Monday, 16 October 2017

SOMA - Make Marketplace And Social Network In One Platform

ICO SOMA - Make Marketplace And Social Network In One Platform

I am very excited to review this project, the trading market has grown rapidly and social media has now been widely used by most people around the world. Not a few who use social media as a means of interaction among other as well as use it as a means of trading, as often happen in facebook group or instagram. But in the case of this trade have problems in the security of transaction, such as price game, not transparent, and fraud. Now come Soma, a revolutionary decentralized platform that implement a reward system and facilitate trade within Soma social networking with collaboration among its user through a useful and profitable system.

Basically Soma is created to make the trading market and social networking in one platform and decentralized that everyone can use easier. Soma allow its user to engange in contributing to a platform that can benefit other member and the community as a whole by rewarding its contribution. The Soma platform will launch Soma Community Token (SCT). SCT is a cryptocurrency coin made using smart contract and blockchain Etherum technology or commonly called Token ERC20. Later Token SCT will be used as major payment on Soma platform. To obtain SCT Token you only need to contribute on Soma platform by following, liking, or sharing content relevant to other member and community. SCT Token will be available on all exchange market to be traded with others around the world.


ICO SOMA - Make Marketplace And Social Network In One Platform

Any transaction that occurs within the Soma platform will not only change the ownership of physical item but also the ownership of the Interactive Item Card (IIC). IIC is a digital representation of physical item. IIC include information on ownership data, physical goods condition, item authenticity and price history. Most importantly, the IIC will collect social value within the Soma community through different social interaction from user, which will reflect the physical items. Soma utilizes the Ethereum blockchain technology and smart contract system in verifying the card item to protect the item can not be duplicated and the information can be safely moved.

Soma utilizes the Ethereum blockchain to create a comprehensive trading platform that leverage social capital and creates a community that aids social interaction between users. In the Soma, the contribution to the social capital in terms of value creation is materialized through User Rewarding System (URS). URS is based on Soma Community Token (SCT), which is an ERC20 Token that is allocated inside the platform in relation to a user’s contribution individually, thus making Soma a ”perfect meritocracy” – a model which excludes the need for third parties and provides the most efficient distribution of wealth.

Transaction on the Soma platform are done securely. Soma Rewarding System can improve transaction security by providing incentive fees for members who contribute as trusted escrow agent in a transaction. The escrow agent will be awarded a SCT Token compensation fund after a successful transaction. Peer-to-Peer Marketing (P2P) enable user to obtain SCT Token by promoting item listed for sale on the platform, facilitating the expansion of the community organically and making Token SCT popular.

In Soma platform, trading can be done in a fun way by utilizing the known concept of the social media platform in general. Member and community can interact with each other socially by liking, following or sharing relevant content. Social interaction will increase the social capital of digital content, which can be monetized by SCT Token.


If you want to sell an item like a guitar or other, you just need to find a member or community that has a lot of follower who like or are related to music. Later item you have will be promoted by these member in this way will simplify and speed up your item sold because the item you sell are promoted to the right people or who love music. Later member who promote your item will receive a SCT Token as reward for contributing to the platform. The initial sale of SCT Token will be done using the fundraising method (ICO) with detail below.


ICO SOMA - Make Marketplace And Social Network In One Platform
ICO SOMA - Make Marketplace And Social Network In One Platform


ICO SOMA - Make Marketplace And Social Network In One Platform


Start time: September 26, 2017
End time: October 26, 2017
Token available: 54,000,000 SCT
Token price: 1 ETH = 450 SCT
Hard cap: 120,000 ETH


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