Soda — the next generation of DeFi and will take Yield Farming where it has never been before. The project has a unique dual symbolic economic model. The token plays the role of a reward for liquidity providers. SoETH is a fully collateralized collateral currency, the value of which is softly tied to the value of WETH.
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Description of the project
Unlike other projects, Soda is much more than just another farm token. For example, with soda, you can borrow and invest with higher leverage through the unique and amazing SoETH token, completing the DeFi cycle back to Ethereum.
In return, you can borrow something from the protocol and use SoETH to earn even more tokens. As in the traditional financial world, Soda allows you to make money from leveraged assets and, therefore, increase your profits exponentially.
Currently, there are a total of 4 pools and each of them has unique features:
| Pool 1 for WETH | Just make a deposit and earn tokens automatically. When you deposit in this pool, you can borrow something without losing any of your farm sodas and use your investment even more for more effervescent rewards. |
| Pool 2 for USDT-ETH SLP | With this pool, you grow two tokens at once: SUSHI and SODA. This pool uses the SushiSwap project. |
| Pool 3 for SoETH-ETH UNI-V2 LP | This pool provides initial liquidity to SoETH. In theory, the price of SoETH and WETH will be 1: 1, but fluctuations can occur. This pool gets 2x rewards. |
| Pool 4 for SODA-ETH UNI-V2 LP | While you deposit liquidity into SODA, you will receive 5x rewards plus SoETH earnings rewards. |
When you deposit tokens in any pool, your deposit is wrapped and returned as a "vToken", which represents the liquidity you have provided to the pool. When you withdraw your deposit, the vToken will be burned.
Additional information
So far, there are no White Paper and RoadMap on the site. Instead, you can explore the blog on Medium. There are various articles, related to the development of the project and recent updates.
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Smart contract audit is available here.