What is soda protocol?
Soda Protocol is a decentralized lending and derivatives trading protocol on the Solana ecosystem. Soda provides an on-chain credit rating system based on user transactions.
Soda Protocol highlights
Soda stands out most with lending platforms geared towards integrating credit ratings in the Solana blockchain. Soda’s goal is to improve capital efficiency (Capital Efficiency) for the DeFi ecosystem. In Soda will include 3 main parts including:
Soda FI: DeFi platform provides leveraged transactions, mortgage loans for the ecosystem. Supported asset classes include BTC, SOL, SRM, USDC, USDT, ETH, RAY, weWETH, wbWBNB, UST, mSOL and ORCA. The advantage of Soda FI is that it helps users take advantage of inherent assets to increase profits or borrow by mortgage, there will be a dashboard for you to monitor NET APY and your position.
Soda Maze: Provides users with privacy through ZK-SNARK (allows anonymous withdrawals).
Soda ID: DID service gives users full ownership of information (on-chain and off-chain).
Soda Protocol core mechanisms are lending, leverage, liquidity, Soda ID – on-chain credit rating system for app credit, airdrop, governance,…
In addition, Soda ID has many other factors such as if the user has a high credit score, he will get maximum LTV increase, incentivize mining and admin votes, and also receive liquidations and service fees. .
Benefits of holding SODA Token
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Project team, investors, partners
Project team
The team’s information is not disclosed, however, the development team behind Soda Protocol has been working on a long-term plan to help DeFi and Web 3.0 grow stronger over time. In the future, the team will also announce the empowerment of users to stake SODA tokens and a “tip” about additional rewards (airdrops).
Investors
Some of the investment funds that have participated in Soda’s fundraising rounds include Apsilon Trading, Infinity Ventures Crypto, Axia8 Ventures and some brother funds, which can be seen in the following figure.
Partner
Because Soda Protocol is built in Solana ecosystem, therefore, the protocol also integrates with DEXs, Derivatives, and Aggregator Platforms such as Raydium, Orca, Francium, etc.
Roadmaps & Updates
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Soda Protocol (SODA) Token Information
- Token Name: Soda Protocol
- Ticker: SODA
- Blockchain: Updating…
- Token Standard: Updating…
- Contract: Updating…
- Token Type: Utility, Governance
- Total Supply: Updating…
- Circulating Supply: Updating…
Up to the time of writing the Soda Protocol project article, there has been no detailed announcement of any token launch. The project also mentioned about the airdrop for users participating in the Soda ecosystem, if you are interested, you can learn and experience Soda’s products (Soda Fi, Soda ID and Soda DAO).
I will update information about SODA tokenomic when there is official information from the project.
How to earn and own SODA Token
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SODA Token exchange & storage wallet
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Information channels of SODA Token
summary
Following a successful Alpha DevNet test, Soda Protocol’s capital-efficient lending platform is taking its first steps towards integrating lending with the credit rating system on the Solana blockchain. Above is the latest information about SODA that I have updated, Soda Protocol is still in the process of completing the puzzle pieces, I will update the post right away to you guys as soon as possible.
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Source: What is the Soda Protocol (SODA)? Complete set of SODA cryptocurrency
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