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What is SOMA?

Among the many ICO’s that these days are active there are projects of all kinds that assure us that blockchain technology is undoubtedly revolutionizing every space of our daily lives. This time we will talk about the Soma project. Soma is a revolutionary decentralized platform that facilitates commerce within the community of the same name through a system of gratuities or prizes that encourages collaboration among members of the comunity.

Soma encourages users to participate in actions that will benefit other members and the wider community by rewarding such actions with tokens Soma Community (SCT), a cryptocurrency designed to encourage members of this decentralized community to perform value services and act as a form of quick, safe and cost-effective compensation.

The Soma platform is characterized by the following details: Each transaction that occurs within the SOMA platform will not only change the ownership of the physical element but also the corresponding property of the Interactive Item Card. This card includes information about ownership data, the condition of the physical item, the authenticity of the item and the price history. Most importantly, this card will accumulate social value within the Soma community through different user interactions, which can be reflected in the value of the physical element.

The Soma Rewards System is a platform-specific system that improves transaction security by providing an incentive for a member of the community to act as a custodian of trust in a transaction. The escrow agent is rewarded after a successful transaction with the tokens.

Within the Soma community members can interact socially with each other by willing, following or sharing relevant content. Social interactions will increase the social capital of digital content, which can be monetized with the token of the Soma community.

The decentralized platform encourages community members to help other members in a variety of ways. P2P marketing allows users to get tokens from the Soma community by promoting the items that are listed for sale on the platform, which facilitates the organic community expansion and popularity of the Soma community token.

soma ico

The ICO.-

The Soma platform launched its ICO on September 26, and will be in force until October 26. The ONLY way to buy Soma SCT tokens is through the official website at https://soma.co/  To acquire tokens in this ICO you have to follow these 5 steps:

  1. The first step is to register an account in Coinbase.
  2. Setting up the wallet off line. This is necessary because it is impossible to buy SCT chips in an exchange. There are many options for offline purses: our recommendation is MyEtherWallet. Never send funds directly from the Soma Token SCT from your exchange purse, as they will be lost on the transfer.
  3. Buying ETH. Once you have set up both wallets and Coinbase has verified your account (approximately 48 hours), you can buy your own ETH. Go to the Coinbase website, log in and select “Buy / Sell”, this will take you to the page where you can buy ETH that can be changed by the Soma SCT token.
  4. Transfer funds from wallet online to wallet off line. The process of transferring your funds from shared coin account to your offline wallet is simple. Copy the receipt address of your wallet off line. Then go to Coinbase and click send funds.
  5. Buy Soma SCT tokens. Now that you have transferred your ETH to your wallet offline, you are ready to purchase the Soma SCT tokens. Go to the Soma website at https://soma.co and click on “Token Sale”. You will be directed to the tokens sale page where you can select the amount of ETH you want to use to buy Soma SCT tokens. Once you have selected the quantity you want to buy, select the green button that says “Contribute.”

The reference value is 1 ETH = 450 SCT. To see more about this project, see its White paper.

By Crypto-Economy team


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