Now it has come to the point where you can make money even if you buy shit? I found that many altcoins no longer follow the big guys, but instead follow the altcoin leader ETH. If the second largest one rises by 1%, the smaller ones will rush by 10-20%. In this market, the K-line terms such as pressure support are not very meaningful to study. Just do it with your eyes closed, especially the old mainstream coins are enjoying a second spring!

But I have to pour cold water on it. There are times when the price of Bitcoin has dropped by 5 points, and I will lose more money at that time. When the market falls, we should remember the benefits of Defi, which is simple to operate and stable income. The SOFA project I have been playing before, RCH seems to have reduced production from today. Looking at the token economics, the airdrop has been reduced by 20% every day since the beginning of the past two days, and there are only 10,000. However, it is not very obvious from the price fluctuations. Maybe we have to wait for the reaction after 4 pm?

Many people compare SOFA and PENDLE, which is a bit unfair as it is a mature project that has been developed for 3-4 years. However, it is still quite instructive from the development history of PENDLE.

PENDLE was also stagnant at the beginning, with the lowest TVL dropping to 4 million. It really started to pick up in early 2023, when the market was in a bottom consolidation state, BTC was less than 20,000, and hot money began to flow into Defi projects with stable returns. Later, it was listed on Binance in July, starting a positive flywheel, and both the token price and TVL soared. Now the total TVL is 4.2 billion, and the market value is 1.1 billion, which is also a very impressive performance in this round of market.


Let’s look at the situation of SOFA. Now the TVL is stable at around 10 million, and the price is 0.5 dollars. Since it is not listed on a major exchange, it has not performed well in this round of market. It can only be said that it is too similar to the early days of Pendle. (The red area in the above picture)


However, judging from the team’s actions in recent times, there is still hope. First, they set up a loan service on CRV and connected it to crvUSD. Then, they launched Automator to avoid some tedious operations. The one-click experience gives you an annualized return of about 22%. In the past two days, they launched the Telegram app: https://t.me/sofacorner_bot/sofacorner?startapp=13031613… to pave the way for the launch of $SOFA (the Cushions points in it can be drawn or exchanged for SOFA points).

All these show that the team is still working hard on the product. Friends who are stuck at the top of RCH are very anxious. Mr. Lee, who is responsible for the SOFA product, always emphasizes one point when chatting with everyone on Telegram - polish the product and leave the price to the market. Looking at the development history of Pendle, it is really not urgent! But don't worry too much. RCH production is reduced and SOFA is about to go online. There is a lack of an opportunity to ignite the market. Who knows, the surge you expect may be on the way.