Thread by @SolitudeDAO

Gm #Arbitrum yield farmers and degens alike!

It is our pleasure to announce our arrival to Arbi to bring forth Arbitrum's first true ve(3,3) exchange! (Without the rug)

$ETH #DeFi #YieldFarming

2/ We are looking to bring the efficient incentives model of ve(3,3) to Arbitrum Mainnet without the rug that Dictum pulled.

We see potential in this model and an AMM that actually adopts it would be a great sight and benefit for the Arbitrum ecosystem.

3/ This is where we come in, bringing incentives where Dictum couldn't.

We plan to continue Andre's model, with tweakings and fixes, while offering a place to earn the most out of your liquidity.

4/ While you all know the gist of Solidly and its design, let's talk about what we have in store shall we?

Starting with our airdrop.

5/ We will be airdropping a total of 2.5m $SOLT tokens to holders and users of specific protocols. Alongside this, we will be offering compensation for ALL $DIC holders at a rate of 1 SOLT token for every 100 $DIC tokens!

Now, let's look at the distribution for protocol users:

6/ For protocols on other chains, we are allocating 25% of the airdrop to be towards those users.

This includes @CurveFinance $CRV @ConvexFinance $CVX, @redacted_cartel $BTRFLY, @Balancer $BAL, and @AuraFinance $AURA!

7/ On Arbitrum, we will be allocating a total of 35% of our airdrop to users of protocols on Arbitrum in the past 100 days.

These protocols are @KyberNetwork $KNC, @beefyfinance $BIFI, @GMX_IO (incl $GLP staking), @dopex_io $DPX, @SperaxUSD $USDS $SPA, and Arbitrum active users!

8/ How will the airdrop be distributed?

For the airdrop, we will be offering two choices for users when claiming their $SOLT tokens:

1) Claim as a veNFT locked for 4 years

2) Claim as regular $SOLT tokens that vest over a period of 8 months

9/ We believe this gives users freedom over what they can do with their $SOLT airdrop while preventing it from being an airdrop that is just sold without benefit for the protocol.

Claiming the airdrop will also only be available for 3 months, all tokens will be burned after that

10/ Now let's talk about the tokenomics.

$SOLT will have a total supply of 250m tokens, distributed in a similar manner of Solidly's original distribution schedule.

The change to this is that early on, anti dilution will not be kicked on, preventing a black hole in liquidity.

11/ Unlike Solidly though, we will also have a 7.5% dev share and an emergency DAO to prevent things such as the Roosh situation and offer incentives for protocol bribing.

This emergency DAO is a special veNFT that can only be used for downvoting malicious pools in an emergency.

For the distribution of the dev share, it will be distributed the following ways:

• 50% Solitude Incubator
• 25% bribe matching
• 15% DAO operation expenses
• 10% team payment

We believe this dev share is key in building a successful protocol and fostering integrations.

13/ Now you may notice something: "50% to Solitude Incubator? What's that?"

Introducing the Solitude Incubator, our Incubator/Accelerator program for integrations on top of Solitude.

Funds part of this incubator will be allocated towards grants towards integrations.

14/ We believe this fund is key in fostering innovation and growth on top of our DEX and can allow for the ve(3,3) model to be more heavily utilized than it is currently. Think perps on chain powered by Solitude, Convex layers, etc.

15/ We will also be matching bribes made by protocols once we launch.

The exact rate will be announced later on after launch.

Now you might be asking: "wen launch?"

Soon.

16/ We plan to make our mainnet debut later this month, with our airdrop distribution likely coming in the next 1-2 weeks. Stay tuned

17/ That is all for now, stay tuned for next time as we talk more about $SOLT!

#ETH #Ethereum #Arbitrum $ETH $GMX $GLP