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 (0:00).
New Token Distribution Model:
- The total supply of SODA tokens will be 1,000,000.
- 1 SODA token will be generated every Ethereum block and will be distributed proportionally to all who participate in the available liquidity pools.
- During the launch phase of SODA, the above minting strategy will be live for the initial 100,000 blocks (about 2 weeks) after launch.
-The remaining 900,000 tokens will rely solely on community governance to decide the future minting strategy of SODA.
- There will be NO 10x higher production of tokens during the launch phase.
If you have read our previous announcement, you can understand that the SODA project is not just a simple yield farming project; we have added interesting and unique borrowing business logic to a new ecosystem. To this end, we have a clear and flexible smart contract system that is adaptable to community approval. We have high expectations for this project and hope that all can benefit from SODA Finance.