Soft Is Based
Introduction
Today, Soft DAO announces a significant leap forward — the migration of the $SOFT token from Ethereum to Base, a cutting-edge EVM-compatible Layer-2 solution incubated by Coinbase. This transition benefits Soft DAO in two ways: it offers a fertile ground for new buildouts, and enjoys strong network effects.
NOTE: At the time of writing, community members have bridged over 110,000 $SOFT to Base.
$SOFT Contract Address on Base: 0x04d1963c76eb1bec59d0eeb249ed86f736b82993
Why Migrate?
Cost and Speed
The primary drivers behind this shift are the high fees and slower transaction times associated with Ethereum’s Layer-1 network. By migrating to Base, Soft DAO cuts down on transaction costs and enhances processing speeds, making operations smoother for contributors and community alike.
Strategic Benefits
Base network emerges as the most compelling option among Layer-2 solutions, thanks to its robust community, increasing liquidity, and extensive support from the Coinbase foundation. Its successful onchain initiatives exemplify a seamless and effective rollout, positioning Base as the ideal ecosystem for Soft DAO’s next growth phase.
What This Means for Soft DAO
Token Bridging Now Open
As of today, Soft DAO community members can start bridging their $SOFT tokens to Base. This migration was facilitated by BaseMigrate — expertly crafted by Njoku.eth, this tool had streamlined the transition process and brought dozens of projects to Base.
New Opportunities on Base
Today’s deployment of Soft DAO’s smart contracts on Base unlocks new possibilities:
- Fundraising and Token Distribution: Teams using Soft’s protocol can now raise funds and distribute tokens directly on the Base network, bypassing the high costs associated with Ethereum.
- Fundraising and Token Distribution: Teams can also leverage Soft’s state-of-the-art onchain identity system. This system can be used for credentialing across a multitude of use cases.
How to Bridge Your $SOFT Tokens
- Preparation: Ensure you have $SOFT tokens in your Ethereum wallet. If you need tokens, they can be purchased on Uniswap. Please note that liquidity may be limited until the end of the stealth round, leading to slippage. Small buys are recommended rather than large ones.
- Using SuperBridge: Bridge $SOFT tokens to Base via the Superbridge. This user-friendly app ensures a smooth and secure transition from Ethereum to Base.
- Post-Bridge Steps: Once your tokens are on Base, you’ll enjoy faster transactions at a fraction of the cost. In the near future, some onchain events will occur that you may want to participate in. Will you be early, anon?
Getting Soft On Based
Getting Soft on Base is a big step for Soft DAO, aligning with the community goals of scalability, efficiency, and growth. Community members are encouraged to bridge their tokens to Base and take part in this exciting new chapter. With lower costs, enhanced speeds, and access to ecosystem support, the future looks promising for Soft DAO on Base network.
Looking Ahead: A Crosschain Future
While the immediate migration to Base serves as our fast track to Layer-2, Soft DAO is not stopping here. The core team is exploring comprehensive crosschain functionalities to expand Soft DAO’s presence across all of web3. There are several different implementations that could accomplish this, most notably those by Connext & Wormhole.
Be Early, Be Smart, Be Based.
Join us on this journey and help shape the future of decentralization. Soft DAO is not just based on Base; it’s are “Base’d,” ready to explore the vast potential of Layer-2 solutions and beyond.
Happy bridging!
Twitter: https://twitter.com/thesoftdao
Website: https://thesoftdao.com
Discord: https://discord.gg/thesoftdao
