[ANN][ICO] SOMA - The Social Marketplace

[stormcleric]

This is still completely confusing. Does anyone have a  reliable answer for me in regards to unsold tokens? Will the be burned or offered for sale after the ICO?

Even though we have now a new community manager, I will answer as I understood it, FIEX should correct me if I am wrong:

First of all, unsold tokens will be burned. But if the ICO won't reach the hard cap (which will most likely be the case) they will keep a 10% liquidity reserve out of the unsold token. From this reserve, they will offer SCT on their platform after the ICO.

We will burn all unsold tokens. The liquidity reserve will be burnt as well, if there is enough liquidity to support the smooth functioning of the soma platform. So to conclude - we will not sell SCT anymore after the ICO unless there would an event that there is not enough SCT on the markets to support the Soma platform. When the liquidity is reached, the liquidity reserve will be burnt.

To summarize:
All the unsold tokens will be burnt

thank you FIEX, it was a wise choice for SOMA to decide to pick a community manager and listen to the concern people had in this thread. 10/10

It was a must at this point. Hope the decision didn't make it through too late! It's important to highlight this project in order to achieve more visibility over other ICOs.

[fajarkus12]

Yes the patent process is really interesting, it’s seems to be users friendly and its the most important things for that kind of project, soma platform will have a lot of users with a nice design and a simple utilisation.

User friendly app can help new people to more easily to understand how to using Soma app and enjoy to use it. So a lot of people have possibility to join and using soma app for sell or buy something

[lvsca]

Has anyone checked out the patent process for Soma's Interactive Item Card feature?



You can find the whole document on their documents page. https://soma.co/documents/

that seem good, hope it released soon

[Sozialtourist]

Yes the patent process is really interesting, it’s seems to be users friendly and its the most important things for that kind of project, soma platform will have a lot of users with a nice design and a simple utilisation.

User friendly app can help new people to more easily to understand how to using Soma app and enjoy to use it. So a lot of people have possibility to join and using soma app for sell or buy something

Yes, such an app would be nice. Unfortunately, there is still only an iOS demo app. Maybe the new community manager can tell us why there is this delay for the Android app and when we can expect to test it.

[FIEX]

Well, I want to ask to FIEX about closed beta, it's only for token holders or anyone can apply (and only some will be selected of course, with "anyone" I mean, crypto devs, crypto influencers etc...) when it will be released?

Our team is now focusing to develop Android and web version of Soma marketplace. We will keep our community updated regarding the progress of our development. The closed beta will not only be for token holders. Everyone will be able to join this beta.

The team is aiming to release the beta in December.
You have to apply as beta tester on the website of SOMA (feature will be added when we are closer to the release of the beta).

[cantdecide]

Has anyone checked out the patent process for Soma's Interactive Item Card feature?



You can find the whole document on their documents page. https://soma.co/documents/

I still don't think this is nothing that great as it just can tracks sales on the platform :/ So you can cheat with your items probably, but maybe I get it wrong.

[FIEX]

What is meant exactly with "When the liquidity is reached, the liquidity reserve will be burnt"?

Does it mean, when a specific amount is collected during the ICO, the liquidity reserve will be burned, too? Could you tell us, what the threshold is so that this reserve will be burnt?

This means that SCT is liquid enough in several exchanges as the demand of SCT will grow in line with Soma's growth. Liquidity reserve was designed for unlikely event that it would not be so. Theoretically this could happen for example just after the ICO if large amount of token holders would decide to hold their SCT.

Hope this answers your question.

[Levontres]

in mind, a very worthy project.
but really, when can we expect a working application on the android?
so that we can test its work

[haxllega]

Yes the patent process is really interesting, it’s seems to be users friendly and its the most important things for that kind of project, soma platform will have a lot of users with a nice design and a simple utilisation.

Let's hope they will have an app which is easy to understand because that's most important to attract new users.

[SEELE^^01]

What is meant exactly with "When the liquidity is reached, the liquidity reserve will be burnt"?

Does it mean, when a specific amount is collected during the ICO, the liquidity reserve will be burned, too? Could you tell us, what the threshold is so that this reserve will be burnt?

