[ANN][ICO] SOMA - The Social Marketplace

[ParRus]

3 days left till the end of sales. The sales counter is practically not growing. It seems that SOMA will no longer raise money. But if all unsold tokens are burned, the price of the remaining ones will increase. In addition, objectively collected quite a decent amount.

Yes, it's not because every token are not sold that this project will not have some important results.

I agree, now the crypto market is not stable, but I think in the near future, this project will be valued dignified, the main thing is that SOMA team should follow the roadmap

[realbowler]

Burning extended, Token sale extended.  These people love to extend their stuff.
ICO extension was decided and happened without any announcement to the early contributors.

[FIEX]

News about reserve:

We have decided to keep that until the launch of our MVP and then we will burn it, unless free market cannot provide enough liquidity to support crucial functions of the Soma ecosystem.

So, does this mean that you are going to sell those tokens if the market has enough liquidity? And if you can't sell you'll burn them? Please tell me that i have completely misunderstood this sentence.

It means that that we will burn the directly if crucial features of the Soma ecosystem can be powered with the SCT available on the free markets  (such as Soma Rewarding System, which can be only utilized by SCT). If, and only if, there is not enough liquidity provided by the free markets (if nobody is selling SCT for users who would like to utilize some features in the Soma application, we will provide liquidity from the reserve)

[toolucky98]

I seen, that they have MVP only in Q 2018? Do they have more detail roadmap? For each month at last?

Well, closed beta must be near, usually it's not very different from the final product, which will just have minor improvements regarding UI and less bugs (if there are any)

Yeah, according to their roadmap we will still see the closed beta in 2017. Hopefully, they can stick to their schedule and there won't be any delays.

I think the closed beta release is a technical whitepaper, and they have released it

[Rigorous]

Burning extended, Token sale extended.  These people love to extend their stuff.
ICO extension was decided and happened without any announcement to the early contributors.

That is why I am looking at the smart contract. Too late, I know. But that is the point of smart contracts, we can observe them and see what can and cannot be changed and what kind of loopholes they allow.

[greatteager]

Burning is good, and on which exchanges does the coin plan to trade? This is an important stage, Utrast has already taken care of exchanges for example.

[niklasmato]

Burning extended, Token sale extended.  These people love to extend their stuff.
ICO extension was decided and happened without any announcement to the early contributors.

That is why I am looking at the smart contract. Too late, I know. But that is the point of smart contracts, we can observe them and see what can and cannot be changed and what kind of loopholes they allow.

did you find out anything relevant in the code?

[Trrrt]

I think the liquidity reserve is a good idea from the soma team. It will be use only to provide the liquidity in the market for people who want to use some feature on the soma platform, and never to make the price dump. So it’s a good idea I think.

[dave111223]

How is going the token sale ?

[Rigorous]

How is going the token sale ?

Good question. I just looked up one of Soma's deposit addresses. I do not know if there are more.

https://etherscan.io/address/0x63b992e6246d88f07fc35a056d2c365e6d441a3d

Sadly, the contributions are minimal.

[realbowler]

https://etherscan.io/tokens?q=soma

[dave111223]

How is going the token sale ?

Good question. I just looked up one of Soma's deposit addresses. I do not know if there are more.

https://etherscan.io/address/0x63b992e6246d88f07fc35a056d2c365e6d441a3d

Sadly, the contributions are minimal.

Sad, i wanted to participate in but this won't go far with less than 500 ETH :/

[toolucky98]

Burning is good, and on which exchanges does the coin plan to trade? This is an important stage, Utrast has already taken care of exchanges for example.

Maybe we will see some good news about this after the ICO ended 

[Rigorous]

How is going the token sale ?

Good question. I just looked up one of Soma's deposit addresses. I do not know if there are more.

https://etherscan.io/address/0x63b992e6246d88f07fc35a056d2c365e6d441a3d

Sadly, the contributions are minimal.

Sad, i wanted to participate in but this won't go far with less than 500 ETH :/

At least they got some private investors on board, raising a seed round with a valuation of 1.5 million dollar. Although we have to remember a valuation is not the same as the amount invested.

[magisterr]

News about reserve:

We have decided to keep that until the launch of our MVP and then we will burn it, unless free market cannot provide enough liquidity to support crucial functions of the Soma ecosystem.

So, does this mean that you are going to sell those tokens if the market has enough liquidity? And if you can't sell you'll burn them? Please tell me that i have completely misunderstood this sentence.

It means that that we will burn the directly if crucial features of the Soma ecosystem can be powered with the SCT available on the free markets  (such as Soma Rewarding System, which can be only utilized by SCT). If, and only if, there is not enough liquidity provided by the free markets (if nobody is selling SCT for users who would like to utilize some features in the Soma application, we will provide liquidity from the reserve)

How much tokens they will reserve for this? Only 10% I hope??

[martinholly167]

News about reserve:

We have decided to keep that until the launch of our MVP and then we will burn it, unless free market cannot provide enough liquidity to support crucial functions of the Soma ecosystem.

So, does this mean that you are going to sell those tokens if the market has enough liquidity? And if you can't sell you'll burn them? Please tell me that i have completely misunderstood this sentence.

It means that that we will burn the directly if crucial features of the Soma ecosystem can be powered with the SCT available on the free markets  (such as Soma Rewarding System, which can be only utilized by SCT). If, and only if, there is not enough liquidity provided by the free markets (if nobody is selling SCT for users who would like to utilize some features in the Soma application, we will provide liquidity from the reserve)

How much tokens they will reserve for this? Only 10% I hope??

Yes 10%, they have stated it

[germsite]

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.

Ok and that money flows into the development fund or what is the liquidity reserve supposed to be used for?

I think it will go toward the platform development/expansions as the fund they are now collecting, FIEX probably can give a more exhaustive answer.

This is what I hope because they will need a good amount of money to pay themselves and hired developers to finish the whole development. Only burning coins isn't always the most intelligent option.

It's the best for investors. If there is no demand for it, if you still keep them, investors will pay the price.

As per their business plan, every part of the project was allocated with certain funds and unsold tokens should be burned in order to gain investors confidence on the project.

Well then the situation is quite clear and they should stick to the terms all investors agreed upon when they made their investment decision. It might not even be legal for them to change terms unless they somewhere said that everything is subject to change.

[Voltaje]

Burning is good, and on which exchanges does the coin plan to trade? This is an important stage, Utrast has already taken care of exchanges for example.

Maybe we will see some good news about this after the ICO ended 

The project is long term, so we should expect gradual updates after ICO, and even a falling below ICO price, because until the platform is online, the token is just speculative, and is all that we will be expecting until the demand exists.

[Piggy]

Yes, ill just hold the token, the price will definitely go up above ico price once the platform will start to be ready.

[Yasemin]

Only 2 days left till the end of the ICO, until now extending the ICO didnt really do much. Maybe they should burn the half of their tokens.