Overview
v33-X draws inspiration from ve33, exhibiting both parallels and distinctions.
The two main differences between ve33 and v33-X are:
Token model: v33-X introduces a novel token model that allows for deep/single-sided liquidity, capital efficiency (borrowing against liquidity with no liquidation risk), stability by backing TOKEN with a BASE token (WETH, USDC, etc.), no more lengthy token lock ups, and sustainable emissions of call options (oTOKEN).
Gauge system: v33-X introduces gauge-plugins, which transfer the logic or deposits/withdraws and harvests from the gauge contract to a flexible plugin contract that can support any yield-bearing asset.
Primary Token
SOLID
TOKEN
Voting Token
veSOLID
vTOKEN
Incentive Token
SOLID
oTOKEN (call option on TOKEN, strike price = floor price, no expiration)
Base Token
NA
BASE (can be any ERC20 token WETH, WFTM, MATIC, OP, ARB, st-yETH, etc.)
Vote Escrow Lock
Fixed lock in NFT (4 years)
1 week unlock period
Gauge Structure
Gauge
-Built for Solidly AMM LP
-Cannot support other asset types
Plugin -Flexible deposit/withdraw and harvest logic -Support for any yield bearing asset
Primary Token Liquidity
Incentivized by SOLID emissions
Token Owned Liquidity (TOL) through Bonding Curve
Voting Token Revenue
-SOLID rebase (locked) -Voter rewards: swap fees
-oTOKEN emissions -Voter Rewards: swap fees, yield, interest, etc. -Swap Fees: TOKEN + BASE from bonding curve volume
Floor Price
NA
1 BASE/TOKEN
Borrow against voting token
NA
Borrow at floor price, no liquidation, no interest
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