Solidly officially snapshot TVL for the top project on Fantom

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2022-01-26 09:18:20

Recently, “DeFi godfather” Andre Cronje posted an official tweet confirming that he took a snapshot of TVL on Fantom to allocate NFTs related to the Solidly project (a collaborative project between this developer and the “boss”). DeFi 2.0 Daniele Sestagalli).

Solidly officially snapshot TVL for the top project on Fantom

Officially confirmed after a period of hiatus

It is worth mentioning that the specified snapshot time is on January 23. However, Andre Cronje seemed to want to “joke” when he repeatedly posted tweets asking for “snapshot date”.

Still, not letting the community wait long, and even though the market isn’t very positive, Andre recently posted an official status line confirming snapshots for projects with the highest TVL on Fantom.


Projects in the top 25 (instead of 20 as previously expected) according to TVL will receive Solidly’s NFT, from which they will have their own plan to reallocate to their users.

“Projects that receive veNFT will enjoy 25% of the reward allocation. This rate will be fixed and considered in the ve-distribution section.”

The announcement also said that the token distribution to the market will take place 2 weeks after Solidly is officially deployed to the mainnet. However, a specific time for the mainnet has yet to be announced. In the above post, the project only said that the mainnet deployment time is “nearly approaching”.

List of 25 projects receiving veNFT from Solidly

Are the expectations worth it?

Solidly is a project to implement the ve(3,3) model, which is expected to overcome the limitations of current tokenomics.

> See also: what is ve(3,3) by Andre Cronje and what’s special?

Notably, it seems that the community response is still not 100% positive. Typically, the Iron Bank (IB) project – a project that also implements the ve(3,3) model that has just aired on Fantom a few days ago is not outside the wave of “token discharge”.

It can be said that Bitcoin’s plunge in recent days greatly affects the entire market. Therefore, Solidly’s decision to officially announce the project’s launch date will need to be considered very carefully, if it does not want to turn this into the “next Ponzi scheme”.

However, thanks to the “backing” of Andre Cronje and Daniele Sesta, Fantom (FTM) is a blockchain with “stormy” TVL growth in recent times, recently surpassing Binance Smart Chain to become a chain. block with the 3rd highest lockout value in the market. A series of projects launching on Fantom are also attracting a lot of attention from the DeFi community, in the context of other blockchains more or less affected by the longest sell-off wave in the market.

TVL rankings among major blockchains at 03:10 PM on January 25, 2022. Source: DeFi Llama

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