Let's see what SODA DEFI is?
Today I'm informing you about a new project that I just found. This is a project called SODA DEFI. They are a team of developers who have created an independent system that functions autonomously on a smart contract. There is an audit, and full transparency.
Let's see what SODA DEFI is.
A new kind of decentralized financial platform
The project I came across today is SODADeFi. Also a BNB project and with its own token. This project is not entirely new, but it was already launched on 26-03-2021. Before I get to the project itself, I want to talk about the price of the SODA token.
SODA is a token that gives you the right to own 1% of SODA DEFI’s profit.
SODA is a decentralized open-source crypto ecosystem. This ecosystem includes SODA DEFI, SODA PLATFORM, and SODA POOL.
I think this makes it interested to buy these tokens. This is only possible by depositing BNB and by earning SODA. These SODA tokens can then also be staked and then you earn even more SODA tokens. You always have the possibility to withdraw your SODA and convert it to BNB.
So let’s dive into the project!
Features
The project has a couple of features:
- Pool: staking BNB and earning SODA
- Pool: staking SODA and earning SODA
- Referral program
- Exchange
- Lottery
So lets see how the staking pools work!
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Here’s a video tutorial on how to connect your metamask wallet, add new blockchain network such as Binance Smart Chain, GoChain etc.
Parameters to ADD Binance Chain Network
Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
ChainID: 56
Symbol: BNB B
lock Explorer URL: https://bscscan.com
How to #connect #Metamask to #BinanceSmartChain in 60 seconds in on your computer in the browser
Pools
- Click on the “Pools” menu and you see 2 possible pools
- BNB-SODA is the pool in which you deposit BNB and earn SODA tokens
- You can stake the earned SODA tokens and earn more SODA tokens
- Select the pool you want to use and enter the amount of BNB (or SODA in case you go for the SODA-SODA pool). I deposited 1.62 BNB today.
- Click on STAKE BNB (or STAKE SODA when you entered SODA) and approve the transaction.
Now you will start earning SODA tokens.
When I have enough SODA tokens and I want to exchange the tokens against BNB, I can select the EXCHANGE menu.
Exchange
With this feature you can exchange your earned SODA tokens for BNB.
ust fill in the amount of SODA tokens you want to exchange. In this case you will receive 0.0103 BNB for each SODA token.
Note that this SODA price will rise, as already described in the article. Each day the price of the SODA token is increased by 0.2%. Because of the stability of the price, I can imagine that it’s worthwhile to HODL the token. That’s at least what I am trying todo the couple of weeks.
To get more people into the program these projects always have a referral program.
Referral program
To attract more people to invest in such projects, the project has a referral program. With this program you invite friends to participate and you get rewards for it.
Choose the Referral Menu and copy the link. Then distribute this link through your social channels, like Facebook, Twitter, Reddit, you name it.
Btw my referral link is: https://sodadefi.app/?ref=7790
So feel free to use it when you plan to enter this project
As you can see this referral program has 20 levels!
Note: Most of the projects have only 5 levels
When you click on more details, you will see the percentage rewards you receive. When a first level friend deposits 1 BNB you will get 0.15 BNB into your wallet!
In case you have earned some rewards from your referrals, you can click CLAIM REWARDS to actually get your rewards in your wallet.
They also have a lottery!
Lottery
As you can see, a lottery takes place each 12 hrs. Everyone that enters a pool has a change of winning the pot! And if you win you can CLAIM it and withdraw it. As always with lotteries I will not be one of those lucky guys I think. But we will see. It is a nice bonus but not the main reason I stepped into this project.
Conclusion
The most attractive part of this project is the stability of the SODA coin price. At least it will not decrease in value, it will only increase in value. This makes it interesting.
https://sodadefi.app/?ref=7790
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