Hey SOFA.org Community!
We recently held an insightful Ask Me Anything (AMA) session on Telegram, giving our community a direct line to the SOFA.org team. It was a fantastic opportunity to discuss our latest developments, strategic direction, and the exciting future we’re building together for accessible DeFi structured products.
For those who couldn’t make it or want a quick recap, we’ve compiled the key questions and answers from the session below. Let’s dive in!
Introducing Augustine Fan, Co-founder of SOFA.org
The AMA kicked off with an introduction from Augustine Fan, Co-founder of SOFA.org, who brings deep experience bridging traditional finance and the crypto world.
- Q: Can you introduce yourself?
- A: Augustine shared his extensive 25 years of experience across both sell-side and buy-side markets, with the last 3-4 years focused on crypto. His background in macro and interest rates is particularly relevant to connecting crypto infrastructure with traditional industries, a core part of SOFA.org’s vision.
Product Progress and Roadmap
Our community was keen to understand the progress and future plans for SOFA.org’s product offerings.
- Q: Is product progress on track? What’s the roadmap?
- A: The team confirmed they have met expectations regarding product releases, successfully launching new features like Automator and Dual Products. Looking ahead, they are in discussions with new chain partners to expand yield solutions, with an estimated time of arrival within the next quarter.
Marketing Strategy: Evolution and Future Direction
Marketing is always a hot topic, and the team provided insights into their evolving strategy.
- Q: How is the current marketing strategy, and what’s planned for the second half of the year?
- A: SOFA.org acknowledges they have historically prioritized product and technical functionality over pure aesthetics. However, they are continuously evaluating and improving, as seen in the UI/UX revamp last year and the introduction of the Automator for passive participation. An upcoming facelift for the landing page is also planned.
The team also addressed the nature of their fair launch project – built on long-term belief rather than short-term gains, acknowledging that team movement can occur given the dynamic nature of DeFi and individual circumstances. They expressed gratitude for the continued support of mods and key contributors, emphasizing that the core management, development, and operational team remains committed since day one.
For the second half of the year, marketing will focus on leveraging shared resources through potential new partnerships for co-marketing and co-branding opportunities.
The SOFA.org Ambassador Program
A dedicated segment of the AMA focused on the Ambassador Program.
- Q: Tell us about the ambassador program. How does it work, what are its goals, and are there results to show?
- A: Denis, who manages the program, clarified that the program is active. Its primary goal is to increase the visibility of SOFA.org and its features across various social media platforms (Twitter, YouTube, LinkedIn, TikTok, etc.). Ambassadors are recruited to help achieve this goal and are rewarded for their efforts. Currently focused on English-speaking channels, there are plans to expand to other languages, including Mandarin. The program seeks individuals comfortable with Web3 and DeFi, ideally with a good social media following, to spread awareness and drive user adoption. The program is structured around social media engagement and attracting new users. Those interested were encouraged to reach out for more details.
Tokenomics: $RCH, $SOFA, and the Path Forward
Understandably, the community had several questions regarding the project’s dual-token model and tokenomics.
- Q: How has the RCH token and project performed? What’s the plan for $SOFA token listing? How will RCH burning be boosted, and what about marketing before the $SOFA launch?
- A: The team reiterated that the fair launch, dual-coin design is built for a long-term, sustainable tokenomics system supported by SOFA.org’s core use cases: providing secure real yields on-chain and acting as an industry-wide settlement layer for crypto and TradFi. They deliberately chose not to follow the inflationary models prevalent in the past, focusing instead on the longer road of validating their use-case vision. They remain committed to this vision despite challenges.
The timing of the SOFA Token Generation Event (TGE), Total Value Locked (TVL), and RCH price are interconnected, as outlined in their documentation. The core driver remains increased usage and earned fees, which will naturally support the token design, including pre-launch marketing for $SOFA.
Beyond upcoming partnerships in the next quarter, the team is quietly working on two significant, longer-term initiatives:
- CeDeFi Solution: Utilizing a CeDeFi approach with advanced off-chain volatility strategies to enhance product attractiveness while maintaining on-chain security principles. They are working through custodian hurdles but have soft commitments from interested deposit holders.
- Groundbreaking Institutional Partnership: A very ambitious partnership with a mainstream, reputable institution to use SOFA.org’s settlement infrastructure for their upcoming crypto workflow. Due to strict NDAs and ongoing developments, further details cannot be shared at this time, but this represents a significant step towards their vision.
- The team emphasized their commitment to an unconventional but potentially more impactful approach and thanked the community for their patience on this long-term journey.
Addressing APY Concerns
The current yield on SOFA.org products compared to stablecoin yields elsewhere was also discussed.
- Q: Why are current APYs lower than some stablecoin yields, and how will this be improved?
- A: SOFA.org is actively exploring ways to boost yields, including the CeDeFi strategies mentioned earlier, while carefully managing the custodian challenges to uphold their on-chain security principles. They stressed that the token price is linked to the positive feedback loop between RCH, TVL, and the $SOFA TGE process. Their primary focus remains on validating and promoting the core use cases to drive activity, which will ultimately address the yield and token price challenges.
Wrapping Up
The Telegram AMA provided valuable insights into the SOFA.org project, highlighting the team’s dedication to building a robust, long-term platform for accessible DeFi structured products. The focus remains on product development, strategic partnerships, and driving platform usage to create a sustainable ecosystem. We are looking forward to organizing more AMAs with the team in the future to keep the communication flowing!
Thank you to everyone who participated and asked insightful questions, and a big thank you to all our supporters and the community in general for your continued engagement!