You can view the code for the Solidifi smart contract here. It is currently deployed on the Ethereum blockchain's Rinkeby test network. You can see the contract at its address via EtherScan.
For the best information, please read the Solidifi whitepaper.
The leveraged trading market is a multi-billion market. One of the newest developments in leveraged trading is the leveraged token. Leveraged tokens offer investors the ability to use leverage without the risk of liquidation. While the idea of leveraged tokens might seem great on paper, they tend to work poorly in practice. Centralized leveraged tokens suffer from regulation and a lack of transparency in their protocols. Decentralized leveraged tokens suffer from decay over time. These issues might not deter short-term investors, but they prevent leveraged tokens from being viable as a long-term investment. Without long-term viability, leveraged tokens are essentially useless, as they would provide no real advantages over other forms of leveraged trading.
Solidifi is the first leveraged token that fixes these issues and provides real value to long-term investors.
Other decentralized tokens suffer because they need to get liquidity from an outside source in order to artificially adjust the prices of their leveraged tokens. Getting liquidity in this way will always incur fees. Since these other protocols are constantly paying liquidity fees, the value of their leveraged tokens decays over time. Solidifi doesn't need an outside liquditiy pool. The Solidifi protocol simply moves money from the losers to the winners. All money is moved internally, so there is no need to pay any fees to any liquidity providers.
To use Solidifi, first visit the website. You will need MetaMask or another Ethereum wallet installed. Then, you can deposit ETH into the contract (don't worry, you can get free test ETH by scrolling down to the bottom of the website). You must decide whether you think ETH's price will go up or down. If you guess correctly, you will be able to withdraw more ETH than you originally deposited. If you guess wrong, you will lose some of your ETH, but only if you choose to withdraw. You can keep your ETH in the contract for as long as you want without any holding fees, rollover fees, or risk of liquidation.
So, why is it called Solidifi?
- The opposite of liquidate is solidify.
- It is a DeFi application.
- The smart contract was built with Solidity.