With the launch of its upcoming ICO, Soma, an Ethereum blockchain based C2C marketplace, aims to introduce first ever patient-pending Interactive Item Card (IIC) and an exclusive reward system. Soma connects trading communities via social interaction promotion. The Pre-ICO sale of Soma tokens just ended on August 10, 2017, while the Soma Community Token crowdsale is expected to start by the end of August.
What is patient-pending Interactive Item Card (IIC)?
Soma uses smart contracts to let its users develop IIC, a patent-pending feature, which enables creators to get the benefits of social contribution of interesting digital content, leading to a higher social value of the associated physical item, in return. These cards can be viewed as a digital representation of the physical items, letting storage of corresponding items to the blockchain. The data saved includes information regarding goods’ history, their quality, and price, etc.
The Incentive System
Being a decentralized platform, Soma intends to launch an exclusive incentive structure for higher user engagement. This feature leads to platform’s organic expansion. The Soma Rewarding System recognizes active participants as value-adding elements for promoting item cards for the target audience and acting as an escrow agent to secure all transactions.
The Soma ecosystem
Any user can create an IIC, which can be transferred along with transaction and related actual physical item within the community. The social value accumulated on item card keep rising, thereby, indicating a proportional increase in physical item’s value. This value is rewarded to the item card’s owner since Soma Community Token monetizes the social wealth within the community.
Soma Rewarding System, a central mechanism for a decentralized marketplace, incentivizes community members to carry out services that uphold an efficient and smooth functioning of Soma community, thereby, leading to platform’s growth. The community members can earn SCT by promoting IICs created by others, as a reward for such promotion. Users acting as a trusted third-party between seller and buyer can also get SCT. The Ethereum blockchain ensures transparency and centralized governance.
The Soma Community Token crowdsale is expected to start by the end of August 2017, in which 54 million out of 60 million SCTs will be distributed to participants. The remaining 10% will be reserved for advisors, founding team, and active community members. Tokens can be bought either by Bitcoin or Etheruem, while early investors will get a bonus of 25% for first 2 days, 20% for rest of the week, and 15%, 10% and 5% for 2nd, 3rd and 4th week, respectively. Participants will receive their SCTs in their ERC20 supported wallets.
To know more about Soma and its upcoming ICO, please visit http://soma.co/presale/