Autumn — The Launch, Success, and Accomplishments
What does it take to launch a revolutionary DeFi platform? Is it advanced technologies, a strict commitment to security, or the support of a passionate community?
Two years ago, SOY Finance was launched as an answer to these questions, marking the start of an extraordinary journey into decentralized finance. With a clear objective backed by the expertise of the Callisto Security team, SOY Finance is committed to becoming the safest platform in the DeFi landscape.
As SOY Finance prepares for significant transformations, it’s worth recalling the first steps of SOY Finance — a vision of a safe and decentralized platform with the introduction of several pioneering features:
- Safelisting of Audited Tokens: ensuring only secure and verified assets are part of the SOY ecosystem. (Completed ✅).
- Implementing the First ERC 223 DeFi Platform: Leveraging the most advanced token standard for enhanced security and functionality. (Completed ✅).
- Developing an Advanced Cross-chain Bridge: Facilitating secure and smooth transactions across multiple blockchains. (Completed ✅).
- Revamping the User Interface: Prioritizing intuitivity and usability, making DeFi accessible to a broader audience. (80% completed ✳️).
- Establishing a Distributed Insurance: Guaranteeing users’ losses in the event of hacks or software errors. (20% completed ✳️)
- Multi-chain Deployment Strategy: This strategy, which had been implemented, was abandoned after assessing its impact and aligning with our strategic focus. (Discontinued ❎).
This series of 4 articles, each covering a specific aspect of SOY Finance’s life, describes its evolution and highlights the benefits of the platform for the community and the enhanced features of the new SLOTH token.
- Autumn — The Launch and Success, Pre-Bear Market.
- Winter — The Crypto Bear Market.
- Spring — Pre-Bull Relaunch.
- Summer — Bull Run and Future Plans
The commitment to innovation, security, and community empowerment are the same, but this time, the context is different, much different…and even more promising.
The Autumn
Launched two years ago by a team of blockchain security experts, SOY Finance successfully raised over $770,000 strong of a 55,000 members community. SOY Finance achieved a Total Locked Value (TVL) of $10 million in a few weeks, making it the top 85 DeFi platform. After two years of operation, SOY Finance has facilitated more than 1,7 million transactions, amounting to an impressive $46 million.
We managed to attract users from established platforms like PancakeSwap, Uniswap, SushiSwap, and 1inch. Our marketing strategies, particularly the collaboration with Absolute Wallet, played a crucial role in this success. We leveraged Absolute Wallet’s extensive user base through targeted marketing events to enhance SOY Finance’s visibility and reach.
Developing the most secure and advanced Cross-chain bridge with a unique UI and UX has significantly contributed to this success.
“When you launch a platform called SOY Finance, SOY standing for “Safety On Yields,” you take a strong stand. We wanted to make the DeFi space safer, and after two years and over 10 million transactions, seeing our vision of a secure, decentralized platform become a reality has been the most rewarding part of our journey.” — Sloth Decentralizer Officer (SDO).
Technical Innovations
From a technological perspective, SOY Finance has implemented a series of innovations, making it the most secure DeFi platform:
- Safelisting for Audited tokens: The safelisted tokens are insured by the SOY decentralized insurance fund, guaranteeing users’ losses in case of a hack or software error.
- The 1st ERC 223 platform: SOY Finance is the first platform to support and leverage the advantages of the ERC 223 token standard.
- Advanced Passive Income with Cold Staking: SOY Finance has designed its own version of Cold Staking, creating a safer and smarter way to earn passive income, adjusted to the needs of the DeFi community.
- Next-Gen UI: Designed to emphasize intuitive interaction and user-friendly experience, SOY Finance makes your DeFi experience safer and more comfortable.
- SOY X-Chain Bridge: Allows for advanced cross-chain transactions with the highest level of security and decentralization. Its innovative UI makes it the most user-friendly bridge in the space.
Hum… Blockchain Security Experts?
Who exactly are the “blockchain security experts” behind SOY Finance?
The Sloth Innovation Officer (SIO) sheds light: “We’re pioneers in security, having contributed directly to securing hundreds of projects in the crypto space since 2018, many of them among the top 100. Our expertise is the backbone of SOY Finance’s robust security system”.
SOY Finance experts have conducted over 330 smart contract audits across platforms like Ethereum, Ethereum Classic, and EOS. In addition to these audits, the SOY Finance experts have contributed to developing and enhancing the ERC 223 token and CallistoNFT standards, improving existing standards that address flaws and offer new capabilities, further establishing us as industry leaders in crypto-security.
Autumn brought us the birth and rise of SOY Finance, but every season has its story.
Join us in our next article, ‘Winter — The Crypto Bear Market.’ The winter may have been cold, but the SLOTH community’s spirit burned brighter than ever!
