What is Solstarter (SOS)? Everything you need to know about SOS

IDO is the most decentralized and transparent way to raise funds, which often helps investors make huge profits from small investments. In the crypto landscape in 2021, new projects are launched, fueling the hype of a rich-quick scenario.

Solstarter is one of the first IDO platforms built on the Solana blockchain, giving investors early access to projects’ public token sales.

The article below will provide all detailed information about Solstarter, including:

• What is Solstarter and the SOS token? How does it work?
• Specific details about SOS token and it’s tokenomic including its up-to-date price, key metrics, distribution and use cases.
• How to get a SOS? Where to store it?
• Solstarter roadmap and updates & details about team, investors and partners.

Let’s get started!

What is Solstarter?

Solstarter is an IDO platform built on Solana that accelerates Solana-based projects in an accessible and decentralized way. There are notable features as follows:

• Fair Distribution: IDO on the platform is 100% fair, every investor earns tokens based on the amount of SOS tokens they own.
• Guaranteed Allocations are to avoid bots sniping the pool to manipulate the platform.
• Decentralization is achieved by the DAO governed by the community to determine Solstarter’s future.

Since the platform is running on the Solana network, it inherits many advantages of the infrastructure such as scalability, high-speed and low-cost transactions. This eliminates all the existing problems of 2.0 blockchains like Ethereum.

How does Solstarter work?

Solstarter is trying to build an incubating platform that uses a tier-based system and the KYC requirement. Projects’ tokens are distributed to participants based on the amount of Solstarter tokens they own. The IDO process on Solstarter consists of three rounds.

• Round 1 in IDO, holders have to stake a minimum amount of 5000 SOS tokens to participate in the pool system with their tier.
• Round 2 starts when there are remaining unsold tokens in the first round. FCFS (First Come First Serve) model is applied with priority starting from the highest tier to the lowest one.
• Round 3 will open for everyone with an uncapped purchase limit if there’s any project token left.

Public Swap is accessible for every participant with a tier.

Private Swap can only be accessed via a private link that project teams share to private investors in seed rounds, strategic rounds, or other sales requiring privacy.

IDO participants are distributed token allocations depending on the amount of SOS tokens they own. 

• Tier 1: 7% IDO tokens, requiring 5,000 staked SOS tokens.
• Tier 2: 15% IDO tokens, requiring 9,000 staked SOS tokens.
• Tier 3: 28% IDO tokens, requiring 16,000 staked SOS tokens.
• Tier 4: 50% IDO tokens, requiring 25,000 staked SOS tokens.

The Solstarter team plans to create a micro staking tier called Satellite in which investors have to stake a minimum amount of tokens. Then every individual will have a lottery ticket to get allocated tokens. This feature allows every small investor to support the project, forming a network effect.

Projects launched on Solstarter are granted benefits from the platform and the community around it.

• Dedicate community, technical advisory.
• Tokenomics and rollout strategy.
• Reach to top auditors and security companies.
• Blockchain developers and graphic designers.
• Advisors of Solstarter.

What is SOS Token?

The SOS token is the SPL utility token of Solstarter on the Solana Network. The main use case of SOS tokens is to participate in token sales of new projects launched on the platform.

SOS tokens can be staked to earn representative governance tokens xSOS of the platform after a 30-day period. 

Detailed information about SOS Token

SOS Key Metrics

• Token Name: Solstarter.
• Ticker: SOS.
• Blockchain: Solana.
• Token Standard: SPL.
• Contract: Updating...
• Token Type: Utility.
• Max Supply: 100,000,000 SOS.
• Circulating Supply: Updating...

SOS Token Allocation

The SOS Token has the total max supply of 100,000,000 tokens distributed as follows:

• Seed Sale: 7.5%.
• Private Sale: 7.5%.
• IDO Sale: 10%.
• Marketing: 20%.
• Ecosystem Fund: 15%.
• Team: 10%.
• Staking: 10%.
• Partnership & Advisors: 10%.
• Initial Market Fund: 10%.

SOS Token Sale

Solstarter will raise a total of $3,225M after Seed Sale, Private Sale, and Public IDO Sale.

