📊Tokenomics
Last updated
Last updated
As mentioned in Welcome to Solidlywe continued Solidly where it was left off, as such we honored a 1:1 migration from the original deployment of Solidly V1 on Fantom as introduced by Andre Cronje, to our refactored platform on Ethereum. At the time where the new Solidly team closed the migration window, roughly 73.7% of the supply had already been emitted, with 95% of it being migrated as 4-year locked veSOLID.
The original distribution was very simple:
80% Liquidity Mining
20% Partner Protocols (as perpetually locked veSOLID)
We didn't change that, except that we repurposed non-migrated tokens and attached conditions for original partner protocols to be able to migrate. 0 new SOLID tokens were minted on Ethereum and the remaining 26.3% will be liquidity mined as originally planned, but on Ethereum instead of Fantom.
In that sense the original tokenomics are still in full effect:
The total amount of SOLID token is capped at 100,000,000 (one hundred million). Just like Bitcoin, the emission curve follows an exponential distribution, where most of the emission is minted in the early stages.
Of the 73.7m SOLID that were migrated from Fantom, 95% were locked into veSOLID by users
That leaves us with a floating supply of 3.7m SOLID on Ethereum after the migration.
The migrated veSOLID section can be broken down as follows:
