RCH is the core token of the SOFA platform. Users cannot buy RCH in advance or obtain it from developers. To earn RCH, users must use SOFA.org services or participate in later referral programs. This approach ensures that only active users benefit, avoiding quick sell-offs common in other projects.
Every day, users transacting on SOFA.org earn RCH based on their activity. Even the project developers do not own any RCH on day one. This fair launch method ensures long-term success and benefits for the platform's true users.
RCH has a total supply of 37 million tokens, with 25 million (approximately 67%) pre-minted and locked in a Uniswap liquidity pool. The remaining 12 million (33%) will be distributed to protocol users and supporters through airdrops. The long-term deflationary design ensures that the token value appreciates with increased transaction volumes.
RCH's total supply is capped at 37 million. At the project's launch, 67% of RCH (25 million tokens) were pre-minted and placed into Uniswap's V3 pool, paired with about 725 ETH (approximately $2.7 million) as the initial liquidity pool. This initial liquidity is not owned by anyone; the corresponding Uniswap LP tokens are promptly destroyed after depositing into the LP, ensuring the initial liquidity pool can never be withdrawn.
33% of RCH will be distributed to users through airdrops on a set schedule. All SOFA protocol revenue will be used to buy back and burn RCH on Uniswap. This deflationary mechanism means that as transaction volumes increase, more RCH will be burned, reducing supply and increasing value.
RCH's long-term value is tied to the protocol's usage. Prices will rise with active usage, benefiting active users and holders. The locked RCH in the initial liquidity pool ensures an effective price floor, aiding in long-term value stability.
SOFA.org is a decentralized non-profit organization dedicated to advancing the decentralized finance (DeFi) ecosystem. Its operation model is to enhance the highest DeFi standards, support high-quality projects, and promote the adoption of blockchain technologies in mainstream finance.
SOFA.org operates as a decentralized autonomous organization (DAO) focusing on three key areas in DeFi:
Education and Technological Advancement: Innovate and share knowledge, promoting learning and exchange among participants.
Research and Innovation: Develop new DeFi solutions with tangible value.
Industry Standards: Establish best practices for protocol safety and capital efficiency.
SOFA is the governance token of SOFA.org, allowing holders to participate in the ecosystem's decision-making process. SOFA holders have voting rights on key proposals, helping shape the future of SOFA's emerging ecosystem. This token encourages community ownership, ensuring that the community has a direct say in the platform's development and management.
SOFA.org will build and support protocol projects, driving DeFi to become a vital infrastructure of traditional finance. Its inaugural project will focus on providing a transparent, scalable, and decentralized clearing solution for handling on-chain crypto structured products. Users can purchase a variety of structured products from unlimited market makers on SOFA's open dAPP to earn attractive yields, with transactions automatically settled via standardized vaults to eliminate all counterparty risks.
Additionally, platform users will earn direct rewards through the native utility token RCH. RCH is a fixed supply deflationary token that can only be earned through protocol usage. To ensure incentive alignment, all protocol earnings will be recycled daily to buy back and burn RCH tokens, reducing total float and accruing all profits to user-token holders over the long run.
The SOFA protocol is our ambitious attempt to establish standards for how financial assets can be atomically settled on-chain, while simultaneously catalyzing DeFi capital liquidity through transferable position tokens.
Transaction and instrument parameters are immutably recorded on-chain. Executed assets are locked into SOFA vaults on-chain as a secure, transparent, and neutral third-party settlement option servicing both DeFi and CeFi platforms. All protocol vault contracts have been audited by participants from the Secure3 Audit Contest, consisting of a wide group of security experts and anonymous whitehat participants. This allows users peace of mind to focus on return on capital rather than return of capital.
Through our advanced dAPP and comprehensive API support, the protocol facilitates a fair and competitive bidding process among market makers to ensure users transact at the best available prices. The continued growth of the SOFA ecosystem will nurture a vibrant and active marketplace where users will ultimately benefit from the widest selection of investment products offered at the most competitive prices. All executed trades will be automatically sent to our on-chain vaults, allowing users to transact based on optimal pricing rather than credit concerns over counterparty selection.
The SOFA protocol continually expands its network of reputable market makers to stream live prices for an ever-widening range of structured product investments. There are no epoch restrictions or pricing blackouts for product RFQs (request-for-pricing), ensuring users can transact whenever and wherever they want. SOFA.org can provide comprehensive product pricing tools, API documentation, and other technical support to assist aspiring market makers in becoming regular and contributing members of our ecosystem.
Website: https://www.sofa.org/
Twitter: https://x.com/SOFAorgDAO
Discord: https://discord.gg/sofaorg
Telegram: https://t.me/SOFAorg
Purchasing RCH tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:
1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.
2. Search for RCH: Use the search function within the trading platform to find "RCH", locate the trading pair, such as RCH/USDT, and click to enter its dedicated page.
3. Place an order: In the RCH/USDT trading page's spot trading area, enter the amount of RCH you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.
4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased RCH will automatically be deposited into your LBank spot wallet.
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