To our friends and supporters:
So much for a quiet summer! Just as things were looking like they were going to coast into Q4, macro markets were punctured with a historic move in early August which sent tidal waves across all asset classes. While prices have recovered somewhat, it doesn’t appear that we are fully out of the woods yet, and hope that our fellow DeFi users have managed to weather the storm thus far.
Despite the unprecedented turbulence, the SOFA team remains hard at work without skipping a beat. As we near our 3-month anniversary post-launch, we wanted to take the opportunity to review our milestones, and a preview of what to look forward to in the months ahead.
Milestone as of Early September:
- Accumulated $RCH burns surpassed 422k
- Accumulated rUSD at 264M, rRCH at 7.1M
- We launched our $RCH earn protocol to popular demand, which have generated more than $6M in trading volume in the past 4 days alone
- We hosted our first AMA on Binance Live with Galaxy and Ultiverse
- We have increased our PR coverage with various crypto media outlets on market updates
Looking ahead, we are looking to finish the year strong, with new product launches, new protocol functionality, new community initiatives, and our opt-requested points program to enhance our user engagement.
Upcoming Plan Over the Next 2 Months:
- Release of a new ‘Dual Currency’ product type to give users another new return dimension
- Deployment into another top EVM L2 chain by October to expand out footprint
- Introduction of an ‘Auto Roll’ function as a significant QoL improvement to help with yield compounding
- New ‘Ambassador Program’ to recognize and reward notable contributions from our community
- SOFA points and loyalty program, with details to be announced
- Expansion our popular leverage functionality into $RCH
- product types
- New RCH game center
- Integration announcements & campaigns launches with top industry partners, to be announced in early October
As usual, the SOFA team remains hard at work and committed to our longer-term vision regardless of the macro backdrop. The team is both proud and pleased with our achievements over our inaugural quarter, and are confident that the next few months will bring us to greater heights with our established foundation.
— SOFA.org Team