CryptoCurrencies
19031
Exchanges
500
Total Market Cap
4,486,490,191,567
Volume 24h
386,651,595,643
Dominance
BTC 54.20%   ETH 12.03%   XRP 4.04%   USDT 3.93%

Solid
SOLID

1.012
$
0.87 %
Change 24h
Market Cap
$ 89,276
Volume 24h
$ 1092.1
Circulating Supply
88,426
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.