Soteria Monthly Report — January 2021

Insurance products launch the market at the right time!

The BSC DeFi ecosystem is flourishing. Currently, there are more than 100 DeFi projects, thousands of digital assets, and TVL is exceeding US$1.2 billion (https://www.defistation.io/). Therefore, security is particularly important. Soteria is the only insurance platform that runs on the Binance smart chain and uses BNB as a guarantee and claim assets. While filling the insurance gap in Binance, the deep integration of Soteria and the BSC ecosystem has greatly stimulated the application scenarios of BNB and accelerated the rapid development of Binance’s DeFi ecosystem.

Since Soteria entered the market, it has been making great progress. We wish to share with our supporters and followers on the progress we have made.

Milestone event

• On January 13, Soteria officially launched the market.
• On January 19, Soteria launched the insurance service for PancakeSwap users, and the number of members increased to 590.
• On January 20, the insurance service provided by Soteria for PancakeSwap users reached 500,000 SOTE in 5 hours.
• On January 21, Soteria started IFO, over-raising the funds of 22.7 times, breaking the record in the PancakeSwap’s history.

• On January 25, Soteria launched Barkery insurance service.
• On January 27, Soteria officially started the Blink insurance function.
• On January 29, Soteria cooperated with Sphinx and started the insurance function.

Core Data

Media Coverage

With its outstanding performance, Soteria has received high attention from various media: CryptoNewsFlash, Coinidol, Coinspeaker , Blockmanity, Cryptonews, BeinCrypto, Chain Bulletin and some other large foreign media have covered the news of Soteria’s IFO and other activities.

Among them, according to the article First Insurance Project on BSC is Launching the Market, Soteria is Ready to Safeguard BSC DeFi, “Soteria’s launching the market can undoubtedly open a new era for BSC. While ensuring the safety of other DeFi projects, it will stabilize DeFi currency prices, increase investor confidence, and further promote the integration and collision of other projects.”

In addition, in The Chain Bulletin, the article BSC Rising Star Soteria Starts Insurance Service on Blink, Broadening BSC Ecosystem & Empowering BNB says that: “While protecting the safety of the BSC project, Soteria is constantly laying the foundation for its own ecosystem growth, while also stimulating adoption of BSC. In the future, the growth of the Soteria ecosystem will undoubtedly further enrich the BSC, empower BNB, and have a great impact on BNB trading.”

Community Operation

On January 21, Soteria launched IFO, raising funds 22.7 times more than the original plan, breaking the record of PancakeSwap. At the same time, thanks to the support of the community members, the number of participants in Soteria IFO set a new record on PancakeSwap.

Soteria officially launched its insurance business on PancakeSwap, BakerySwap, BLINK, BSCEX, SPHINX, dForce (BSC), ForTube (BSC), QIAN (BSC), etc. in January, and achieved deep community cooperation. Moreover, cooperation between Soteria and more BSC head projects is under negotiation.

In January, Soteria held AMA in 10 mainstream blockchain communities including PancakeSwap, CryptoNewsID, CryptoTalk, etc., covering more than 200,000 users, further expanding Soteria’s popularity.

Soteria community volunteer Ye Wen participated in the Binance Block 101 “ Insurance, DeFi New Hot Spot” live broadcast, and expressed his insights on insurance and DeFi development, receiving unanimous praise from the community.

PancakeSwap successfully launched Stake CAKE for wSOTE event, and $WSOTE-$BNB LP APY reached 502.72%.

BeefyFinance launched wSOTE, and WSOTE-BNB APY reached 957%.

Soteria has participated in the BSC New Year’s welcoming event. So far, the number of participating users has exceeded 2,000.

Soteria MCR broke through the 30,000 BNB set at startup. MCR represents the minimum amount of funds required by the mutual platform to pay all claims. This event marks the new level of Soteria’s development.