SoarChain is at the forefront of developing various applications for vehicles. This includes tools for remote maintenance diagnostics, insurance models that promote safe driving, safety and roadside assistance apps, and more. As the project evolves, expect to see even more applications.
You’re probably curious about the rewards tied to SoarChain. A comparable application, DEMO, once enabled users who purchased the DEMO autopilot device to earn significant token rewards. Although SoarChain is currently in its beta phase, beta users are already confirmed for an airdrop. Mark your calendars: SoarChain’s mainnet launches on Solana on October 25th, 2024. And the Token Generation Event (TGE) is on November 8th.
Tokenomics and Airdrop Eligibility
According to SoarChain’s tokenomics, 2.5% of the total supply is reserved for airdrops, primarily for those who purchase the SoarChain Mini device before the mainnet launch. If you acquire the device post-launch, you can still earn network rewards, which comprise 37.6% of the total supply. Furthermore, additional airdrops are available for certain token stakers as part of their Genesis Drop program.
How to Purchase and Use the SoarChain Mini
For those interested in purchasing the SoarChain Mini, it’s currently priced at $83 on their website. A special discount code, “BOXMINING” provides a 10% discount on your next order. Before purchasing, verify compatibility with your vehicle using their support form. SoarChain offers a full refund if the device is incompatible with your car. As a decentralized project, SoarChain is available worldwide, with shipping expected to take one to two weeks.
Recent Developments
The SoarChain mainnet is strategically launching in Q4, a historically bullish period for the crypto market. This ambitious timeline coincides with the having year, presenting numerous opportunities for earning airdrops through staking tokens like Atom, Tia, Milk Tia, and Akash. A notable improvement is the recent Bluetooth connectivity feature for the SoarChain Mini, streamlining the user experience for both iPhone and Android users.
Pros and Cons
Let’s weigh some pros and cons. The mining rewards and airdrops through SoarChain are less diluted, given the requirement of owning the physical device. This exclusivity could be advantageous. However, for SoarChain to truly capture value for its ecosystem participants, it must establish market dominance in the drive-to-earn sector. Although the market for a global car-connected ecosystem is massive and growing, the decentralized infrastructure (DePIN) necessary for mass adoption is still developing.
Conclusion
SoarChain is an exciting entry into the “drive to earn” arena, with significant developments awaiting as the project matures. Stay tuned for more updates, on our Youtube channel, including insights from Michael on BoxMining next week.