Solid Protocol: Simplifying Exposure To DeFi

Timothy C May predicted in the 1990s’ that technology would develop at such a fast pace that untraceable digital currencies would power up grey-listed businesses; however,  most of the technology pundits didn’t respond with proactiveness when two decades later Bitcoin popped out as per his prediction. Think about a group who would have believed and bought all the Bitcoin available in 2008 after trusting May’s prediction. They would have been left with less space to store their long-term patience after BTC’s magnificent run in the last couple of years. I personally feel that most people think about Papa John’s Pizza and Laszlo Hanyecz 10,000 BTC payments every time Bitcoin hits a new All-Time-High (ATH).

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And everyone wants to know which token could be the next Bitcoin and pizza day moment in their life. The reason for the same is there’s too much fear of missing out (FOMO) in the crypto market and out of the FOMO, most investors often buy tokens at their highest point thinking it is going to go even higher.  This results in investors getting REKT or their money staying frozen for years to get back to the same point for recovery. 

Having said that, the crypto market is in desperate need of something which can automatically predict for investors well in advance and not let them miss the magical moments of earning as high as 10,000% returns like the 35-year-old warehouse manager who made $1 million by investing $8,000 into Shiba Inu when it wasn’t popular at all. 

Solid Protocol is the answer to the shortcomings in investment that most investors face in terms of identifying and investing in crypto assets that could become the next moonshot. 

What is the Solid Protocol?

It is the first and the only DeFi tracker which provides complete exposure to the DeFi market with a single token. The upside of the Solid Protocol is the Solid Token which does not charge any entry and exit fees for getting the exposure of the entire DeFi market. Using the Solid Token the retail investors and institutions can skip the hassle of always tracking about the DeFi market and identifying the next moon shot token to add that to their portfolio. 

History of the Solid Token: How Everything Started?

The creators mainly pursued the idea post the ICO boom somewhere in 2018 when the crypto market was beginning to prepare for the hard winters ahead and retail investment wanted better alternatives to gain more exposure to a whole new world of crypto. Though even at that point the ETF and crypto index made sense; however, regulatory hurdles and lack of technology bottlenecks prevented proliferation further. 

For example, to set up a crypto fund, the crypto fund managers needed to closely follow the market cap dominance and exchange one asset in the basket for another. Doing so would have meant the managers incurring all the entry and exit fees and putting the burden on the crypto investors. In a way, making the entire process de-incentivizing for the investors. 

So, the creators instead of mind meddling on all these affairs developed a native token called Solid to perform all of these transactions in a trustless and decentralized manner using smart contracts on the investor’s behalf. All that the investor needed to do was own the Solid token in their wallet and let the ecosystem decide on their own what to do with their funds and investment. Hence simplifying the way to get complete exposure of the upcoming DeFi market which was in the process of building up for the future ahead through a wide range of their use-cases. 

Market Cap of Solid Token and Recent Price Jump 

At the time of writing, Solid is trading at $0.01709 with a market cap of $85.405, making it the 6680 strongest crypto in the market. Though the ranking may not look promising initially for the crypto investor; nonetheless, the token has significant potential where it could solve problems of maintaining multiple portfolios, rather, hold one token and get exposure to a basket of other tokens in the DeFi space. Such utilities have piqued investors and recently within the last seven days, Solid Token nearly witnessed 700% price jump recovering from a low of $.0005965 on January 5 to an ATH of  0.040133 on January 17.