Solidly finally launched on ETH mainnet on the last day of the year (31/12/22) last week. It's seen incredible growth in a short amount of time and I just want to go over very basic information about what's happened so far, what pools are like currently, and what appears on the horizon for the newly-relaunched (and fully upgraded) protocol.
The launch post
How it works
Solidly, like Uniswap and CRV before it is a meta-dex/vAMM but unlike CRV and Uni involves ve 3,3 tokenomics that we've come to know and love across the cryptoverse. In plain speak this means that inviduals can use their $SOLID tokens to vote on pool weights of their choosing. Each vote earns depositers of $SOLID rewards back in $SOLID. There is no governance structure, Solidly is built permissionless and immutable.
The pools (at current time)
(I tried my best to https://defillama.com/feesput the matching pairs together - I just didn't want to show my balances)
As you can see, these APRs are ridiculously attractive at the moment. I'm personally in the HEX/WETH pool and I am a proud #hexican.
The Fee's So far
The key metric for a DEX/vAMM is how many fees are collected each day, each week, each year, etc. People have to get paid and TVL needs to be attracted. Running things isn't cheap and neither is growth. That's what I am so excited about with SOlidly.com, fees so far are VERY impressive.
Considering we just started Epoch 2 yesterday, this is very impressive:
Partnerships and Opportunities
Solidly is partnered officially with QiDao, iEarn, Tarot, Liquity, MIM_Spell, DEUS, Ren, and Frax which means a ton of liquidity will be pouring in as the epochs wage on. My personal bet is that we're going to see at least $80k in trading fees collected in Epoch 2. For comparison's sake, CRV finance, which is much larger in every aspect than solidly collects around $450k per week on fees. Curve has $3.69 billion dollars in TVL, Solidly has 14.4697 million TVL by my count currently. You do the math on which protocol is the fee-generation machine. It's solidly.
Source: DefiLlama
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