The Launch of SOAR
First of all, we are very pleased to see this project growing fast and successful. As most of you already know, we chose to launch without a presale or pre-marketing. We felt that a presale would not fit our purposes, and we wanted to prove that we can launch differently.
Why did we choose to launch without any fundraising or pre-marketing?
A formal launch and fundraising has three primary purposes:
- Raise money to develop the product
- Provide large liquidity for investors
We cover all of the above differently, using the airdrop-mechanism that is performing very well and the upcoming Liquidity Migrator which is our main product.
How do we cover those aspects?
- There is no need for hundreds or thousands of ETH to develop the product because we already have the developers and the experience.
- We wanted to build the liquidity organically from the ground up. The whole point of our main product (Liquidity Migrator) is to absorb residual liquidity from projects, and even without the Migrator, the liquidity has increased over 500% since launch.
- We stealth airdropped 20% of the SOAR token to 400+ wallets, which have lost their funds by investing in projects and teams with faulty intentions; this helped us effectively market SOAR while also providing relief to some. We reached over 900 telegram members and 400 Twitter followers without pre-marketing, just from people searching for information about the SOAR in their wallets.
What we achieved so far?
Out on the open:
- We have been successfully audited by Hacken, one of the most prestigious cybersecurity companies in the crypto sphere.
- We have been listed on all major crypto websites: Coingecko, Coinmarketcap, Blockfolio, DeltaApp, Livecoinwatch.com, and more.
- We locked 75% of the development and marketing tokens for a period of 3 months. Current value — $240,977.66
- A Live Roadmap was created for community members to be updated as we progress with the development.
In the background:
- Finishing the first version of the Network Dashboard.
- Approaching different top tier companies for collaborating and improving the Liquidity Migrator concept.
- Agreed with Hacken to audit the security of all our future products.
- Added one new developer to the team.
- Developing the concept of LP lending.
- Releasing the SOAR GitHub, which will be populated with all project info very soon.
What is next for SOAR?
The next step for SOAR is to release the Network Observer (Dashboard), which will allow us to begin the Volume Harvester competition. The Volume Harvester is a perpetual (weekly) contest with ETH prizes for the top volume traders of SOAR. Everything will be public and transparent, with specific requirements, rules, and a leaderboard. Everybody will be able to participate.
This has multiple benefits on SOAR token and its community.
- Draw the attention of active traders and other crypto space members looking to earn ETH without risks involved.
- Increase the volume and the rewards SOAR community receives through the frictionless reward mechanism.
- SOAR price will not be affected negatively as top traders will be remunerated in ETH.
Next week the public marketing campaign will begin. As much as we want to stay organic, we also know that it is tough to increase the community size and project exposure without marketing. We will start by using sponsored banners across multiple crypto-related websites such as Coingecko and Coinmarketcap to promote SOAR and our future products.
We hope this does not upset the community members that don’t like sponsored promotions, but they have to understand that we are developing a product that needs a strong user base even from the beginning.
This concludes today’s article, and we hope it puts light on what’s on the horizon for SOAR. We are so early it’s barely the inception, and we are very excited to bring new products in the DeFi space.