Solidly Crypto Exchange Review: Is This DeFi Protocol Still Viable in 2025?

When you hear the name Solidly, you might think of a powerful decentralized exchange with deep liquidity and wide token support. But the reality is far different. Solidly isn’t a crypto exchange in the way Uniswap or PancakeSwap is. It’s a niche, single-chain AMM protocol built on Fantom, launched in 2022 with big promises-and almost no users left to keep it alive.

What Solidly Actually Is

Solidly is an Automated Market Maker (AMM) designed to redistribute trading fees directly to token holders instead of rewarding liquidity providers with token emissions. It was created by Andre Cronje and Daniele Sestagalli, two names that once commanded respect in DeFi circles. Cronje, in particular, had a track record of launching successful protocols like Yearn.finance and Fantom’s own SpookySwap. That pedigree gave Solidly an instant credibility boost.

But Solidly didn’t build a better DEX. It built a different kind of economic experiment. Instead of letting liquidity providers earn fees based on how much they deposited, Solidly made governance voting the key to fee capture. Users who locked up their $SOLID tokens could vote on which trading pools should receive protocol fees. And here’s the twist: those votes weren’t free. Traders and liquidity providers could pay “bribes” in other tokens to influence votes. This created a complex, almost game-theoretic layer on top of trading.

It sounded clever on paper. But in practice, it didn’t scale. There are only five trading pairs on Solidly V1. That’s it. No ETH/USDC. No BTC/Fantom. No stablecoin swaps. Just five tokens, mostly obscure or low-volume ones. If you’re trying to trade anything mainstream, you won’t find it here.

The $SOLID Token: A Ghost of Its Former Self

The entire protocol runs on $SOLID, its native governance token. At its peak in January 2023, $SOLID hit $7.38. Today, it trades around $0.016. That’s a 99.78% drop. The market cap? Just $211,210 as of October 2025. It’s ranked #6267 on CoinGecko. That’s not just low-it’s near the bottom of the barrel.

Why the collapse? Because the model didn’t attract real users. The “bribe” system sounded like a clever way to align incentives, but it became a bottleneck. Few people had enough $SOLID to make meaningful votes. And without votes, the fee distribution mechanism stalled. Traders didn’t stick around because the slippage was terrible. Liquidity providers left because the returns were negligible. The protocol became a feedback loop of neglect.

Even wallet support is minimal. You can hold $SOLID in Atomic Wallet, but that’s about it. No major custodial exchange lists it. No DeFi aggregators like 1inch or Matcha include it as a default option. You have to go directly to the Solidly interface on Fantom, connect your wallet, and hope you don’t get front-run or stuck with a bad trade.

How Solidly Compares to Other DEXs

Let’s put Solidly next to the real players:

Solidly vs. Major Decentralized Exchanges (2025)

Feature	Solidly	Uniswap V3	PancakeSwap	Curve Finance
Blockchain	Fantom only	Ethereum, Arbitrum, Polygon	BSC, Ethereum	Ethereum, Polygon, Avalanche
Trading Pairs	5	Over 10,000	Over 800	Over 1,000
TVL (Total Value Locked)	Under $500K	$3.2B	$1.1B	$2.4B
Market Cap (Native Token)	$211K	$1.8B	$1.3B	$1.1B
Liquidity Depth	Very low, high slippage	High across major pairs	High on BSC	Best for stablecoins
Primary Use Case	Speculative governance	General trading	Low-fee swaps on BSC	Stablecoin swaps

There’s no contest. Solidly doesn’t compete-it’s barely visible. Uniswap handles billions in daily volume. Curve specializes in low-slippage stablecoin swaps. PancakeSwap dominates BSC with a massive user base. Solidly? It’s a ghost town.

Why Solidly Failed to Gain Traction

Three reasons stand out:

• Too few trading pairs-You can’t build a DEX with five tokens. Traders need options. Liquidity providers need volume. Solidly offered neither.
• No cross-chain support-Fantom is a fast, cheap chain, but it’s not the default. Most DeFi users are on Ethereum, Arbitrum, or BSC. Solidly locked itself into a smaller ecosystem.
• Complex governance that didn’t work-The “bribe” system sounded innovative, but it required active participation from token holders. Most $SOLID holders were speculators, not long-term participants. Once the hype faded, the votes stopped.

Even the security model didn’t save it. Solidly had a $200,000 bug bounty program-good for credibility-but no one was using it enough to trigger real audits or pressure for updates. The protocol hasn’t had a meaningful upgrade since 2023.

Is Solidly Worth Using Today?

If you’re a trader? No.

If you’re a liquidity provider? Even worse.

The slippage on its few pairs is often over 10%. That’s not normal-it’s dangerous. Even small trades can get wiped out by price impact. And because the liquidity is so thin, you’re likely to experience impermanent loss without any meaningful fee rewards to offset it.

If you’re holding $SOLID because you believe in the long-term vision? The data says otherwise. Price predictions are brutal: Bitget forecasts $0 by end of 2025. CoinCodex expects a 25% drop in the next month. There’s no roadmap, no team updates, no new features announced. The website hasn’t changed in over a year.

This isn’t a protocol on the brink of revival. It’s a project that burned out.

Who Should Still Care About Solidly?

Only two groups might find value here:

• DeFi historians-Solidly is a case study in how even brilliant ideas can fail without user adoption. It’s a lesson in the difference between theoretical innovation and real-world utility.
• Speculators with high risk tolerance-If you’re willing to gamble on a 99.78% crash that might somehow rebound (unlikely), then $SOLID’s price is cheap enough to buy a few tokens for fun. But treat it like a lottery ticket, not an investment.

For everyone else? Move on. Use Uniswap, PancakeSwap, or Curve. They’re alive, liquid, and reliable. Solidly is a relic.

What Happens Next?

There’s no sign of a Solidly V2. No announcements. No developer activity on GitHub. No community calls. The last major tweet from the team was in March 2024.

In DeFi, silence is death. Projects that stop building die quietly. Solidly is already dead. It just hasn’t been buried yet.

If you’re looking for a DeFi protocol with real momentum, don’t waste time on Solidly. Look at newer chains like Sei, Berachain, or even the latest Ethereum L2s. They’re where innovation is happening-not in a ghost protocol on Fantom with five trading pairs and a $200K market cap.

Solidly crypto exchange was once a bold experiment. Now, it’s a cautionary tale. Innovation without adoption is just noise. And in DeFi, noise doesn’t pay the bills.