DeFi

“Exchange what you want, with who you want”

Published

10 months ago

10 June, 2024

“Exchange what you want, with who you want”

HONG KONG, June 10, 2024 /PRNewswire/ — The world of decentralized finance (DeFi) is a vital part of the cryptocurrency industry, offering innovative financial solutions outside of traditional banking systems. However, as the industry evolves, DeFi mechanisms become more and more complex. This complexity presents challenges not only for newcomers but also for seasoned enthusiasts, often referred to as “DeFi Degens,” who need a lot of time to understand the sophisticated operations.

Founders

SOFA Workflow Overview

In simpler terms, if early DeFi could be compared to a basic children’s Lego set, today’s DeFi is more akin to a Technic Lego set with thousands of complex pieces. Innovating within DeFi to reduce this complexity and make it more accessible has become a pressing need.

To solve this problem, various DeFi protocols, investment institutions, middleware providers and blockchain builders have come together to form SOFA.org, a decentralized non-profit organization. SOFA.org is dedicated to promoting the highest standards in DeFi, supporting high-quality projects, and advocating for the widespread adoption of blockchain technology in finance. Its founding members include notable names such as Galaxy Asia Trading Ltd, OKX Wallet, Coincall, HashKey Capital, SignalPlus, and Chainlink, among others.

SOFA.org’s grand vision for an on-chain clearing ecosystem

Clearing is one of the most critical elements of DeFi derivatives trading, ensuring the stability of the system and protecting the interests of all participants. Today’s DeFi derivatives are diverse and complex, involving various assets and complex business logic. In the decentralized world, clearing is carried out via smart contracts and decentralized protocols, enabling automated processes with minimal trust required. This real-time clearing ensures the security of participants’ funds and maintains the integrity of transactions.

SOFA.org aims to tackle the complexities of on-chain derivatives with the near-term goal of creating a comprehensive clearing and settlement ecosystem. Essentially, SOFA.org aspires to be the “Android” of DeFi, allowing various DeFi protocols to clear different financial derivatives on its platform. Just like mobile apps installed on different phones, these derivatives positions can operate seamlessly across different protocols. By joining SOFA.org, the protocols will achieve underlying interoperability, allowing them to mutually offset their derivatives positions. This will pave the way for even more complex and sophisticated on-chain financial products.

Overview of SOFA protocols

SOFA.org unveils a set of structured products called SOFA protocols. This innovative protocol brings together several functions of the DeFi product, creating a hybrid derivatives protocol. The initial launch will take place on Ethereum and Arbitrum, with future expansions planned for Linea, X Layer and other EVM-enabled chains.

SOFA protocols offer a new way to manage crypto by making transactions clear and secure. It allows users to benefit from the best products without worrying about who they are trading with or where their money is held. All details are recorded transparently on the blockchain, supporting a wide range of products. Tokenized positions improve capital efficiency and can be pledged on DeFi and centralized platforms as assets. Using ERC-1155 tokens saves money and the system is designed to be durable and user-friendly.

As the first proof of concept of SOFA, they will initially focus on three popular product structures called Rangebound, Bull Trend, and Bear Trend.. All of these products are available in “Earn” or “Surge” format. Additionally, additional product types will be continually added based on user demand and ecosystem feedback.

SOFA Workflow Overview

The volatile nature of crypto asset prices often causes them to move up, down, or sideways. SOFA protocols recognize these patterns and have transformed them into Bull Trend, Bear Trend and Rangebound structures, and available in “Earn” and “Surge” formats to suit different risk preferences.

Earn is designed for users seeking stability and capital preservation. This involves depositing initial funds into established yield protocols such as Compound or AAVE to generate base interest. This process is meticulously reviewed, with governance token holders voting on the choice of protocol. If market conditions match specific criteria, additional profits can be generated.

