Soda Protocol Launches Mainnet on Solana Network

A participant of Solana's Ignition Hackathon, Soda, launched their mainnet on the network.

By
Anirudh Tiwari
on
November 13, 2021
Category:
Breaking News

Another Protocol Launch on Solana

The Soda Protocol launched its mainnet on the Solana blockchain network. Solana’s adoption seems to be gaining more traction by the day. 

The announcement came on Nov. 12 via a Twitter post accompanied by a short, flashy video promoting the launch. Soda Protocol is growing on the relationship established by participation in the recently concluded Ignition Hackathon that Solana and its community held.

“We have find a method to maximize the capital efficiency for DeFi ecosystem and a strategy to support our short-term and long-term business. Technically, we have achieved: 1. flash loan, 2. flash liquidation, 3. extendable slot limitation for lending & borrowing, 4. on-chain credit rating system (Sol ID).” 
Source: Soda Protocol Docs

The Soda protocol is attempting to establish a rapidly growing community atmosphere to encourage active participation in the protocol’s development. 

The different roles assigned to the members of the community are listed below:

  • Bug Hunter: Members who have reported a bug with details that are approved by developers.
  • Laser Eyes: Members who have submitted a good suggestion on the protocol’s product design.
  • Bullisher: Active members that love to help others.
  • OG: These members contribute in more ways than one of the above. Preferably, the OG members will be selected from Bug Hunter, Laser Eyes, and Bullishers.

Integration with Solana is the first step for the protocol that is attempting to combine decentralized lending with a feasible credit rating system in the Solana ecosystem.

About Soda Protocol

Soda is a decentralized lending-borrowing protocol that operates on the Solana blockchain network with an on-chain credit rating system based on the historical behaviors of the addressed involved in the borrowing and lending. The rating system is called SOL ID, which acts as a foundation for a credit loan, airdrop options, governance, and optimizing the value of a user’s historical behaviors.

Find more about the Soda Protocol here:

Website | Twitter | Docs | Telegram | Discord

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Anirudh Tiwari

Anirudh is a cryptocurrency analyst and writer who specializes in derivatives, DeFi, regulations and CBDCs. He has a Master’s degree in Finance. Before delving into crypto, he worked with a leading U.S. based investment bank. Apart from work, he is a music connoisseur and likes to play the drums.