Sollet
Wallet
Sollet is a Solana-native web wallet and asset bridge
Risk Rating
Watch Out
Protocol Code Quality
Protocol Maturity
Protocol Design
What is Sollet?
Ready to earn 15% yield or more with Exponential?
InvestInformation
Risk Assessment
Watch Out
Protocol Code Quality
- Code not reviewed by any experienced auditors
- Public team promotes accountability
- No documented protocol hacks since launch
Protocol Maturity
- Core protocol launched in 2020; maturity over one year minimizes technical risk as smart contracts are well battle-tested
- Top 10% by total value locked reduces risk
- Core contracts can be upgraded with just an EOA wallet
- No timelock exists or no information documented, which mean a malicious actor could approve upgrades without any delay
- No governance token and/or contracts are fully immutable
Protocol Design
- No death spiral concerns
- Solid controls to prevent oracle price manipulation
- Externally verified bridge system that is reliant on an external set of validators who don`t have to post any collateral; users essentially have to put their trust in the reputation that all validators will act honestly
- Bridge messages are validated by an external third-party that usually comprises a limited multisig
- Sollet locks assets on the native chain to mint token receipts on Solana. This increases liquidity on Solana and the minted token is backed 1:1 by assets on the origin chain
Things to know about Sollet