Jumped in Soul Protocol ($4M) 🪂
They’re building cross-chain lending
List of activities and overview below 🧵⬇️

➣ What is @0xSoulProtocol?
Soul is a unified omnichain layer connecting cross-chain money markets
They raised $4M in a private round from XVenture Fund, Coinbase etc.
A public round will also start on the 16th, 25% of total supply

➣ List of activities:
They’re currently in the testnet stage
It’s confirmed to be incentivized
- Go to app.soul.io
- Open the "My quests" section
- Start completing them to earn seeds
In addition to the quests, I’m actively using the Supply/Borrow features
Then,

➣ Concept of Soul Protocol
I want to answer the question myself: "What problem does Soul solve?"
The first thing that stands out, is Soul being something totally new
If you were to ask me “what are the competitors”, I’d answer “none”
It’s 0 to 1 innovation, something new

➣ How it works on example?
For example, you deposit USDC
Soul integrates with base protocols and deposits it into Aave, receives the aToken, and manages it on behalf of the user
At the same time, Controller smart contracts connect different networks, providing access to

➣ What is the utility of $SO?
The main focus of the utility is on the governance and buyback mechanism, but there are also a few of other interesting points
List of utilities:
1. Governance
Enables fair decision-making within the ecosystem
2. Buy-back mechanism
Revenue is

➣ Tokenomics:
In general, it looks like this:
- Pre-Seed: 8% of total supply
- Public Sale: 25% of total supply
- Core Contributors: 10% of total supply
- Advisors: 2% of total supply
- Liquidity: 10% of total supply
- Ecosystem Development: 23% of total supply
- Foundation:

➣ Details of public sale:
The public sale is designed to create a community-backed and community-focused project
A significant portion of the token allocation, 25%, goes to the community
That said, their model isn't standard, as the final valuation will be determined at the

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