🎑Overview
DECO draws inspiration from Solidly, exhibiting both parallels and distinctions.
The two main differences between Solidly and DECO are:
Token model: DECO introduces a novel token model that allows for deep/single-sided liquidity, capital efficiency (borrowing against liquidity with no liquidation risk), stability by backing DECO with an MNT token (WETH, USDC, etc.), no more lengthy token lock ups, and sustainable emissions of call options (oDECO).
Gauge system: DECO introduces gauge-plugins, which transfer the logic or deposits/withdraws and harvests from the gauge contract to a flexible plugin contract that can support any yield-bearing asset.
Feature | Solidly | Deco |
Primary Token | SOLID | DECO |
Voting Token | veSOLID | vDECO |
Incentive Token | SOLID | oDECO (call option on DECO, strike price = floor price, no expiration) |
Base Token | NA | MNT (can be any ERC20 token WETH, WFTM, MATIC, OP, st-yETH, etc.) |
Vote Escrow Lock | Fixed lock in NFT (4 years) | 1 week unlock period |
Gauge Structure | Gauge -Built for Solidly AMM LP -Cannot support other asset types | Plugin -Flexible deposit/withdraw and harvest logic -Support for any yield bearing asset |
Primary Token Liquidity | Incentivized by SOLID emissions | Token Owned Liquidity (TOL) through Bonding Curve |
Voting Token Revenue | -SOLID rebase (locked) -Voter rewards: swap fees | -oDECO emissions -Voter Rewards: swap fees, yield, interest, etc. -Swap Fees: DECO + MNT from bonding curve volume |
Floor Price | NA | 1 MNT/DECO |
Borrow against voting token | NA | Borrow at floor price, no liquidation, no interest |
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