An Update on the Solidly Wars

AN UPDATE ON THE SOLIDLY WARS.

Featuring ve(3,3), $SOLID, @AndreCronjeTech, and more.

If you’re not caught up already, the thread below is a basic (but outdated) primer on Solidly, originally known as ve(3,3):

ve(3,3) could change DeFi forever. @andrecronje, @danielesesta, and @FantomFDN have banded together to create a new, secretive, and highly anticipated project.

Here's a thread of everything we know (and some speculation) on the protocol:

Also, how to play the trade: ??

— Jack Niewold (@JackNiewold) January 11, 2022

So how have the Solidly Wars played out?

The below table is what I used to inform my trading strategy.

It shows us the Market Cap/Solidly Token allocation.

Basically, how much you have to ‘pay’ for exposure to Solidly tokens:

So for Morpheus Swap and Iron Bank, you can pay about $10 for exposure to 1 Solidly token.

Over the last 14 days, the tokens with the cheapest exposure to Solidly performed the best:

• Iron Bank: +276.9%
• Morpheus Swap: +120.3%
• VeDAO: +31.6%
• 0xDAO: +18.9%

Meanwhile, tokens with lower allocations relative to price performed poorly.

On the left: High Solidly allocations relative to Mkt Cap
On the right: Low Solidly allocations relative to Mkt Cap

To me, this shows it’s apparent that people want cheap exposure to Solidly.

And the two protocols with the cheapest exposure are STILL Morpheus Swap ($PILLS) and Iron Bank ($IB).

Both have gone on a hell of a run, and remain the cheapest way to get Solidly exposure, for now.

They’ve switched places, though. While $IB was initially the cheapest way to get exposure, now it’s PILLS.

I still hold both, FWIW.

Announcements were also positive price catalysts.

Below is a table of the plans different protocols have with their Solidly allocations.

? Updates on the #veSolidWars ?

? Iron Bank (@ibdotxyz) declares they're going independent, holders of $veIB will earn $SOLID

? Abracadabra (@MIM_Spell) throws in with @SolidexFantom as partner 8

? @tombfinance confirms they're TBD

? @_veDAO_ plan update imminent! pic.twitter.com/5eL59HbZW7

— alexcutler.eth (@wagmiAlexander) February 16, 2022

That makes $PILLS look pretty nice, as it’s due to announce what it will do with its allocation any day now.

Meanwhile, 0xDAO and VeDAO are looking like more attractive options than they used to as $PILLS and $IB have pumped.

I still own $PILLS and $IB, but I’ve shifted my allocation towards $PILLS as it provides cheaper exposure.

Plus, the $PILLS announcement should be a good price catalyst.

Nothing revolutionary there, but I wanted to update on how the thesis has played out and if there’s still room to run (I think there is).

Next week, emissions start, and we’ll be able to see how much these Solidly tokens are worth.

Should be fun for anyone with $SOLID exposure.