oxSOLID token, and how it fits in the 0xDAO platform
- A tokenized version of veSOLID, oxSOLID, is returned to the user at a 1:1 rate.
- 0xDAO automatically converts rebased SOLID into oxSOLID proportional to the users staked amount.
- If a user deposits SOLID into 0xDAO, that SOLID is locked forever on the platform as veSOLID.
- Converting SOLID to oxSOLID is a one-way transaction (i.e. it can not be undone).
- oxSOLID can be staked into the platform to receive normal Solidly admin fees one would get for staking their veSOLID on Solidly.
- Additionally, users staking oxSOLID will receive SOLID from 0xDAO's performance fee, as well as the platform native token OXD.
- Rather than staking oxSOLID, users can also choose to contribute to the Solidly liquidity pool oxSOLID/SOLID.
- Users can then stake their oxSOLID/SOLID LP token on 0xDAO to receive a 0-5% fee on SOLID earned by other LP positions for providing liquidity to enter and exit 0xDAO's SOLID ecosystem via the oxSOLID token.
- By default this is 0% but can be raised by a governance vote.