Solace is launching October 19th!
The idea behind Solace was envisioned because of the need to make the DeFi space more safe, secure and trusted. With that goal in mind, our protocol was built to enable millions of users to onboard, de-risk DeFi and become a viable alternative to TradFi. Our coverage policies can protect liquidity providers, Defi protocols or DAOs to mitigate loss from hacks, bugs and exploits. However, Solace is not about insurance or coverage products. Solace, first and foremost, is a community behind the protocol aiming at providing safety and confidence in a way that is accessible, simple, and transparent to everyone across the world. You can read more about our vision in Hello, World! post.
These are exciting times! Solace team has been hard at work for over 8 months and now we’re happy to publish our launch plans. We have been running on Ethereum Rinkeby and Kovan testnets since May, testing various components, finilizing the architecture, and going through security audits (both internal and external). Today we can announce the launch date and further development plans for the coming months.
October 19th
Mark your calendars because on October 19th you’ll be able to visit https://solace.fi/ and buy coverage for your liquidity positions on Ethereum across the following protocols:
Important note, at launch Solace will not have a native governance token $SOLACE publicly available, so please don’t fall for scams or try to buy it anywhere. There’s no on-going private sale or any asymmetric opportunity. The incentives and plans for $SOLACE governance token will be announced at a later date.
Before October 19th
Before the launch we will announce Solace Security Roadmap. This will include the release of the codebase on GitHub, the security audit results from Hacken and Quantstamp, and the bug bounties, so everyone will be able to take a swing at Solace protocol and familiarize themselves with the technical architecture. More than that, you’ll be able to contribute and help deliver the much-needed tools to the public.
We will also publish and explain the incentives model that will be in place at the launch. As state above, there will be no $SOLACE token at the launch time.
Post Launch Plans
You can imagine, the next few months will be busy… There are two major vectors of scaling:
- Vertical Growth. Solace core team will continue the development of new risk assessment models and products to provide a wider coverage selection. Beyond that we will support and help other teams in the ecosystem to get covered or deliver their own products built on Solace.
- Horizontal Expansion. Solace is a cross-chain protocol. This is a major driver for us, we aim to create a safe crypto environment, which doesn’t stop with Ethereum. We believe there’s a lot of value on other chains that could use some protection and we will deliver that. Individual dates and announcements will come shortly, you won’t have to wait long.
Another priority, as stated in Solace Launch DAO announcement, is the transition to native Solace DAO that will govern the protocol utilizing $SOLACE token. We’re currently working on the design and will engage with the community to make a final decision on the architecture and mechanics. This is an extremely important step and we want to make sure Solace DAO is set for long-term success and sustainability.
We also want to mention that we’re expanding the core team and hiring! Expect another post outlining the positions and the roles we’re looking to fill, but don’t hesitate to reach out on Discord if you ever wanted to join an exciting early-stage project and work alongside a great team. We want you to pursue your passion, so tell us what you love doing and let’s do it together.
Solace welcomes you!
Join our Discord, chat with the team and the community, provide feedback, or just meme around! We’ll be posting various bounties and atomic tasks for you to contribute soon as well, help push Solace to the new heights. Also follow us on Twitter for future updates.
