🐍What is Solisnek
Last updated
Last updated
Solisnek is a revolutionary decentralized exchange (DEX) and automatic market maker (AMM) that has been built upon the original Solidly vision, and has now been brought to the Avalanche blockchain. As an AMM, Solisnek uses a mathematical algorithm to create a market for any given token, thereby allowing users to trade them in a decentralized manner. This means that Solisnek does not rely on traditional order books to match buyers and sellers, but rather allows users to trade directly with the liquidity pool of the platform.
At Solisnek, we strongly believe in the collaborative model that was originally designed and implemented by Andre Cronje, the creator of the popular DeFi platform, Yearn Finance and father of Solidly itself. However, we have added a unique twist to our approach by implementing a (3,3) dilution protection that is capped at 20% during the evaluation period. This means that users who hold Solisnek's native token ($SNEK) will be protected from excessive dilution during the initial stages of the project's development.
In addition to the dilution protection mechanism, Solisnek also plans to implement a veNFT maturity curve that is similar to Reliquary. This will allow users who hold $SNEK tokens to benefit from increased voting power over time, thereby providing them with greater influence over the future development of the platform. Moreover, Solisnek also plans to introduce a tiered revenue sharing stream that will reward token holders for their contributions to the platform's growth.
One of issues when Solidly fork launches that we observed as a team is sub optimal routing that was pain point of every solidly iteration so far, that is why we will start off with implementing router of one of the best dex aggregators in crypto space - ParaSwap.
One thing that will truly set us apart from other Solidly projects is Perps. It's no secret that Perpetuals have the potential to generate a lot of fees and revenue. Our platform will be cuting-edge, buttery smooth and enable us bring value to $SNEK holders unlike any Solidly based project you have ever seen.
