0xDAO for SOLID Stakers
When users deposit their veNFT or SOLID, they automatically receive a proportional amount of oxSOLID (oxSOLID is minted 1:1 for SOLID deposited). oxSOLID is a tokenized, fungible representation of 1 locked 0xDAO SOLID. Because of the way Solidly’s rebase mechanism works, this position will never be diluted, as 0xDAO automatically converts rebased SOLID into oxSOLID, and passes this along to oxSOLID stakers.
oxSOLID stakers on 0xDAO are enitled to the following benefits:
- No dilution, as ve(3,3) rebases are passed along to stakers as more oxSOLID.
- Since oxSOLID is a liquid token, it allows stakers to easily exit their locked position at any time.
- 10% share of SOLID earned by 0xDAO protocol LPs, as SOLID.
- Protocol-optimized Solidly trading fees.
- Protocol-optimized Solidly gauge bribes.
- At least 5% floor share of all OXD emissions (see below for bonus details).
- Claim veSOLID aidrops. Note: airdrop distribution will be done to the best of our abilities. Will require cooperation from the other platforms.
Bonus OXD emissions:
- oxSOLID stakers have large upside above their floor amount of OXD emission.
OXD Earned = (Current oxSOLID Staked / Total SOLID)
- For example, if you own 1% of all SOLID as oxSOLID, you will receive 1% of all OXD emissions.
- oxSOLID stakers will earn whichever number is greater between the floor and this formula. This incentivizes stakers to continue growing their oxSOLID lock in order to receive a greater share of OXD emissions.
- Any oxSOLID staker contributing significantly to bootstrapping 0xDAO's SOLID lock is eligible to be a partner. If a holder outside of the original 25 launch protocols accumulates at least as much oxSOLID as the smallest partner (Tarot, 452,870 SOLID), they will be considered a partner and migrated to the partner emissions structure.