Understanding oxSOLID

oxSOLID token, and how it fits in the 0xDAO platform

oxSOLID is tokenized veSOLID

  • 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 Staking

  • 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.

oxSOLID Liquidity Pools

  • 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.