🟢White Paper

Why a SOF token?

SoF Center & SOFLabs created the SOF token as a Loyalty Reward Program for our clients, partner clients, token and community holders. SoF center will not benefit in a direct way of the token, it is a reward system build for the benefit of the community and local business.

Local Business & retail shops

We appreciated all local small & medium size business, farmers and retail stores. To create an opportunity for them, as they need the most in those times, we build a Partner/Client Portal where they can become a member and start rewarding their clients with the SOF token.

Benefits:

• Creating an opportunity for visibility & crypto adoption in local business and retail stores.

• Reward clients when they buy local.

• Reward business with extra liquidity in the staking platform.

• Use SOF as a currency to pay or exchange for local goods and services.

Clients from SoF Center and Accredited Partners can benefit when they buy products, education programs, services, goods, …

For every €10/$10 a client spent in the eco-network, they receive minimum 1 SOF Token. (10:1). The Business can decided by themselves their reward rate in respect with the minimum.

Accredited Partners who participate in the Loyalty Reward Program can buy the SOF token on the DEX and are also able to participate in the staking program. Buy this, they gain extra liquidity to rewards their clients. The SOF token become a currency.

Partners reward their clients through the Partner/Client Portal in combination with the SOF Dapp.

Partners have to buy 1:1 from a DEX or CEX to fund their Account. Staking rewards are going straight to the reward wallet.

To become an Accredited Partner, there is a KYC and accreditation procedure to follow.

Community Holders can use the SOF token for:

• Staking on the SOF Dapp for staking rewards.

• Earn SOF tokens from Partners within the ecosystem.

• Exchanging on a DEX or CEX for other tokens or fiat currency.

• Using as a currency to pay for goods and services in the ecosystem.

Backed currency by HBAR tokens

Stability & utility goes hand in hand. A fully backed currency is here for the long term. The project team chooses HBAR as our backed value.

It is the aim of the project to be a fully backed currency. For every SOF token in circulation, there is an equal equivalent of HBAR'S in the DRIP Fund or Liquidity Pools on the DEX.

For that reason, we will release the SOF token in badges, what is explained in our Emission Schedule.

There are no airdrops, pre-sales or private sales of the SOF token.

Minted SOF tokens

The SOF token has an infinite supply, and is fully backed with HBAR tokens.

The initial supply is 222.222.222 SOF

TOKEN ID: 0.0.1237128 - TREASURY ID: 0.0.1199798

When the project team wants to mint more tokens it is bounded to the Emission Schedule, Multi-Sig protocol, DRIP Protocol & Minting Protocol.

For security reasons and protection of the project, the team decided to create multiple Treasury Wallets for different purposes, protected with a multi-sig protocol.

Here you can find the Toconomics of the SOF token.

Who can become an Accredited Partner?

Every local business, organization, shop or network that wants to reward their clients for their loyalty. The size and the location of the business doesn’t matter. In the first place, we focus on small and medium sided business. The most important value is that the partner wants to reward their customer.

At any given time, the partner can join or leave the network. There will be a set of rules available to all partners for joining and leaving the network.

The reward system will benefit the partners and their clients. When clients receive value, their loyalty will increase and word of mouth will spread what benefits the local industry.

Note: This page is the Light White Paper. The Full version is our documented Gitbook. When you don't find your answer on Gitbook, please ask your question in our Discord Channel.