Introducing the Sophon Node Sale
We’re excited to announce Impossible’s second Node Sale with Sophon, an entertainment-focused ecosystem built as a modular rollup leveraging zkSync’s Hyperchain technology.
*Updated as of 24 April
Hey Impossible Community,
We are so excited to announce our second Node Sale with Sophon – a modular rollup leveraging zkSync’s Hyperchain technology, for the entertainment sector. With strong collaborative backing from ecosystems like zkSync, Beam, Zentry and Aethir, Sophon brings together AI, gaming and more in a thoughtful platform that benefits both developers and users.
Following a recent $10 million raise from top-tier investors, including: Paper Ventures, the Spartan Group, Maven 11, SevenX Ventures, OKX Ventures and HTX Ventures, with additional support from Matter Labs and Lambda Class, Sophon is positioned as a comprehensive solution for entertainment, gaming, music, art, ticketing and more.
What is Sophon?
Sophon is a community-driven and entertainment-focused ecosystem built atop a modular rollup stack leveraging zkSync's Hyperchain technology.
High transaction fees and limited cross-chain interoperability in current blockchains lead to fragmented user experience, while scalability issues further compound these challenges. Additionally, there is a lack of developer incentives in existing blockchains, often driving them to pursue grants, which hinders growth and innovation within those blockchain ecosystems.
Sophon aims to tackle these challenges, with the goal of ensuring every stakeholder, from developers to users, is encouraged to participate in the network and fairly rewarded for their contributions.
In an effort to achieve fair and incentivized participation, the intention is to allow node holders to operate the Sophon sequencer and thereby receive sequencer fees. In addition, node operators are intended to be rewarded in the native token of the Sophon network, $SOPH, for contributing to the maintenance and integrity of Sophon’s decentralized infrastructure.
Sophon’s integration with zkSync Hyperchain technology and hyperbridges — the native and trustless communication protocol of the ZK stack — allows for cross-chain interoperability where Sophon can seamlessly communicate and exchange value with any other chain within the ecosystem, tapping into the ecosystem’s rich liquidity and userbase.
Sophon Node Sale
We are excited to announce that the Sophon Node Sale is coming soon, with Impossible Finance as a platform for the Node Sale. By running a node on Sophon, it is intended that you will be eligible to earn a share of up to 20% of SOPH token emissions over a 3 year period (assuming continued participation as a node operator for the duration of that period). Node holders may also receive potential airdrops from ecosystem participants or by participating in events held by contributors.
The Sophon Node Sale will take place on zkSync.
To participate, you will need wETH. Follow this guide on how to get WETH in zkSync.
How to bridge to zkSync 🌱
- Step 1. Head to https://jumper.exchange/exchange
- Step 2. Connect your wallet, simply by clicking "Connect" button
- Step 3. Select any network and token in the "From" field, and in the "To" field choose zkSync and WETH
- Step 4. Click on the "Review Bridge" button, click on the "Bridge" and confirm the transaction in your wallet
- Step 5. Good job, everything is done, just wait for the transaction to be confirmed
📌 Pro Tip: Stake IDIA tokens in the Impossible Finance Whitelist Campaign to get Sophon allocation.
For more details, check out Sophon’s Node Sale information.
Impossible Whitelist Sale for Sophon Nodes
As a platform for the Node Sale, Impossible Finance has secured 3,700 Tier 3 nodes for our community. For a seamless experience, the IF Community Whitelist can be completed entirely on the Impossible Launchpad, by staking IDIA (Arbitrum), without having to go onto Sophon’s dedicated page for the Node Sale on its website. Users that want to participate in the Public Round or have joined other Whitelist campaigns can still go to Sophon’s dedicated page for the Node Sale on its website (coming soon).
Impossible Finance Whitelist Campaign Timeline
IDIA Staking Campaign
Step 1: Participate in IDIA Staking Campaign on IF Launchpad website.
Step2 2: Purchase your allocation between 26/04/2024 - 29/04/2024 on the Impossible Launchpad.
StakeWeight Formula
The Staking Campaign will follow Impossible’s standard StakeWeight Allocation model, where the number of nodes users get to purchase depends on:
- How much IDIA you stake and
- How long you stake IDIA for in relation to the other stakers of the pool.
Due to the campaign special circumstances, the calculations for the StakeWeight formula will be rounded up to determine the node allocation.
Estimated Rewards = Number of Whitelisted Node/s you will receive
Staking Amount: The amount (and how long) you stake corresponds to the amount of node/s you will receive. However, the Estimate Reward may not always be a whole number (e.g., 1 or 2 nodes) and we cannot sell fractions of nodes (e.g., 0.7 nodes).
To purchase, you need to stake enough to obtain a whole number of Estimate Rewards. This balance will change daily as more users stake. If you drop below a full number (<1) you will need to increase your Stake to guarantee a Node allocation. So check regularly!
Examples
- Estimate Rewards: 0.51 = 0 nodes
- Estimate Rewards: 1.23 = 1 node
- Estimate Rewards: 2.91 = 2 nodes
SOPH Token and Tokenomics
SOPH is the native token for the Sophon ecosystem. In an effort to achieve fair and incentivized participation, the intention is to allow node holders to operate the Sophon sequencer and thereby receive sequencer fees. In addition, node operators are intended to be rewarded in $SOPH for contributing to the maintenance and integrity of Sophon’s decentralized infrastructure.To ensure stability, $SOPH tokens received as rewards for contributing to the maintenance and integrity of Sophon’s decentralized infrastructure will be locked and non-transferrable for a period of 3 months after claim.
About Impossible Finance
Impossible is an on-chain native, research advisory firm with a DeFi launchpad and accelerator. We help projects kickstart, fundraise, scale and launch their tokens while enabling users to learn, discover and invest in high quality crypto opportunities.
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Disclaimers
- Notes: DISCLAIMERS, TERMS, and RISKS
- This content is provided for informational purposes only by Impossible Finance, and should not be relied upon as legal, business, investment, financial or tax advice. You should consult your own advisers as to those matters. References to any digital assets and the use of finance-related terminology are for illustrative purposes only, and do not constitute any recommendation for any action or an offer to provide investment, financial or other advisory services. This content may not under any circumstances be relied upon when making a decision to purchase any digital asset referenced herein, including but not limited to, Sophon nodes or Sophon tokens. There can be no assurance that the investments mentioned herein will be profitable. The digital assets referenced in this report currently face an uncertain regulatory landscape in several jurisdictions. The legal and regulatory risks inherent in referenced digital assets are not the subject of this content. The content speaks only as of the date indicated.
- Any participation in the node sale will be subject to the purchaser agreeing to the Node Sale Terms and Conditions, which will be published on Sophon’s website on or prior to the node sale.
- Risk Warning: Trading and/or generally investing in any cryptocurrency involve significant risks and can result in the complete loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before investing, please consider your level of experience, objectives, and risk tolerance, and seek independent financial and legal advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of Impossible Finance based on the legal and regulatory requirements of your country of residence and/or applicable jurisdiction(s).
- The information provided on this memo does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Impossible Finance does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
