Solidex (SEX)? Complete set of SEX cryptocurrencies

• What is Solidex?
• Operation model
• SEX tokens are designed to serve users
• Initial Bootstrapping
• Solidex (SEX) token information
• Key Metrics SEX
• Token SEX Sale
• SEX Token Release Schedule
• SEX Token Use Case
• Roadmap & Updates
• Conclude

Recently, if you are a DeFi user in the market, you will probably not be unfamiliar with the term ve(3,3). This is Andre Cronje's optimal model for some current projects and is causing a stir in the community in the past time. Solidex is one of the highly appreciated projects, the "pioneering flag" of this model.  

What is Solidex?

Solidex is a platform developed on Fantom , built to increase rewards for users who need to lock and provide liquidity for SOLID – native token on Solid. Solidex will simplify the SOLID locking system. 

Solidex's model will be similar to Convex Finance and Curve. The concept is also very simple as follows:

• LPs who provide liquidity, deposit their LP tokens into Solidex to receive an additional reward of SOLID without having to lock SOLID tokens again. 
• Those who lock SOLID tokens will receive a portion of the fee from the protocol. This is similar to the offering of additional rewards for liquidity providers (LPs). 
• Native token SEX will allow users to receive a share of the revenue, shared from the protocol, voting rights and even bribes.

While Solidex builds on existing DeFi concepts, it is more than just a fork. The source code base was built from the ground up specifically to integrate with Solid – it's not an adaptation of Convex or another protocol.

Operation model

Every time a user submits SOLID (or veSOLID NFT) into Solidex, they will receive SOLIDsex. SOLIDsex is a 1:1 representation of the SOLID balance locked in the protocol. The protocol continuously extends the lock time to maintain the key 4 years – SOLIDsex is never converted back to SOLID.

Liquidity providers can deposit their LP tokens into Solidex and take advantage of the price increase received from the protocol's locked SOLID. The LP is further compensated by SEX rewards at a ratio of 4.2069:1, meaning for every 4.2069 SOLID earned, they will receive 1 SEX.

A total of 10% of SOLID earned from LPs is considered a fee. 5% is awarded to the LP on the SOLIDsex/SOLID pair, as compensation for their SOLID locking. The remaining 5% is locked as SOLIDsex and distributed to those who have locked SEX tokens.

SEX tokens are designed to serve users

SEX is a native protocol token – a native governance token. Users can lock it for up to 16 weeks to gain voting rights on the SOLID gauge and receive a portion of the protocol fees. The SEX key system is a hybrid “ve-model” that allows multiple keys of different lengths to be generated with a weekly decay rate.

SEX keyers can vote to direct the votes that measure the weight of the protocol. Due to the ratio of SOLID to SEX and the maximum duration of the SEX lock, we expect SEX to be significantly more attractive than SOLID in terms of proportional voting power.

There is a hardcoded minimum vote weight given to SOLIDsex/SOLID and SEX/WFTM pairs.

Initial Bootstrapping

Solidex will accept veSOLID NFT deposits as soon as the NFT is minted. All NFTs submitted prior to the launch of the main Solid protocol (before SOLID emission starts) will receive:

• SOLIDsex represents the deposit into the project
• One rate corresponds to 10% of the end-stage SEX supply
• A permanently fixed percentage of Gauge weight voting power, delivered directly to the Solid team of their choice

Solidex (SEX) token information

Solidex has SEX as the official native token and SOLIDsex will act as a representative of the amount of SOLID users deposit into Solidex. 

Key Metrics SEX

• Token Name: Solidex 
• Ticker: SEX 
• Blockchain: Fantom
• Token Standard: ERC-20
• Contract: Updating…
• Token Type: Governance, Utility
• Total Supply: Updating…
• Circulating Supply: Updating…
• SEX Token Allocation: Updating…

Token SEX Sale

SEX tokens will not be offered for sale in any form of crowdfunding or private/seed/strategic round. Instead, Solidex SEX tokens will be in the form of rewards to motivate and incentivize users to participate in the liquidity provision and lock SOLID and veSOLID NFTs. 

SEX Token Release Schedule 

Although there is no official announcement from Solidex, but according to Andre Conje's ve(3,3) development model, it is highly likely that SEX tokens will be issued weekly with about 2,000,000 tokens. Currently, it is not clear what tokens will be issued but what is certain is that they will follow the ratio of 4.2069 SOLID equivalent to 1 SEX to reward Liquidity Providers. 

SEX Token Use Case 

Applications of the SEX token will mainly revolve around:

• Governance: Own SEX to give the right to vote on proposals, see which pools will receive the most rewards and other proposals. 
• Rewards: SEX tokens will mainly be used to reward users.

Roadmap & Updates

Update at the time of writing, Solidex only has a Medium version to publish some basic information about the project.

Conclude

Above is the most basic information about Solidex, to help you better understand the project and make your own judgments. Hopefully, the article TraderH4 shared was really useful. 

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