[ANN][ICO] SOMA - The Social Marketplace

[FIEX]

Devs made official announce about burning tokens? May be they will burn them. Just wait announce 

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

[1714697735]

1714697735

[1714697735]

1714697735

[1714697735]

1714697735

[1714697735]

1714697735

[1714697735]

1714697735

[sockpuppet1911]

Devs made official announce about burning tokens? May be they will burn them. Just wait announce 

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

Thanks, we can rest easy now. I am bringing cotton candy to the bonfire of the burning coins. Hopefully this tactic will attract some new investors for them.

[Rigorous]

Wow, finally an answer. Why was this crucial information not in the whitepaper and the ICO paper?

[niklasmato]

Devs made official announce about burning tokens? May be they will burn them. Just wait announce 

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

Thanks for checking this out. It's an important question in my opinion.

[Elkmar]

I went again through the whitepaper, what i think will differentiate this project from the online marketplace we are used to is the rewarding system they are going to implement. This will basically create a market into the market where users get rewarded by promoting and adding value to products being on sale.

People can get rewarded with USR tokens and make some profit out of it.

At the moment the closest thing to this in market like ebay and amazon is the review of the product, some are very good but none of these get any reward. Think about it

Yeah, this could strengthen the community. While bigger companies don't need to reward users, i am wondering why any rising competition haven't thought about implementing this strategy before.

I thin there is some websites offering systems like this, like priceminister.

[Rigorous]

Now we know from the co-founder that the leftover tokens will be burned, did he also mention something about their business model?  

[Sozialtourist]

Devs made official announce about burning tokens? May be they will burn them. Just wait announce  

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

I already knew this answer, it's from the 24th of October, so before they decided to extend the ICO. And I was sure that they'll burn unsold tokens till the discussion here in the forum came up today. I thought this discussion came up because there was some sort of announcement but luckily it seems there is none and they'll stick to the policy of burning unsold tokens.

[matjas]

Now we know from the co-founder that the leftover tokens will be burned, did he also mention something about their business model?  

There are indeed some unanswered questions but i guess they are so focused on ICO that they will deal with other stuff later and make some announcements that will boost the sales.
I knew they would be smart enough to burn the tokens so that is settled.

[martinholly167]

I went again through the whitepaper, what i think will differentiate this project from the online marketplace we are used to is the rewarding system they are going to implement. This will basically create a market into the market where users get rewarded by promoting and adding value to products being on sale.

People can get rewarded with USR tokens and make some profit out of it.

At the moment the closest thing to this in market like ebay and amazon is the review of the product, some are very good but none of these get any reward. Think about it

Yes they get rewarded that's why I'm scared if some groups focusing on rewards pop up, if they will be able to gain a huge amount of SCT they can drive the price up and down as they please

What exactly do you mean with driving the price up and down like they want? You mean the token price?

Yes, I'm talking about well coordinated groups of 100+ people, they shill products and they receive SCT in exchange for doing that. But it's just a fantasy in mind and maybe it will not happen

I think you can do it individually, and if you do it massively you will still get a same amount if you share it.

[imtiazmahmood]

Devs made official announce about burning tokens? May be they will burn them. Just wait announce  

As far as I know, there are no new announcements regarding the burning of unsold tokens. And here we have it again. Communication! The Soma team should try to interact more with the community.

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

I already knew this answer, it's from the 24th of October, so before they decided to extend the ICO. And I was sure that they'll burn unsold tokens till the discussion here in the forum came up today. I thought this discussion came up because there was some sort of announcement but luckily it seems there is none and they'll stick to the policy of burning unsold tokens.

soma project is promising project. but i want to know when will soma ICO end? any official date or month?

