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Why was Ptolemy I Soter called Soter, meaning Savior?

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Coin depicting Ptolemy I Soter — Ptolemy I Soter Ptolemy I Soter, portrait on a silver tetradrachm; in the British Museum

Ptolemy I Soter received the title Soter, which means "Savior," in 304 BCE. He was accorded this divine title by the inhabitants of Rhodes after he provided them with aid against Antigonus during a period of intense conflict. From that time forward, he was commonly referred to by this name.1