What Is SOLIDsex Tokenized veSOLID ?
Solidex is a protocol to optimize yield, voting power, and liquidity provisioning on Solidly. Solidly is a decentralized exchange (AMM) where tokens may be swapped using liquidity provided by users. Those users earn SOLID emissions. Those who lock SOLID receive veSOLID and a higher share of SOLID rewards. veSOLID or vote escrowed SOLID, is a concept first introduced by Curve Finance which aims to reward long term users of a protocol. Those who hold veSOLID earn trading rewards from the protocol as well as voting power to direct SOLID emissions.
If you wish to lock SOLID, Solidex allows you to earn a larger share of trading fees and rewards, as well as a share of boosted SOLID emissions received by liquidity providers in exchange for you providing boost to the protocol. If you wish to be a liquidity provider, Solidex means you can earn boosted SOLID rewards without having to lock SOLID for several years, as well as additional SEX rewards.
If you wish to maximize voting power and influence over SOLID emissions and gauges, Solidex ensures veSOLID is always max locked in order to maximize voting power. This influence is then controlled through the SEX token which can be locked for up to 16 weeks and earn additional rewards. has no deposit or withdrawal fees and a minimal performance fee that is distributed to SOLID and SEX lockers in its entirety. There are no vcs, investors, or advisors.
Solidex Storage Key Points
| Coin Basic | Information |
|---|---|
| Coin Name | Solidex |
| Short Name | SOLIDSEX |
| Circulating Supply | N/A |
| Total Supply | N/A |
| Source Code | Click Here To View Source Code |
| Explorers | Click Here To View Explorers |
| Twitter Page | Click Here To Visit Twitter Group |
| Whitepaper | Click Here To View |
| Support | 24/7 |
| Official Project Website | Click Here To Visit Project Website |
Solidex Tokenomics
1 SOLIDsex is minted for every 1 veS OLID locked in the protocol, this is a constant 1:1 representation.
SEX Token
LPs are compensated with SEX rewards at a rate of 4.2069:1, meaning that for every 4.2069 SOLID earned by the LPs, they receive 1 SEX. As a result, SEX emissions follow the uncapped emission of SOLID, and will decrease as SOLID emissions slow down.
SEX Advance
Just before the launch of Solidly emissions, there will an advance allocation of SEX tokens to Partners, corresponding to 10% of their deposited NFT’s veSOLID amount. This is an advance of tokens. The partner contract calculates how much SEX each partner is owed based on the total supply that was minted, less the supply minted for partners. Only once the amount owed exceeds the advance paid, partners are able to mint more SEX. There is no other initial allocation, or vesting of SEX tokens. The team only earns SEX tokens if the protocol is being used and is earning SOLID.
Fees & Rewards
When liquidity providers deposit on Solidex, they earn a bigger share of boosted SOLID emissions. Those who have locked SOLID on Solidex earn in return a share of those rewards which they helped boost. This 15% fee is shared amongst two groups: Those who have converted SOLID into SOLIDsex and staked this in the protocol receive 10% of SOLID earned by the protocol, as vanilla SOLID tokens. Those who have locked SEX who receive the other 5%, as SOLIDsex. This allows a good equilibrium between Solidly liquidity providers and SOLID lockers.
Liquidity Providers
- Earn SOLID: Boosted Solidly emissions from the protocol’s veSOLID (earned as vanilla SOLID)
- Earn SEX: 1 SEX for every 4.2069 SOLID earned (as vanilla SEX)
- Pay fees: 15% performance fee on SOLID earned
SOLID lockers (SOLIDsex)
- Earn Liquidity Provider fees: 10% of all SOLID farmed by the protocol (as vanilla SOLID)
- Earn SEX: 3.5% of the SEX that gets minted (as vanilla SEX)
- Earn down-vote protection fees: Price determined by SEX auction (as vanilla SEX)