[jonnytracker]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

[Voltaje]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

[magisterr]

Soma sounds like a girl name . A  cute office assistant logo would match the name  

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

No,  Soma - is a sci-fi horror game from Frictional Games. (for PC and PS4). So sooner, I think devs take name from this game.
May be this is someone related with Finnish name also, such as dev are from Finland (Such "soma" translated from Finnish as "cute")

[Yasemin]

After ICO you can buy remaining SOMA tokens on their platform. Also interesting: "Soma will provide a "liquidity reserve" of SCT, which will only be utilized in a theoretical situation, for instance, if after the ICO the SCT is not liquid enough to support the functioning of the Soma platform." From whitepaper.

They wont burn it? Dont like that idea, i hope it doesnt backfire back on them. I dont see the reason of doing that since their ICO is going quite good.

Im sorry for the confusion, I read this in the technical whitepaper, page 5:

''Soma Community Tokens can be acquired (in
exchange for Ether) during the ICO. After the
completion of the ICO, purchasing SCT for Ether
will be available via the Soma platform. The price
of SCT will be set according to its current price on
the stock exchanges.''

But I read it wrong, I thought the remaining tokens would be sold on the platform, but I read now that the remaining tokens are getting burned.

[cantdecide]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

Could be from an Asian language or just a radom word. I can't imagen an Japanese word, also checked a dictionary and couldn't find something.

Or wait, I just found some internet slang or so in Japanese which says that soma is build out of ソマ　=　それまじ (sore maji) which means as much as "is it real?". But don't know if this is the origin for Soma.

[magisterr]

After ICO you can buy remaining SOMA tokens on their platform. Also interesting: "Soma will provide a "liquidity reserve" of SCT, which will only be utilized in a theoretical situation, for instance, if after the ICO the SCT is not liquid enough to support the functioning of the Soma platform." From whitepaper.

They wont burn it? Dont like that idea, i hope it doesnt backfire back on them. I dont see the reason of doing that since their ICO is going quite good.

Im sorry for the confusion, I read this in the technical whitepaper, page 5:

''Soma Community Tokens can be acquired (in
exchange for Ether) during the ICO. After the
completion of the ICO, purchasing SCT for Ether
will be available via the Soma platform. The price
of SCT will be set according to its current price on
the stock exchanges.''

But I read it wrong, I thought the remaining tokens would be sold on the platform, but I read now that the remaining tokens are getting burned.

May be they have a special fund for this. I see, that they have 60 mln tokens in total, and 54 mln for token sale. So this 6 mln tokens for devs and...?
I cant find allocation of tokens. Can anyone help me find?

[martinholly167]

Soma sounds like a girl name . A  cute office assistant logo would match the name 

Soma, i think its a Japanese name, that I don't know what it means, but definitely is not english or spanish, it is from another language for sure, so in a way it could sound silly for other people, for me though it sounds good, but it doesn't ring the concept of the project, nor the pet animal that represents it, but at last, it doesn't matter.

Could be from an Asian language or just a radom word. I can't imagen an Japanese word, also checked a dictionary and couldn't find something.

Or wait, I just found some internet slang or so in Japanese which says that soma is build out of ソマ　=　それまじ (sore maji) which means as much as "is it real?". But don't know if this is the origin for Soma.

Hey , enough  .
You guys didnt realize it? SOMA >> SOcial MArketplace
But its also a guess 

[viljy]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

[martinholly167]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Hey , there is a clear statement about this on the previous page.
Here :

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

No need to be confused anymore.

[levyashin]

I do not understand what will happen to the unsold tokens? In one place it is written that they will be sold after the ICO on the site, in another place it is written that unsold tokens will be burned. I think that if they are sold on the site, this is a collapse of the project. Unsold tokens must be burned after ICO.

Hey , there is a clear statement about this on the previous page.
Here :

Thats true!
There should be more communication coming from the devs in this thread.

I searched on Telegram and found this:
Mohd:
Just incase the hard cap wasn't reached what will happen to the left tokens?

[16:51:36] Joseph:
@mohdsuwaidi they will be burned


This is coming from:
Joseph al Sharif (Co-Founder)

So let all stop the discussion now

No need to be confused anymore.

That is good news but i don't understand why anybody from Soma team comes here and makes an announcement about it and we are taking the news from their telegrams quote.