In the past 2 months, the Crypto market has changed dramatically. On one hand, more and more “new money” rushes into Blockchain and DeFi; on the other hand, the craziness of “Liquidity Mining” has ended.

When we were writing the code of V2, we spent quite some time in thinking. We still believe in the future of decentralized finance, and will stick to our very initial goal: to bring more liquidity to the market and to provide investors more innovated assets.

Comparing to the old version, V2 has the following features:

  • It doesn’t provide liquidity mining for SODA itself.
  • Based on the functions of AAVE, it will provide a series of vaults for stable coins, including DAI, USDC, and…

Image for post
Image for post

Now in “My Wallet”, you can delegate your vote to yourself, or to the Devs. No matter which option you choose, you can always make changes later.

After the delegation, you will be able to participate in the future governance of the platform.

After enough users delegate theirs votes (hopefully in 3 days), we will vote on the first proposal, which is whether we should move forward with V2.

Some users mentioned that in V2, we should have incentives for the voters, which we totally agree. During the waiting period, we will add a voting incentive plan into the V2 proposal.

Image for post
Image for post

The SODA token’s circulation is approaching 100,000. We, the Soda team, appreciate the support that we have received from all of you.

Again, yield farming is a highly risky game. We understand that the SODA token’s price went down a lot, but everything happened was purely due to the supply and demand of the market. Don’t participate in anything that is beyond your risk tolerance.

It was mentioned earlier that, after the initial 100,000 tokens are distributed, we will let the community vote to decide what to do next.

Here is a proposal from us, called “Soda V2”. It comes from us the dev team again, but Soda holders, you have the right to approve or disapprove it. You can also join the discussion in Discord

Image for post
Image for post

Dear Community,

We thank you for your patience while we patch and deploy a fix for the bug. Looking back over the past 48 hours, we have done our best to reduce the asset loss. We tracked all the on-chain data and counted the total loss. In total, we found 17 addresses that were affected by this bug, of which 12 addresses totaling 448.339 WETH principal were liquidated by hackers. The actual loss to the victims is 134.5017 WETH which is 30% of the principal.

Compensation Plan

We are grateful for community support and encouragement. Here’s our compensation plan to the victims: We are willing to compensate the remaining 30% of original locked WETH in the form of SoETH from our SodaDev Pool. For example, if you locked 100 WETH, borrowed 70 SoETH, and lost your locked principal, we will send you 30 SoETH as compensation. …

Image for post
Image for post

Dear Community Members,

Your Soda is almost ready! The initial farming will start at 00:00 am UTC 20th September.

We have deployed all the contracts. Please check Github for more details.

Soda contracts as below:

Get ready to start the adventure!

The Soda Team

Image for post
Image for post

Dear Community Members,

Unfortunately due to the unsustainable gas price on Ethereum, we need to delay the initial yield farming event again. We sincerely apologize for this additional delay.

We planned to deploy the contracts to mainnet as soon as possible, however the Ethereum gas price has reached an unprecedented price of 500 GWei (about ~5x higher than previous averages).

To deploy all of our code, it would easily cost us as much as 80 ETH and honestly, it’s far beyond our budget. …

Image for post
Image for post

In the past few days, we have been working very hard on the Soda project, and we’re very eager to launch it to the community. We also really appreciate the huge support from the community and external partners. However during this time, we have noticed that the market is rapidly changing, and the economic risk is getting higher and higher for new projects.

Some community members have shared their opinion that the current token economy model is too radical and may encounter high risk in a rapidly changing market. In order to prevent the market risks, we have decided to modify the existing token economy model and postpone the initial yield farming launch for 48 hours. The new official launch will be on September 18th (UTC) at 12:00 a.m …

Image for post
Image for post

The SODA project is less than 24 hours 🕑 away from launch and we have been exploring a very interesting phenomenon. Cefi Exchanges are breaking the norm and are striving to innovate by expanding into decentralized finance and business. For example, Binance Smart Chain and HipoSwap of are both aggressively developing DeFi projects for their clients.

In order to support the decentralized revolution, we have decided to add two additional pools and adjust the distribution rewards prior to launch.

  • Pool 1 is for WETH — stake to earn SODA;
  • Pool 2 is for USDT-ETH SLP — stake to earn SODA &…

A Yield Farming Liquidity Protocol

Image for post
Image for post

Welcome to Soda Land!

Whether you’re a Sushi Chef or you totally missed the boat, no worries. Either way, you’re going to love SODA!

SODA is the next generation of DeFi that will take Yield Farming to where it has never gone before! Strap in and get a straw — this is gonna be soooooo good!

Different from other projects, Soda is far more than just another farming token — that’s so “July” and boring. For instance, with SODA, you can borrow and invest with higher leverage via our unique and awesome SoETH token, completing the DeFi loop back to Ethereum (take that Sushi!).

What’s so special about Soda?

Ready to be impressed? SODA uses novel dual token economics(SODA and SoETH), and this means that anyone can deposit Wrapped Ethereum (WETH) along with other assets to earn SODA. …

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store