➡️ Purpose of $SOLID

The main purpose of the SOLID ERC-20 token is to incentivize liquidity providers on Solidly.

The SOLID tokens that are entering the market through liquidity providers can then be purchased and transformed into financial NFTs (ERC-721). Users who acquire such NFTs then have the possibility of:

• Earning
• Voting
• Boosting
• Governing

Earning

veSOLID earns 20% of the trading fees that the Solidly protocol generates, furthermore veSOLID earns 100% of the bribes that are made by various protocols looking to bootstrap liquidity on the Solidly platform.

Voting

veSOLID holders can vote which pools to incentivize each week with SOLID emissions on a pro-rata basis and receive instantly paid out bribes in return ("cash for vote").

Boosting

Another perk of owning veSOLID is the ability to boost your rewards on provided liquidity. Vote locking SOLID allows you to earn a boost of up to 2.5x on the liquidity you are providing on Solidly.

This feature is paused during the growth phase of the Solidly platform.

Governing

Adding to the list of veSOLID benefits is the ability to shape the future of the Solidly platform, such as choosing technical pool parameters, operators or elect governance. As for boosting, the on-chain governance will be enabled in the future once Solidly has been fully boostrapped.