🎑Overview

v33-X draws inspiration from ve33, exhibiting both parallels and distinctions.

The two main differences between ve33 and v33-X are:

1. 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).

2. 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.

Feature	ve33	v33-X
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