SOMA - BlockchainBased Social Marketplace for Create Social Wealth within The Community

What is SOMA ?

Soma stands for the Social market. Soma is a blockchainbased social marketplace that supports the Soma community by implementing a rewarding system that utilizes Soma Community Token (SCT), which is a cryptocurrency designed to incentivize community members to perform actions that create social wealth within the community. Soma enables its users to interact socially with various features implemented on the platform and users get rewarded for doing so. Soma includes generally known concepts from traditional social media platforms (i.e. liking and sharing) and utilizes the blockchain technology to incentivize its users to leverage social capital.

Soma is a marketplace where users can securely and reliably trade with each other in a decentralized environment. The platform encourages users to engage in beneficial cooperation to provide members of the Soma Community a comfort of secure and fast platform to trade with their desired items. The Soma Rewarding System guarantees that every user who contributes to the creation of the social value is rewarded by Soma Community Token (SCT). SCT is an ERC20 token which is utilized inside the community for rewarding and hence it facilitates the organic growth of the Soma community throughout the world.

Vision SOMA

The fundamental purpose of Soma is to bring the social aspect of trading back into the digital marketplace. Soma implements all the widely recognized social media concepts in its platform, such as liking, following, and sharing. Users are encouraged to engage in these actions by getting a reward in Soma Community Tokens (SCT) as a compensation for the user’s contribution to the social capital of the community. Thus, Soma provides an environment that guarantees a fair distribution of wealth for the members of the community.

SOMA Community Token

Soma Community Tokens are used to lubricate the trade inside the platform and facilitate Soma’sexpansion around the globe. SCT functions as a digital currency in a rewarding mechanism to compensate users who add value to the community by performing crucial functions, such as sharing or promoting an item for other users and acting as an escrow agent.

SCT ensures that the expansion of the Soma Community is designed to be rapid and constant. The SCT facilitates cooperative behavior between the users in the community, which is important part of the organic expansion.

Strategic Token SCT

Soma’s own crypto currency is the next step in Soma’s strategy towards more efficient trading inside the community. The SCT will function in the heart of the rewarding mechanism that is the core expansion driver of the community.

The Soma Community Token is a part of the innovation that has been already developed. SCT supplements the already existing framework and creates a value nominator for the community. SCT is created for the need and it has a market.

With help of an SCT, the Soma community establishes a genuinely free market for items and can track the real price chains in the everyday trade. Prices determined in the transactions are most accurate market prices. Soma platform is the beginning of a new era of unrestricted trading with no futile intermediaries in the value chain.

ICO

Soma Community Tokens will have a maximum of 60,000,000 units. Total supply of 60,000,000 SCT is created for the ICO, out of which 54,000,000 are distributed for the contributors in the ICO.

The last 6,000,000 SCT units will be used for growth, such as marketing, rewarding active community members, and incentivize the founding team. Funds are managed by Soma.

As for the ICO round — the funds will be utilized as follows:

35% Marketing and area launches
20% Product development and technology
20% Legal issues and patents
15% Operational team
10% Community reward

(We’ll reward the ambassadors and marketers of the community)

The maximum ICO cap is 120,000 ETH. In the ICO campaign of every 1,500 ETH, we are expanding our marketplace to a new region or state. The goal is to grow in favor of the early adopter. See the next section for more information.

ROADMAP