SOS Token Release Schedule

• Seed Sale: 7.5%; 5% TGE and 5% monthly after.
• Private Sale: 7.5%; 15% TGE and 5% monthly after.
• IDO Sale: 10%; 100% unlocked.
• Marketing: 20%; 5% monthly.
• Ecosystem Fund: 15%; 4% monthly.
• Team: 10%; 1 year locked; 8.33% monthly after.
• Staking: 10%; Community Rewards emitted over 5 years.
• Partnership & Advisors: 10%; 1 year locked; 8.33% monthly after.
• Initial Market Fund: 10%; Liquidity Provision.

SOS Token Use Case

Solstarter tokens are used in many cases:

• IDO Participation is the main utility of SOS tokens. SOS holders can accumulate the token by staking them.
• Staking: SOS can be staked to earn xSOS tokens, which can be used in the governance system.
• Governance: SOS holders can participate in the DAO, making Solstarter decentralized as soon as possible. This means everyone with SOS tokens has a strong voice in the future of the platform.
• Providing Liquidity on Raydium or Solana when the token is released.

How to get SOS Token

You can get SOS tokens by buying on exchanges.

How to buy SOS tokens

Users can buy SOS token on:

• CEXs: Gate.io and KuCoin.
• DEXs: Raydium.

Roadmap & Updates

• DAO is used for governance decisions.
• OCT Trusted Swaps allows investors to make trusted escrowed transactions.
• Liquidity locking pools.
• Expansion to other blockchain platforms.
• Fair LBP pool launches and NFT auctions on-chain.

Team, Investors, and Partners

Team

Investors

Updating...

Partners

Solstarter formed knot-knitted partnerships with 8 big VCs. They have a reputation for providing long-term support for projects. Furthermore, they have a strong community backing them with a wide network of social media.

Is Solstarter (SOS) a good investment?

Like other projects on Solana, Solstarter gets support from the ecosystem and inherits all cutting-edge technologies. It used to be a pioneer in the launchpad sector on Solana. However, they have delayed the product release for too long and are expected to release the product as soon as possible. There are some key highlights from Coin98 for investment considerations.

An amount of 5000 SOS is required to get a guaranteed token allocation. This will be accessible for most investors, forming a strong community supporting Solstarter. However, the SOS token is yet to be released, and the exact token price is still unknown.

Other launchpads on Solana such as AcceleRaytor on Raydium and Solanium have already launched multiple projects and gained initial success. The launchpad market on Solana is somehow considered saturated when most projects have been launched in the last few months. It will be hard for Solstarter to get prominent projects as they are late.

Let’s look at the truth, Solstarter hasn’t released its product yet and everything is still on paper. Supported by big VCs and a huge community with over 100k members on the Telegram channel and 200k followers on Twitter, Solstarter is expected to surprise the market when released.

Currently, there is no information about the project that will be incubated on the platform. Moreover, DeFi projects on Solana are now growing big after raising a huge amount of funds on other IDO platforms. Which project will be the first to be launched on Solstarter? A DeFi or NFT project?

In my opinion, Solstarter is left behind by other launchpads on Solana, so the team should put forward strategic plans to lay down the product to get a big bite of the market. And as usual, whether it is worth investing or not, Do Your Own Research before buying and be responsible for your investment.

Similar Projects

The Solana ecosystem has been growing fast since the market capitalization of SOL tokens is now in the top 10. Many projects skyrocketed with the help of launchpads inside the ecosystem. As a result, Solstarter has many big competitors, namely:

• On Solana: Raydium, Solanium, Solster, and Bonfida have already launched. They are competing against each other in the launchpad sector.
• On other blockchains: MakerDAO, Polkastarter, and Binance Launchpad are leading the launchpad sector.

Conclusion

Although Solstarter had an early start on the Solana Network, the team is still delaying the release date of the IDO platform. This makes investors frustrated and lose their trust in the project. However, it has a strong community (over 100k members on the Telegram channel), supporting the project to continue going forward on the journey.

That is all you need to know about Solstarter and its SOS token. I hope you’ve gained helpful insights to understand the potential behind Solstarter.

If you want to know further about Solstarter, please leave a comment below and join Coin98 Community for further discussions about Crypto.