No, Andre Cronje's Solidly wasn't doomed on arrival.
Solidly forks are like fine wine: they just get better with age.
Solidly→ Velodrome
Velodrome→ Thena
Thena→ SolidLizard
And now, as Polygon experiences max hype, let's take a look at SATIN, the latest version of Solidly:
Why should you be paying attention?
Solidly forks have been some of the biggest winners since the June bottom, with 22 forks in just ~1 year. All together, they hold about $664 million in TVL.
With over $30m on average/fork, it's the project with the most average TVL/fork.
And if you don't know what Solidly is, you should check out our article on Satin below.
It explains Satin, but also Solidly forks in general.
twitter.com/JackNiewold/status...
Anyways, by some metrics, I guess Solidly is the greatest project of all time.
And as forks pop up and find success on BNB, Ethereum, Optimism, Arbitrum, and now Polygon.
Solidly Season is here, quietly bubbling away.
I was attracted to $SATIN, though, not just because of the coming zkEVM momentum to the Polygon ecosystem, but because of a few interesting features that make it unique.
It all has to do with the $CASH token:
The $CASH token
The sister project to $SATIN is called http:/Stabl.fi. It's a stablecoin project. It works as follows:
• Mint $CASH (the stablecoin) with USDT, USDC, or DAI
• Receive the equivalent amount of $CASH
• Receive rebases as the protocol generates yield
Think of it as a money market account that directly passes yield onto the users.
Hold $CASH and your balance will slowly accumulate. It's a yield-generating stablecoin.
As for Satin, the $CASH token is the base token pair. So $CASH is the start of the flywheel for the system.
Every dollar of $CASH locked into Satin represents a new cash flow that can be directed around the system.
Rebases are redirected into:
• The bribing ecosystem
• Cash rebases for LPs
• Cash rebases for veSatin holders
You can also claim rewards for locking the veToken, veSATIN, in stablecoins--so your tokens are locked, you're earning with locked tokens, but making non-inflationary yield today.
It will likely be hugely attractive for income-driven investors
Finally, veSATIN is given out to SATIN/CASH LPers, yielding deeper liquidity and a natural liquidity flywheel.
As far as the other unique selling points of Satin, you can see them listed out here below:
The exchange launches tomorrow with over $80,000 in bribes committed right off the bat--so it should be an interesting start to things.
I'm very excited to watch and help advise the team going forwards.
The exchange launches today: there will be fireworks.
Enjoyed the thread? Drop a RT on the first tweet, linekd below:
Do you think the Solidly Season has legs? Or is it just a fluke?
Let me know in the replies.
twitter.com/JackNiewold/status...
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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