We’re excited to announce that SOFA is officially joining the Chainlink BUILD program. As a part of BUILD, we aim to accelerate ecosystem growth and long-term adoption of its comprehensive onchain asset settlement framework by gaining enhanced access to Chainlink’s industry-leading oracle services and technical support, as well as incentivizing greater cryptoeconomic security, in exchange for a commitment to provide network fees and other benefits to the Chainlink community and service providers, including stakers.
We’re confident that through enhanced support, secure off-chain services, and the backing of Chainlink’s vibrant community, we can accelerate awareness of SOFA and realize the adoption of its onchain asset settlement framework.
SOFA: Building a Permissionless DeFi Ecosystem Settling Financial Assets Onchain
SOFA is a non-profit DAO dedicated to developing a comprehensive framework that enables financial assets to be settled onchain. By helping deliver key financial instrument data onchain along with standardized dApp and API packages, transferable position tokens representing collateral claims can be created onchain and supported across various exchanges and protocols. SOFA’s initial protocol will focus on crypto structured products, enabling seamless execution between depositors and market makers through a ready-made dApp and standardized vaults.
Why We Joined Chainlink BUILD
SOFA joined BUILD to maximize the benefits of security and reliability that Chainlink’s oracle infrastructure provides. As part of BUILD, SOFA will receive key benefits, including access to and integration of Chainlink Functions and Automation to deliver key information onchain at preset times, access to new Chainlink product alpha and beta releases, among other benefits.
In exchange for these services, SOFA will make a percentage of its native token supply available to Chainlink service providers, including stakers, over time. These mutually aligned economic incentives enable both communities to support one another.
“We’re excited to join Chainlink BUILD to gain access to industry standard oracle services and expert technical support. As the industry standard for bringing data onchain, Chainlink is critical infrastructure for developing an onchain asset settlement framework.” — Jinhong
About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $12 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.
Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.
About SOFA
SOFA.org offers a secure, transparent, and efficient solution for decentralized clearing. We transform counterparty settlement risks into secure EVM-based blockchain vaults. Unlike other protocols, we record all key instrument details on-chain via smart contracts, creating transferable Position Tokens as collateral claims. Our standardized dApp and API packages make it easy for platforms and market makers to integrate, providing a 24/7 RFQ experience focused initially on Structured Products.
Furthermore, the utility token (RCH) will be launched 100% fairly, with airdrops available to actual users and the remaining fixed supply tokens in a Uniswap pool. Additionally, all protocol earnings will be used for daily token buybacks and burn, ensuring a long-term deflationary supply and aligning the price trajectory with accumulated protocol usage.
We are always on the look out for experienced derivative players, EVM-compatible chain builders, and token staking partnerships for our upcoming airdrop season.
Join us today at SOFA as we elevate DeFi to a new standard!