Earn aims to minimize risks, ensuring the safety of the initial deposit, providing stable returns and providing the opportunity to make additional profits without risking capital. Even though potential returns are lower than high-risk products and profits are capped in highly volatile markets, it remains a reliable option.

For example, if a user opts for a Rangebound structured product with an annual yield of 4% in Earn and predicts that ETH will fluctuate between $3,500 and $3,900 by June 28, they will get an excess return if the ETH remains in this range at expiration. If ETH breaks out of this range, it will still earn a 4% annual return.

Overvoltage aims to maximize potential returns by speculating on high-risk strategies. This product involves predicting a specific price range for crypto assets at a given time. If the price is within the expected range, users receive high returns. However, if the prediction is incorrect, the user will lose the initial deposit.

For example, if a user predicts that the price of Bitcoin will be between $71,250 and $74,000 on June 11 and purchases notes worth $20, the potential return could be $60.28. Conversely, the maximum loss would be $20.

SOFA Protocols’ products look like a combination of various DeFi protocol offerings. The innovation of SOFA protocols lies in integrating the strengths of multiple protocols, providing a more intuitive user interface and user-friendly interactive products. This approach is particularly beneficial for new entrants and those who do not wish to delve deeper into the complexities of DeFi.

SOFA Protocols aims to improve user experience and offer a rich set of financial tools to the market. In doing so, it promotes the further development of the DeFi ecosystem, making it accessible and beneficial to a wider range of users.

Tokenomics: the war of curves

In terms of business model, SOFA.org uses a dual-token model similar to many GameFi projects, incorporating unique game theory mechanics. The dual token system includes the RCH utility token and the SOFA governance token.

RCH token: The total supply is 37 million. Before the official launch, 67.6% (25 million RCH) will be placed in a Uniswap liquidity pool with at least 700 ETH (approximately $2.7 million) to establish the initial price and liquidity. The corresponding Uniswap LP tokens will be destroyed, permanently blocking this part of the liquidity in Uniswap.

The remaining 32.3% of RCH tokens will be released on a fixed schedule. After launch, 12,500 RCH will be unlocked daily, decreasing by 20% every 180 days until all tokens are distributed. This allocation method ensures a gradual release, avoiding market volatility.

Initially, daily RCH production represents only 0.05% of the circulating supply, which has minimal impact on the market. Simultaneously, all revenue from the SOFA.org ecosystem will be used to purchase and burn RCH on Uniswap, further increasing its scarcity and value.

SOFA Token: The launch is planned six months after the project comes into operation. SOFA tokens grant their holders voting rights to directly participate in ecosystem decisions. As a decentralized, non-profit, open source technology organization, all decisions at SOFA.org will be determined by the votes of SOFA token holders.

Early Founding Members, Developers, Ecosystem Advisors, Active Community Members, Early RCH AMM Liquidity Contributors, and CeFi and DeFi protocols supporting SOFA Protocol Position Tokens will have the opportunity to get SOFA tokens.

The economic value of SOFA tokens is directly linked to their governance function. Holders can vote on the introduction of new financial products, the ratio of RCH distribution between introduced products and the ratio of distribution between protocols within the ecosystem. The inclusion of new guarantees and new partners also requires the approval of SOFA holders.

As SOFA.org’s popularity grows, a positive flywheel effect between RCH and SOFA will ignite the market. Increased use of SOFA.org will result in full use of fees to purchase and burn RCH. However, the daily production of RCH is fixed, which further increases its rarity and market value.

As RCH prices increase, some users will increase their use of SOFA.org ecosystem projects to obtain more RCH, while others will purchase SOFA tokens to influence the distribution of RCH. Some projects in the SOFA.org ecosystem may even bribe SOFA holders to obtain higher RCH allocation ratios, thereby boosting project usage.

It seems a new war of curves is on the horizon.

Media Contact:
Lynloo Lee
+65 88107289
[email protected]

SOURCE SOFA.org

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

9 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

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Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

9 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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