinance and sell for stables)
= ~100% APR
19/
Strategy #4: Betting on $SOLID.
β’ $FTM-$SOLID @ 400% APR
β’ $USDC-$SOLID @ 500% APR
β’ $SOLIDsex-$SOLID @ 400% APR
Strategy #4: Betting on $SOLID.
β’ $FTM-$SOLID @ 400% APR
β’ $USDC-$SOLID @ 500% APR
β’ $SOLIDsex-$SOLID @ 400% APR
20/
Strategy #5: Farm non-FTM coins against FTM or USDC (still bullish on FTM but less exposure)
β’ $FTM-$HND @ 600% APR
β’ $FTM-$CRV @ 180% APR
β’ $FTM-$MULTI @ 400% APR
β’ $CRV-$g3CRV @ 200% APR
Strategy #5: Farm non-FTM coins against FTM or USDC (still bullish on FTM but less exposure)
β’ $FTM-$HND @ 600% APR
β’ $FTM-$CRV @ 180% APR
β’ $FTM-$MULTI @ 400% APR
β’ $CRV-$g3CRV @ 200% APR
21/
Strategy #6: Bet on the $SOLID wars (other tokens in the game)
β’ $OXD-$USDC @ 500% APR
β’ $SOLID-$SEX @ 200% APR
β’ $SOLIDsex-$SOLID @ 350% APR
β’ $SOLIDsex-$g3CRV @ 850% APR
β’ $WEVE - $USDC @ 700% APR
Strategy #6: Bet on the $SOLID wars (other tokens in the game)
β’ $OXD-$USDC @ 500% APR
β’ $SOLID-$SEX @ 200% APR
β’ $SOLIDsex-$SOLID @ 350% APR
β’ $SOLIDsex-$g3CRV @ 850% APR
β’ $WEVE - $USDC @ 700% APR
22/
Keep in mind that all these strategies are high-risk.
β’ Tokens have price risk
β’ Protocols have smart contract risk
β’ LPs have Impermanent Loss risk
Keep in mind that all these strategies are high-risk.
β’ Tokens have price risk
β’ Protocols have smart contract risk
β’ LPs have Impermanent Loss risk
https://twitter.com/shivsakhuja/status/1482188295488430086?s=20
23/
Now what can you do with the rewards?
You could:
1. Harvest and sell for stables / crypto every day or so
2. Hold the $SOLID and use it to lock / vote / receive bribes.
3. Compound it into more LPs (manually or through autocompounders)
I'm doing a combination of 1 & 2.
Now what can you do with the rewards?
You could:
1. Harvest and sell for stables / crypto every day or so
2. Hold the $SOLID and use it to lock / vote / receive bribes.
3. Compound it into more LPs (manually or through autocompounders)
I'm doing a combination of 1 & 2.
24/
For example, let's say you invested $20,000 into a pool paying 365% APR.
You will receive 1% or $200 daily (subject to fluctuations of APR).
You could convert $100 daily into stables, and use the other $100 to add to your $SOLID lockup to vote and receive bribes.
For example, let's say you invested $20,000 into a pool paying 365% APR.
You will receive 1% or $200 daily (subject to fluctuations of APR).
You could convert $100 daily into stables, and use the other $100 to add to your $SOLID lockup to vote and receive bribes.
25/
If you lock up, make sure to actually vote and claim bribe rewards.
Here are some of the tabs on the @solidlyexchange app:
β’ Vest: Lock $SOLID for $veNFT
β’ Vote: Vote for next emissions using your $veNFT
β’ Rewards: Claim bribes and swap fees.
If you lock up, make sure to actually vote and claim bribe rewards.
Here are some of the tabs on the @solidlyexchange app:
β’ Vest: Lock $SOLID for $veNFT
β’ Vote: Vote for next emissions using your $veNFT
β’ Rewards: Claim bribes and swap fees.
26/
There are so many ways to play this, and so much happening.
Things are changing every day - this has been a really exciting one to follow in #DeFi.
I'll try to keep sharing / retweeting useful content about developments in the $SOLID wars.
Stay tuned!
There are so many ways to play this, and so much happening.
Things are changing every day - this has been a really exciting one to follow in #DeFi.
I'll try to keep sharing / retweeting useful content about developments in the $SOLID wars.
Stay tuned!
27/
Some additional reading if you're interested:
@AvgJoesCrypto has put out some really $SOLID content (pun intended) on his substack:
avgjoescrypto.substack.com/p/a-beginners-β¦
Some additional reading if you're interested:
@AvgJoesCrypto has put out some really $SOLID content (pun intended) on his substack:
avgjoescrypto.substack.com/p/a-beginners-β¦
28/
@JackNiewold has been covering $SOLID in great detail for a while.
He has been awesome at staying on top these projects and sharing the research in digestible threads. I've learned a lot from his content.
Here's a 𧡠of his 𧢠on @solidlyexchange:
@JackNiewold has been covering $SOLID in great detail for a while.
He has been awesome at staying on top these projects and sharing the research in digestible threads. I've learned a lot from his content.
Here's a 𧡠of his 𧢠on @solidlyexchange:
https://twitter.com/JackNiewold/status/1499177618377109510?s=20&t=IlPbUvWD44wuaJZ6jvYhZg
28/
@Prof_Crypto_B is a great follow as well (on Twitter + YouTube) - he's put out some helpful videos explaining some of the $SOLID / $SEX news recently:
@Prof_Crypto_B is a great follow as well (on Twitter + YouTube) - he's put out some helpful videos explaining some of the $SOLID / $SEX news recently:
https://twitter.com/Prof_Crypto_B/status/1498855603237703683?s=20&t=Rxr8DFF5vn3-EUBrIRjoqA
29/
If you liked this π§΅, you might like my past threads about all things #DeFi π
If you liked this π§΅, you might like my past threads about all things #DeFi π
https://twitter.com/shivsakhuja/status/1470898910218440708?s=20
31/
Even with the help of the research from these gigabrains, it takes a lot of time and effort to do the research and write these threads.
A β€οΈ / β»οΈ on the original thread goes a long way to help me to keep writing π
Even with the help of the research from these gigabrains, it takes a lot of time and effort to do the research and write these threads.
A β€οΈ / β»οΈ on the original thread goes a long way to help me to keep writing π
https://twitter.com/shivsakhuja/status/1499613416146620420
β’ β’ β’
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