SOLID Review: Is This Terra Stablecoin Protocol Ready to Use?
SOLID is described as an over-collateralized stablecoin protocol on Terra, but key costs and safety details are unclear. There isn’t enough published detail to recommend using it yet.
By the SkyBitcoins review team · Updated
At a glance
SOLID key facts
| Type | Over-collateralized stablecoin protocol |
|---|---|
| Network | Terra (Phoenix; Terra2) |
| Tokens | SOLID stablecoin; CAPA governance |
| Audits | 2 listed; details not published |
| Token | SOLID |
| Value locked | $57.1K−34.9% 7d |
| Updated |
SOLID FAQs
What is SOLID?
SOLID is described as a Terra protocol where users deposit liquid-staking tokens (LSTs) and IBC assets to mint the SOLID stablecoin. Its homepage also describes lending, liquid staking and governance.
Is SOLID the governance token?
The protocol description identifies SOLID as the stablecoin users mint and CAPA as the governance token. Before using either, check the app’s current token details carefully.
What does SOLID cost, and has it been audited?
The protocol’s fees and the names, scope and findings of its two listed audits are not published in the project details. That leaves important questions about costs and contract risk unanswered.
Compare
SOLID alternatives
Liquity V1 offers interest-free LUSD loans against ETH, but borrowing fees, liquidation risk and independent frontends need care.
Liquity V2 offers user-set-rate borrowing against ETH and staked ETH, but you must choose a third-party frontend and manage liquidation risk.
Liquity V2 lets you borrow BOLD against ETH or liquid staking tokens at a rate you choose, but you must vet the frontend and manage liquidation risk.
Frankencoin offers collateral-backed ZCHF for borrowing, payments and savings, but check liquidation rules, fees and the exact network first.
Parallel offers USDp and sUSDp across five chains, but check variable yield, collateral and smart-contract risks before depositing.
Inverse Finance offers fixed-rate DOLA borrowing and sDOLA yield on Ethereum, but check market terms, liquidation risk and security before depositing.
Same category
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Mezo Borrow offers MUSD loans against Bitcoin, but check the full rate, collateral and liquidation terms before pledging BTC.
LiquidLoans offers 0% interest borrowing against ETH or PLS, but liquidation risk and unpublished fee and audit details merit caution.
POWERCITY Earn offers interest-free PXDC loans against PLSX, but collateral, peg and contract risks warrant caution.
Thala offers Move Dollar borrowing and other DeFi products on Aptos, but check live fees and collateral liquidation terms before depositing.
Balanced combines cross-chain DeFi with collateral-backed bnUSD, but check live costs, liquidation rules and audit details before depositing.
Balanced combines cross-chain swaps, lending and borrowing; check unlisted swap costs and the project’s security disclosures before depositing.
Same chain
More on Terra2
Stader offers non-custodial liquid staking, but confirm pool availability, exit terms and fees before staking.
Astroport offers multichain swaps and liquidity pools, but check fees, supported markets and audit details before depositing.
Terraswap offers wallet-based AMM swaps on Terra networks, but check pool liquidity, fees and the correct app before approving a trade.
LATOKEN offers centralized crypto trading and token discovery, but verify its fees, legal entity and withdrawal terms before depositing.
Stride lets you liquid-stake Cosmos assets such as ATOM and OSMO, but check its fees, supported tokens, and safety details first.
Eris Protocol is a staking project on Terra2, Nibiru, Injective and Terra.
How we checked
Sources
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