This means that SCT is liquid enough in several exchanges as the demand of SCT will grow in line with Soma's growth. Liquidity reserve was designed for unlikely event that it would not be so. Theoretically this could happen for example just after the ICO if large amount of token holders would decide to hold their SCT.

Hope this answers your question.

actually, this answer is pretty logical. thank you for clearing this out good response, fiex.

[matjas]

What is meant exactly with "When the liquidity is reached, the liquidity reserve will be burnt"?

Does it mean, when a specific amount is collected during the ICO, the liquidity reserve will be burned, too? Could you tell us, what the threshold is so that this reserve will be burnt?

This means that SCT is liquid enough in several exchanges as the demand of SCT will grow in line with Soma's growth. Liquidity reserve was designed for unlikely event that it would not be so. Theoretically this could happen for example just after the ICO if large amount of token holders would decide to hold their SCT.

Hope this answers your question.

But there is still no guarantee for that, if you dont set a specific value of token you are aiming at, liquidity can be a relative term.

[imtiazmahmood]

i hear soma project have partnership with other reputed project also. i will find more info. i think soma is the one project going successful.

[magisterr]

Great news about unsold tokens. This will give more value for tokens 

what you mean? are they will burn token?
and, what can make token more valuable?

Yes, they said, that they will burn all unsold tokens. Yes, less quantity tokens = more value per token 

[levyashin]

i hear soma project have partnership with other reputed project also. i will find more info. i think soma is the one project going successful.

I think you are talking about utrust.

You can read more in here:

http://www.nasdaq.com/press-release/utrust-and-soma-announce-powerful-partnership-to-upgrade-classifieds-business-model-20171013-00625

[lobat999]

After the token sale, I'm a bit more excited on the platform development of SOMA and eager to test the final product for this wonderful project.

[cmg12]

Great news about unsold tokens. This will give more value for tokens 

what you mean? are they will burn token?
and, what can make token more valuable?

Yes, they said, that they will burn all unsold tokens. Yes, less quantity tokens = more value per token 

In other words less supply =higher demand =higher price of token

[FIEX]

Has anyone checked out the patent process for Soma's Interactive Item Card feature?

You can find the whole document on their documents page. https://soma.co/documents/

The patent application is submitted already in 2016. However, we have been informed that USPTO is experiencing significant delays and that has delayed the process. We did a preliminary novelty research before submitting the application and this research didn't find any issues which would prevent the patent application to be successful.

[Voltaje]

Great news about unsold tokens. This will give more value for tokens 

what you mean? are they will burn token?
and, what can make token more valuable?

Yes, they said, that they will burn all unsold tokens. Yes, less quantity tokens = more value per token 

In other words less supply =higher demand =higher price of token

I said before that burning the tokens will be the better solution, the project needs to be attractive to investors, so it will attract more people and the value will increase, and as any project, you need to keep the investors happy, if you don't, your project will be going to hell.

[viljy]

Well, I want to ask to FIEX about closed beta, it's only for token holders or anyone can apply (and only some will be selected of course, with "anyone" I mean, crypto devs, crypto influencers etc...) when it will be released?

Our team is now focusing to develop Android and web version of Soma marketplace. We will keep our community updated regarding the progress of our development. The closed beta will not only be for token holders. Everyone will be able to join this beta.

The team is aiming to release the beta in December.
You have to apply as beta tester on the website of SOMA (feature will be added when we are closer to the release of the beta).

It would be nice to look at the working beta version. There can already sell different stuff? I previously just asked in which countries the network will begin to function first. I would sell something and bought maybe if it was all within the same country at least.

[bitcoinbulk]

Has anyone checked out the patent process for Soma's Interactive Item Card feature?

You can find the whole document on their documents page. https://soma.co/documents/

The patent application is submitted already in 2016. However, we have been informed that USPTO is experiencing significant delays and that has delayed the process. We did a preliminary novelty research before submitting the application and this research didn't find any issues which would prevent the patent application to be successful.

Getting a patent approved is HUGE! I think it would be a gigantic step for the project. I have my fingers crossed