November 29, 2021 - 3 min read
SOMA.finance and SupraOracles are working together to bridge the gap between DeFi and TradFi. We believe that DeFi applications must be interoperable with TradFi to achieve a prolific and sustainable impact in financial markets. Often, these gaps are a direct result of TradFi institutions being obligated to comply with regulatory policies that DeFi projects have yet to address.
As the world’s first SEC and FINRA-licensed Issuance Platform and AMM (automated market maker), SOMA.finance fully faces regulatory challenges and combats the perception of bad actors in the DeFi space. SOMA’s V1 launch will include 20-30 equities, ETFs, STOs, digital assets, and more. SOMA.finance offers a peer-to-peer and decentralized trading experience that eliminates the need for centralized order books and minimizes the risk of market manipulation.
SOMA.finance is choosing SupraOracles to arm SOMA features with fast, accurate, and secure data feeds, such as price and interest rate feeds. The speed and accuracy of our oracles will minimize the risks of slippage and issues resulting from imprecise compliance reporting. Our team is also looking forward to hosting AMAs with SOMA.finance’s team in furthering the discourse on the relevance of government regulation in bridging the gap between DeFi and TradFi.
John Patrick Mullin, Co-founder of SOMA.finance, commented: “As the first compliant multi-asset DEX & Issuance platform for tokenized equities, crypto assets, STOs and NFTs, we along with our stakeholders look for absolutely the best when it comes to supporting our critical infrastructure needs. We believe that SupraOracles’s solutions meet our needs for fast, secure, and reliable data feeds as well as understand the complexities of reporting in compliant and regulated settings. We are delighted to have SupraOracles as our oracle partner.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented: “SOMA.finance is leading a charge to legitimize AMMs in the eyes of regulators. Not only is this great for their own product, but also the overall DeFi industry as a whole. SupraOracles is dedicated to supporting SOMA’s mission by providing secure oracle services with accurate data feeds. We see this partnership growing due to the compatibility of our teams’ values and commitment to innovation.”
SupraOracles strives to bridge the gap between traditional capital markets and the Web3.0 ecosystem. Our vision and driving mission is to empower the developer community with a novel oracle toolset so that they may conveniently create, deploy, and manage data applications with superior performance, robustness, and agility.
Our project is supported by seasoned professionals with experience in the architecture of consensus mechanisms, randomness research, real-time data services, investment banking, digital securities, traditional stock exchanges, big data, doctoral academia, big 4 consulting, blockchain/DLT, and DeFi.
Together with our developer community and growing list of partners, SupraOracles aims to solve the oracle dilemma and ultimately, power the future of finance.
SOMA is a FINRA-licensed and SEC-regulated multi-asset AMM and compliant token issuance platform for tokenized equities, crypto assets, STOs, and NFTs.
SOMA will consist of a multi-asset automated market maker (AMM) trading platform where users can seamlessly trade a variety of asset classes against one another, such as tokenized versions of US equities/ETFs and ETH or stablecoins using a shared liquidity pool (LP) where both retail and institutional players can partake, as well as a compliant token issuance platform that allows for Reg D/S/A+/CF launches enabling issuers to compliantly raise capital from both retail and institutional players globally.
As opposed to synthetic equities, users on SOMA actually own the underlying assets (1–1 backed). Users are also able to utilize their LP liquidity tokens to then be able to yield farm a number of different assets including stablecoins, the SOMA token, and even a mixed bag of stablecoins, tokenized securities, and SOMA.
Being able to compliantly earn yield on, trade, and take part in newly issued tokenized securities and crypto assets, SOMA.finance is the first to truly bring DeFi to TradFi across the global retail and institutional market.
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