Growing SOY Finance
Growing your capital in a safer DeFi environment.
Article published on Medium on 7th October 2021.
SOY Finance aims to bridge the gap between the Callisto Network and the DeFi ecosystem by launching a set of products based on smart contracts, such as a decentralized swap and a yield farming mechanism.
As the first step of this initiative, we have released SOYSwap, a swap protocol allowing to exchange of ERC 20 tokens on Callisto Network.
To further extend the reach of SOY Finance we have developed Callisto Bridge, which will offer more interconnection with existing blockchains such as Binance Smart Chain, Ethereum, and Ethereum Classic.
Note: Security being an essential requirement for SOY Finance, our platform’s smart contracts have been audited by Callisto Security Department.
Introducing Soy Swap
At a time of increasingly restrictive Anti-Money Laundering (AML) rules and KYC verifications are becoming more and more restrictive, exchanges are required to comply. Recently Binance, the world’s largest exchange, announced mandatory KYC for all new users.
Decentralized exchanges ( DEX ) are becoming more and more prominent, and during 2020, they experienced rapid growth in usage, an 1800% increase of Total Value Locked or ‘TVL’ . In October of the same year, Uniswap, overtook the largest centralized exchange at the time, Coinbase, in terms of monthly volume.
SOYSwap is a decentralized exchange enabling quick, safe, and cheap token exchange between users. All transactions are executed from smart contracts without the need for a trusted third party, resulting in many benefits including reduced fees.
SOYSwap adopts the concept of decentralized liquidity pools that reward users for providing liquidity. Liquidity providers earn “Liquidity Providers Tokens” as an incentive to provide liquidity to different liquidity pools.
In a second step, SOYFarm will allow the liquidity providers tokens owners to stake their LP tokens and receive SOY tokens ( the official SOY.Finance token ) as a reward.
Where is the Orderbook?
SOYSwap’s architecture abandons the concept of an order book. Instead, users provide their funds to ensure liquidity, and the algorithm does the rest; By pooling every user's liquidity, SOYSwap creates markets according to a deterministic algorithm. This algorithm, called Automated Market Maker (AMM), provides prices to the end-user based on a set of predefined rules.
A special feature of the AMM model is its ability to always provide liquidity, regardless of the size of the order or the liquidity pool. The algorithm will increase the price of the tokens as the desired quantity increases. Thus, the system never runs out of liquidity.
SOY Token Airdrop
Phase 1 - Sowing Soy - PancakeSwap Active Users Airdrop
500 000 $SOY tokens - 15/10/21 to 30/10/21.
Phase 2 - Sowing Soy (2) - Details to be published on 25/10/21.
Phase 3 - Sowing Soy (3) - Details to be published on 10/11/21.
Phase 4 - Sowing Soy (4) - Details to be published on 25/11/21.
Phase 5 - Storing Soy - Details to be published on 10/12/21.
Phase 6 - Deep Freezing SOY — Details to be published on 25/12/21.
Phase 7 - Harvesting Soy — Details to be published on 10/01/22.
Roadmap
1st October 2021 - Official Launch
15 October 2021 - ERC 223 Support
15 October 2021 - Farming Launch
15 October 2021 - 1st Airdrop Phase.
1st November 2021 - IDO Launch.
Q4 2021 - ETC Bridge.
Q1 2022 - Multi-Chains Deployment
Q2 2022 - Cross-chain Liquidity
Q2 2022 - CryptoBot Integration.
Q3-Q4 2022 - Governance (First phase).
Q1-Q2 2023 - Governance (Final phase).
Supported Assets
For the SOYSwap launch the following assets have been listed, more will be added over time.
CLO
ccBNB ( Wrapped BNB) 0xCC78D0A86B0c0a3b32DEBd773Ec815130F9527CF
ccETH ( Wrapped ETH ) 0xcC00860947035a26Ffe24EcB1301ffAd3a89f910
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