SolidlyPrice

(SOLID)

Solidly has evolved through three distinct versions. V1 was the original experiment launched on the Fantom blockchain by Andre Cronje, which was eventually moved to a legacy status. V2 was a revival launched on Ethereum by a new development team to stabilize the codebase. The current iteration, V3, is a sophisticated concentrated liquidity protocol (CLAMM) featuring major gas optimizations and advanced efficiency tools, designed to compete with the industry's most prominent decentralized exchanges.

No. Although Andre Cronje designed the original ve(3,3) mechanism that powers the protocol, he officially left the project in March 2022. The current development and maintenance of the V3 protocol are handled by an independent group known as Solidly Labs. This team operates separately from the original founder, focusing on building an immutable and trustless trading environment for Ethereum users.

The official 1:1 migration window, which allowed users to burn their Fantom-based SOLID for Ethereum-based SOLID, closed in late 2022. Consequently, tokens remaining on the Fantom network are considered legacy assets and are generally unsupported by the current V3 infrastructure. Users looking to participate in the ecosystem should ensure they are interacting with the current ERC-20 token on the Ethereum network.

SOLID is the native ERC-20 token used for protocol incentives. To gain utility, users lock their SOLID for up to four years to receive veSOLID. This follows the ve(3,3) model, which combines voting escrow mechanics with game-theory incentives. Holders of veSOLID can vote on which liquidity pools receive emissions; in return, they earn 100% of the trading fees and bribes generated by the specific pools they supported, aligning the interests of lockers and liquidity providers.

Solidly V3 is engineered for high efficiency, claiming significantly lower gas costs for swaps and liquidity management compared to other leading concentrated liquidity platforms. It achieves this through streamlined reward accounting and by removing unnecessary oracles. Furthermore, it incorporates Just-In-Time (JIT) protection to mitigate MEV bot interference and utilizes dynamic fees that adjust during periods of high volatility to help protect liquidity providers from impermanent loss.

In the Solidly ecosystem, a user's locked position is tokenized as an NFT, known as a veNFT (ERC-721). Unlike protocols where a lock is permanently tied to a specific wallet address, veNFTs allow the locked position—including its voting power and future rewards—to be traded or transferred. This provides a layer of liquidity for long-term governance participants, as they can sell their entire locked position on secondary NFT marketplaces if they wish to exit.