CryptoCurrencies
19399
Exchanges
500
Total Market Cap
3,964,322,726,331
Volume 24h
292,872,674,148
Dominance
BTC 54.99%   ETH 11.71%   USDT 4.62%   XRP 3.81%

Solid
SOLID

0.9542
$
1.83 %
Change 24h
Market Cap
$ 77,341
Volume 24h
$ 993.06
Circulating Supply
81,051
Total Supply
68,773,969,682
SOLID
$
# Exchange Pair Price Volume 24h

Description

SOLID is both the name of the protocol and the over-collateralized stablecoin it issues, built on the Terra (Phoenix) blockchain. The protocol requires all collateral ratios (LTV) to exceed 100%, ensuring stability by preventing over-minting. Through the SOLID app, users can deposit a mix of Terra LSTs, axl.wBTC, USDC, and other supported assets — currently seven collateral types — to mint SOLID and repay it anytime. Unlike many lending protocols that accrue interest, SOLID only charges a one-time mint fee with no ongoing interest, making it a cost-efficient option. If collateral LTV falls below its threshold, liquidation occurs, with a built-in premium bid function in the dApp allowing users to bid on collateral and repay SOLID, which is then burned to reduce supply. The protocol allows for temporary deviations below $1 without triggering liquidation, using mint-fee adjustments to regulate supply.