Innovative Lending Solution Soda Protocol Mainnet is Now Live On Solana

Innovative Lending Solution Soda Protocol Mainnet is Now Live On Solana

• Soda Protocol announced the release of its mainnet.
• Soda Protocol released its mainnet on the Solana blockchain. .

Soda Protocol — a smart lending protocol with a credit system released its mainnet on the Solana blockchain.

Innovative lending solution Soda Protocol announced its move towards integrating lending with a “credit rating” system on the Solana blockchain. This comes after the community’s Alpha DevNet test conducted over 6 weeks.

According to a press release, Soda Protocol is embarking upon a liquidity provision campaign — Soda Sparkling, which will enable users to deposit funds into the platform’s lending pools in return for liquidity provider rewards.

In addition, Soda Protocol also announced a retroactive airdrop plan that depends on the supply and borrow amount for community members.

Soda Protocol Co-Founder, Per Colin Iliad also issued a statement following the mainnet release. Colin Iliad notes,

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).

For instance, Soda Protocol is built by blockchain and DeFi industry veterans. The platform aims to create value for the Solana network. Note to mention that Soda Protocol follows three core areas, including lending, on-chain credit system, and composability modules.

Expanding further, Soda Protocol has also teamed up with strategic platforms Francium and Slope Finance, which offer the first cross-platform wallet on the Solana chain.

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