With a new U.S. administration and the potential beginning of a new era for crypto, we eagerly anticipate greater collaboration between mainstream finance and the crypto space. This aligns perfectly with SOFA’s long-term vision of advancing DeFi to the next level of institutional integration. Meanwhile, we have an exciting lineup of updates on our upcoming developments to share with you.
1) Curve Integration
SOFA is excited to announce the expansion of our strategy collaboration with Curve to integrate RCH into their vast ecosystem and unlocking new token use cases for the community:
- RCH Lending on Curve: RCH is now officially live on Curve Lend, allowing holders to lend RCH against receiving crvUSD in return. We believe this lending facility will be an important expansion for SOFA as we further build out our use case expansions.
- crvUSD Deposit Support on SOFA: SOFA will support Curve’s new crvUSD as a deposit token, giving users another yield ource via crvUSD’s staking income stream.
Keep an eye out as we continue to enhance our collaborative partnership with Curve and other DeFi protocols in the future.
2) New Automator Functionality
As a response to popular user feedback, we are going to unveil SOFA’s new ‘Automator’ function to dramatically enhance the user experience of earning secured yields with minimal hassle.
- Deposit-and-Forget: The Automator will allow users to automatically roll their positions into SOFA strategies without incurring additional gas fees, dramatically streamlining the user journey experience without sacrificing any security benefits.
- Monetize Options on Both Sides: On top of our existing Earn vaults, users will be able to sell and monetize option premium in an optimized and limited downside manner based on the current volatility structure. Be spoiled with the opportunity to monetize volatiliy on both sides with our complete product suite!
- Unlock External Strategies: Based on ecosystem feedback, we will be bringing additional vaults over time to allow well informed participants and other reputable traders to showcase their yield generation strategies within the full SOFA workflow.
This has been one of our most requested functions and we are excited to finally bring that to our users!
3) OKX x SOFA Campaign
We’re thrilled to announce a collaborative campaign with OKX’s DeFi platform, bringing SOFA’s Earn products to their extensive user base. This partnership has already received positive feedback, providing a significant boost in traction for SOFA. We’re excited to showcase our product offerings at the perfect time for the anticipated bull market! Discover more about the campaign here.
4) SOFA Ambassador program
We’re excited to announce the launch of the SOFA Ambassador Program, designed to fuel community growth and welcome passionate members to join us on this journey. As SOFA Ambassadors, participants will have the opportunity to drive meaningful change within the community, while helping to expand SOFA’s reach and influence. Learn more and sign up here: blog.sofa.org/ambassador/.
5) SOFA Actively Engages in Industry Events
SOFA is committed to staying at the forefront of industry developments by actively participating in key events and conferences. At Chainlink’s SmartCon 2024, our founding partner Augustine Fan joined the “Building Tomorrow, Today” panel alongside top blockchain innovators, sharing insights on TradFi and DeFi integration, risk management, and cross-chain solutions.
6) UI Change
We’re currently working on UI improvements to create a more intuitive experience for our DeFi users while making it easier for newcomers to get started. We’d love to hear your ideas—feel free to share them in our Telegram or Discord communities! Thank you, and stay tuned for updates! — SOFA.org Team