SOFA.org discusses the future blueprint of DeFi settlement: creating a secure, transparent and scalable on-chain digital asset settlement foundation

SOFA.org, a decentralized and non-profit DAO organization dedicated to developing a decentralized clearing protocol, today held an in-depth discussion with Mr. John Cahill, COO of Galaxy Digital Asia, on the long-term value of SOFA.org as an industry-wide settlement system and its secure and reliable on-chain structured products. The exchange was hosted by @RealMoonlight and presented to everyone on Binance Live.

SOFA.org was founded with the purpose of laying the foundation for a digital clearing and settlement ecosystem for any financial asset on the chain, including real-world assets RWA and tokenized assets. Developed by senior professionals with rich institutional backgrounds, SOFA.org aims to popularize innovative products to ordinary users on the chain, while leveraging the inherent security advantages of blockchain to provide an end-to-end fully secure and transparent asset workflow. By leveraging the inherent security of smart contract vaults, trade execution and counterparty risk can be completely eliminated, allowing users to focus on what they are trading, not who they are trading.

Augustine Fan, founding partner of SOFA.org, said: "We firmly believe that blockchain technology provides an ideal solution for the clearing and settlement of financial assets. As the best choice for on-chain asset custody, the smart contract vault not only achieves fully decentralized access, but also ensures that data is tamper-proof and traceable, which are the core requirements of institutional-grade settlement systems. SOFA has taken the initial step to become the first fully on-chain crypto structured product protocol. We are looking forward to extending our innovation to the entire ecosystem, including traditional finance (TradFi), to promote DeFi to a new stage of development."

SOFA.org is not only supported by founding DAO members such as HashKey Capital, OKX Ventures, and Galaxy Asia Trading Ltd, but also promoted by other well-known projects and development teams. SOFA.org is positioned as the "Android" system in the DeFi field, dedicated to promoting interoperability between different DeFi protocols to establish a clear, robust and industry-wide digital asset clearing benchmark. The project is currently running on the Ethereum mainnet and Arbitrum, with plans to expand to other EVM chains in the future.

Since its successful launch in June this year, SOFA.org has experienced steady growth and has solid community support. The team has been working hard to establish deep partnerships with major CeFi and DeFi institutions in order to achieve its long-term mission. In addition, the project has chosen an unusual path, namely a 100% fair token issuance ($RCH), with no pre-sales, pre-allocations or special treatment for any insiders. All protocol revenues will be used to destroy $RCH tokens, ensuring that users are the ultimate beneficiaries of the long-term value growth of the protocol. The interests of the project team and users are fully aligned, and they jointly promote the sustainable development of the project.

About SOFA.org

SOFA.org is a decentralized, non-profit, open-source DAO dedicated to developing a trustless DeFi ecosystem that can atomically settle financial assets on the blockchain. The organization's first protocol will focus on structured products for cryptocurrencies, providing users and market makers with a smooth trading experience through pre-made dAPPs and standardized vaults. SOFA.org has received support from multiple DeFi project development teams and well-known crypto platforms. If you want to learn more about SOFA.org, please visit the official website www.sofa.org.