The soldex.ai protocol will power the new wave of flexible financial markets by serving as a foundation layer for settlement, market making, custody, and liquidity.
The soldex.ai protocol will power the new wave of flexible financial markets by serving as a foundation layer for settlement, market making, custody, and liquidity. Soldex’s Best Price Swaps determines whether swapping within a Soldex liquidity pool or through the Jupiter Aggregator (it includes Serum order book and other liquidity sources) will provide the best price for the user, and executes accordingly.
Soldex's liquidity comes both from its own liquidity pools, as well as from the wider Solana ecosystem liquidity projects. This means more liquidity and less slippage for Soldex traders.
Liquidity tokens (also called LP Tokens) represent a share of a liquidity pool. For instance, if you contribute to the SOLX/USDC pool, you will receive SOLX/USDC liquidity tokens. If you have deposited liquidity, you will be able to see liquidity tokens in your wallet. If the Farming program is available for the Pool, you can stake your LP tokens to receive extra rewards besides the trading fees.
Soldex strives for transparency and in that spirit, we disclose relevant project and wallet addresses as follows:
Soldex Treasury Address:
Soldex Swap Program ID
FvpxMskJCC43Nswc3W3HnyE4fWcXsiawzbkPfRYpDYmD(do not send any assets to this address)
Given a pool with pool token supply, token A, and token B: we use the following formula to calculate the ratio: (token A * token B)^(1/2) / (pool token supply). This ratio increases when trading occurs in the pool, regardless of how the pool size changes. We sample this value every 15 minutes and the data is used to calculate the ratio growth over time. This allows us to project an APY value for any sampled time period.
When you enter a swap, there are 3 factors that determine whether we show a price label:
- 1.Excellent price is the price per token better than 1% of the rate quoted by CoinGecko.
- 2.Fair price is the price per token within +/- 1% of the rate quoted by CoinGecko.
- 3.Warning price is the price if the impact caused by this trade is less than 1%.
When a Rate Warning price label is displayed you can still trade after acknowledging the warning.
The code uses the Solana Constant Product curve protocol available with commit hash 8fbb54b developed by the Solana team. Constant Product pools version 3613cea3c was audited by crypto-security firm Kudelski. Soldex deployment uses the commit hash: 8fbb54b which is the last version available from the Solana team's token-swap program at the time of deployment.
However, when we develop and release the Dual Rewards Farming functionality on the Solana mainnet, we’ll perform an additional audit specifically for the Soldex protocol.
The Soldex web client and backend cache service have not been formally audited, but it has been reviewed by experienced crypto security engineers. Backend service is used to cache asset prices. Soldex uses asset prices from such oracles: as Coingecko, (Pyth, and Chainlink in future releases).
Soldex Swap Program ID:
Step-by-step instructions on adding a pool to the Soldex swap program are available here. It is permissionless. Soldex web client reserves the right not to include all pools on its list to avoid scam projects.
At the moment, the team is working on UI interface to create a permissionless pool in Soldex. But, there is a command-line step-by-step instruction on adding a pool to the Soldex swap program. It requires basic command-line skills. Soldex team is open to assisting partners by creating Liquidity Pools and Farm programs in the future in Soldex protocol. Please note, that your new pool is following the Soldex Fees.
Trading fees are automatically added to Pools after each swap. These fees increase the number of tokens that you get back when you withdraw liquidity. While you cannot harvest trading fees, without withdrawing at least some liquidity. You will be able to harvest extra rewards from the Farming program once it will be available.
The price you get on Soldex depends on the size of the order. As the number of tokens you buy from the pool increases, the price of the token increases as well. This increase in price is called price impact.
The exchange will fail if the price of the underlying pools moves past your Slippage Tolerance setting. Increasing the tolerance in your local settings will raise the chances of your exchange succeeding, but also increase the probability of another party front-running your trade.
Due to the current limitations of the smart contract, exchanges that route through multiple pools have a higher likelihood of failure due to slippage. The transaction may succeed if sent again. We recognize that this could be frustrating, so we have plans in the works to improve the logic for trades that use multiple pools.
Please note, that during periods of Solana network congestion, there is an increased likelihood of transaction failure.
Yes, Soldex allows you to redeem liquidity tokens for your share of tokens at any time. No Deposit and Withdrawal fees for pools created by Soldex.
As Soldex Pools are permissionless, a pool creator can set different fees. The actual list of Soldex created Pools:
Soldex SOLX/SOL Pool:
Soldex SOLX/USDC Pool:
Soldex web client reserves the right not to include all pools on its list that are not following Soldex fee policy.
Yes. SOLX holders are able to stake their SOLX in single-sided pools for 3 months with APY ~90% and for 6 months with APY ~110%.