$SOFA Governance token

The $SOFA token is the governance token of the SOFA.org ecosystem. As a decentralized, non-profit, open-source technology organization, all decisions within the SOFA.org ecosystem are determined by votes from $SOFA token holders.

Uses of the $SOFA Token

As a pure governance token, $SOFA does not participate in any profit sharing within the ecosystem. Instead, it focuses on maintaining a healthy, long-term development of the SOFA.org ecosystem via governance voting decisions.

Subject Matters Pertaining to Governance Votes:

1. Types of financial products to be onboarded
2. Determination of the eligible basket of supported collateral (USDT etc.)
3. Admission of new partner protocols into the SOFA.org ecosystem
4. Distribution mix % of daily $RCH airdrops between the various on-boarded products
5. Distribution mix % of daily $RCH airdrops amongst ecosystem protocols
6. Pace of $RCH airdrops
7. And other decisions to come as the ecosystem matures

Acquiring $SOFA Tokens

1. Early Association Members and Developers: SOFA.org is well-attended and supported by some of the most influential Web3 institutions and builders, who will be providing the initial as well as on-going infrastructure support of the ecosystem
2. Ecosystem Advisors: Web3 industry and thought leaders who are sharing their wisdom for the continued betterment of the project
3. Active Community Members: Users and members who are actively participating in our public community activities during the initial stages of the project.
4. Early Position Token Recognition: For both CeFi and DeFi partners who are able to early-adopt and recognize our Position Tokens as eligible collateral on their platforms.
5. Early AMM Liquidity Contributors: Project supporters who graciously contributed non-withdrawable ETH liquidity to the initial Uniswap LP for the $RCH pool.
6. Exchange from $RCH: All users can obtain $SOFA by burning $RCH on a 1:1 conversion basis, thereby exchanging their utility rights for governance votes.