Sophon Chain (SOPH)

What is Sophon?

Sophon is a modular user-centric chain network tailored specifically for mass adoption by facilitating the growth of an engaging and culturally rich ecosystem of applications. Being a part of zkSync’s ecosystem of Ethereum modular L2, called Elastic Chain, offers some notable advantages and improvements when compared to other networks in the space:

• Native account abstraction: Account abstraction is the main way for smart contract wallets or privacy protocols to operate on a chain that enables smart contracts to manage users' accounts, making the entire process completely non-custodial. Such a feature has been implemented on Ethereum relatively lately, yet due to its native incompatibility it requires developers to build complex infrastructures to use it. Sophon chain natively supports account abstraction allowing web3 developers to seamlessly take advantage of this feature. 
• Paymaster: A feature available only for zkSync-powered L2s, allowing developers either to partly or completely remove fees from its platform and pay fees to the network in any token. Paymaster allows dApps to significantly improve user experience and potentially attract more consumers to its platform
• Interoperability: Sophon network, as a part of ZK-powered chains - Elastic Chain, enables seamless communication and subsequently asset transfer within this ecosystem. 

All of those improvements aim to facilitate the growth of the culturally rich ecosystem of various dApps with a main focus not on technology itself but rather on consumers and their improved experience. 

Such an approach has been met quite positively among the crypto community and leading funds, which collectively invested over $71M in both private and public funding rounds. 

🪙 Sophon token: According to the project’s docs, the platform is going to have a utility $SOPH token, which is going to be used as the main currency for paying fees, decentralizing the sequencers on its network. While there is no official confirmation of the token, our team also assumes the token will be also used for powering its DAO, similarly to all other protocols in space. 

Considering the growing interest among the web3 users in the Sophon crypto network, CoinLaunch diligently analyzed the project and found out the list of its most notable pros and cons: 

✅ Sophon pros: 

• Interesting concept and design of the product;
• High PR performance;
• The platform has been audited a few times by prominent security companies like Quantstamp and Sherlock;
• Above the average growth marketing, and SMM scores;
• Wide network of leading funds and investors such as Binance Labs, The Spartan Group, and others;
• Experienced core team members with work records in Matter Labs, or Electronic Arts (EA).

❌ Sophon cons: 

• Quite a large amount of tokens were allocated for private and public node sales (40%);
• Unknown FDV and Initial MC rates;
• Weak marketing infrastructure;
• Below the average influencer marketing and SEO scores;
• A small network of partners.