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When it comes to ve(3,3), we have to introduce Solidly first. As the predecessor of ve(3,3), Solidly is a project initiated by Andre Cronje, known as the 'Father of Decentralized Finance', on the Fantom network. Within two months of Andre Cronje announcing the launch of Solidly on Fantom on-chain, Fantom's Total Value Locked (TVL) skyrocketed to the third place on DefiLlama. However, after Andre Cronje announced his withdrawal from the world of Decentralized Finance through his article 'The Rise and Fall of the Encryption Culture', both Solidly and Fantom's TVL plummeted significantly.
Nevertheless, the ve(3,3) mechanism used in Solidly continues to impact Decentralized Finance
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