Soda Protocol’s innovative lending solution is now online on the mainnet. Following the community’s successful Alpha DevNet test conducted over six weeks, Soda Protocol’s capital-efficient lending platform is taking its first steps towards integrating lending with a “credit rating” system on the blockchain network.

As part of the mainnet launch, Soda Protocol is embarking upon a liquidity provision campaign, Soda Sparkling, which will allow users to deposit funds into the platform’s lending pools in return for liquidity provider rewards. Soda Protocol has also announced a retroactive plan to honor the launch. It will be based on borrow amount and time-weighted supply.

Per Colin Iliad, a Soda Protocol Co-Founder,

“Soda Protocol is our attempt to improve capital efficiency for the entire DeFi ecosystem. We will start from a basic lending protocol and introduce a special mechanism including a credit system to provide a liquidity pool and leverage tool for other protocols in the ecosystem, to make the liquidity on-chain have a better “flow” (be used better).”
Built by blockchain and DeFi industry veterans, Soda Protocol aims to create value for the entire Solana ecosystem while breaking DeFi’s boundaries with high scalability. This platform serves three key areas including on-chain credit, lending and composability. Soda Protocol already has strategic alliances with Francium, a strategy platform, and Slope Finance which offers the Solana’s first cross-platform wallet.

Soda Protocol team have developed a long term plan that will allow DeFi to grow and Web3 to become stronger. The platform is launching staking pools in line with its ongoing development. This will allow users to place SODA tokens, and earn additional rewards.

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