[ANN] Sovryn - Brings DeFi to Bitcoin

[koang]

Sovryn secured funds led by General Catalyst

In its latest funding round, Sovryn Raises $5.4 Million.
The additional investors in the round were Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan.
The rise comes ahead of the public launch of Sovryn’s Zero protocol.
The investment round is game-changing for both traditional VC and the cryptocurrency market.

The investment round was approved by a near-unanimous vote from a fully decentralized community.
https://ambcrypto.com/sovryn-secured-funds-led-by-general-catalyst/

[koang]

Sovryn Investor Update Nov 2022

As banks assert control on the purchasing power of citizens, we should consider alternatives to a centralized banking world. This is why Sovryn exists.

We are off to a busy start in Q4, this is a business update.
How we are adapting to the trading environment, and we can demonstrate
the product-market fit and the ability to grow in this challenging environment.
https://www.sovryn.app/blog/sovryn-investor-update-nov-2022

[UmerIdrees]

Hope there will be a surprise from the team so that it can make Sovryn great again, until now still holding Sovryn and I hope the price in August can reach $ 1, unfortunately when the market is rising these few days but Sovryn looks normal even red.

August already passed and sovryn was even doing the opposite thing like it was dropping to the below 50 cents sub. People didn't need this token anymore. Trading in the centralized exchange site is much more preferable these days. More features and friendly users.
The dead for sovryn will come very soon. The daily volume looks so garbage as it has very very small daily trade volume. This must be a shame for a project that collected so much btc

So how about those investors who trusted this project and bought Sovryn for 23 dollars 
Should we consider this money lost ad price is now trading even less than 20 cents and there is no hope to rise at least for now? The only hope is that it may gain hype in next bull run but we are not sure what will be price action for this coin in the bull market.

Does anyone know why this project is 98% low from its all time high or is it just the bear market affect?

[koang]

Does anyone know why this project is 98% low from its all time high or is it just the bear market affect?

I think the early investor whales constantly dump and tank the price.
And now all the emotional investors are crying and getting angry.
Hopefully, a shitty price doesn’t detract from building on zero and everything else going in the right direction
Soon we will see if this has a real future

[koang]

Zero Labs experiment and next steps

Zero has seen steady growth since its launch, even as the wider crypto-economy has been contracting.

After observing Zero’s steady and organic growth, the Zero developers have decided that it is time
for the protocol to graduate from Sovryn Labs and be released to the general public.

Check out the Sovryn blog for a recap:
https://www.sovryn.app/blog/results-of-zero-labs

[royalfestus]

The name SovrynBTC keeps popping up everywhere, and I'm not sure what it is. In the midst of the bear market, many investors believe that the token management team didn't manage it very well and allowed such a crash in price. In light of the notion around the platform, what are the chances that others altcoins will prosper in the months to come? What significance does the project's success have to the amount of bitcoin raised again?

[koang]

The Zero analytics dashboard.

The Zero analytics dashboard provides current and historical information on key metrics related to the Zero protocol.
This new tool tracks important information about the Zero protocol on Sovryn all in one place.
With this tool, users can assess their own positions and gain valuable insights into the health and performance of the protocol.
https://sovryn.com/all-things-sovryn/zero-analytics-dashboard-a-new-tool-for-zero-users

[Unbunplease]

Many have heard about the problems with usdc and dai (no matter what anyone says, usdt is the best option at the moment, in my opinion). Due to these events, the deposit of these assets to XUSD at the smart contract level has been suspended. so be careful and better refrain from any transactions with SOVRyn for a few days.

[koang]

Many have heard about the problems with usdc and dai (no matter what anyone says, usdt is the best option at the moment, in my opinion). Due to these events, the deposit of these assets to XUSD at the smart contract level has been suspended. so be careful and better refrain from any transactions with SOVRyn for a few days.

Yep. USDC and DAI Deposits were temporarily Paused. USDC and DAI have lost their peg.

This kind of thing will be a constant concern because USDT and USDC are rooted in centralized fiat finance. Stablecoin Circus.
The best option to hold dollar value in the crypto sphere is ZUSD minted on SovrynBTC, overcollateralized entirely by bitcoin.
Stablecoins backed by bitcoin will be taking over as a secure store of value. Zusd is strong

[disconnectme]

I don't know about others and I am not here to spread FUD, but to my surprise, Sovryn has not leaved up to the expectation or the hype. It was the best thing to happen to BTC then and the community was so excited then, look at the STX ecosystem and the Rostock ecosystem, the difference is clear as day. I think they need to look into this and restore the excitement especially now that the halving is coming next year and capitalize on this

[UmerIdrees]

I don't know about others and I am not here to spread FUD, but to my surprise, Sovryn has not leaved up to the expectation or the hype. It was the best thing to happen to BTC then and the community was so excited then, look at the STX ecosystem and the Rostock ecosystem, the difference is clear as day. I think they need to look into this and restore the excitement especially now that the halving is coming next year and capitalize on this

Sovryn Project was thought to be the first ever project wich bring DeFi to the bitcoin but it failed completely. I told before that invested in this project due to this hype and still holding my tokens at a 99% loss.  
As per my experience, none of the altcoins projects are sustainable and if you invest in any altcoins, exit it at the project and do not hold them for long term thinking they can make you a millionaire.

I am just waiting for the next bull season and hope the price will rise again and I may sell my SOV coins at breakeven (which seems impossible) or at a minimum loss.

[TastyChillySauce00]

I don't know about others and I am not here to spread FUD, but to my surprise, Sovryn has not leaved up to the expectation or the hype. It was the best thing to happen to BTC then and the community was so excited then, look at the STX ecosystem and the Rostock ecosystem, the difference is clear as day. I think they need to look into this and restore the excitement especially now that the halving is coming next year and capitalize on this

Stupid team that thoughts if marketing and exposure was not important for the project. Only a few people that used this dapps. There's no proper development progress happen with this one. Lowliquidity, a few users.

there's no movement in sovryn. It never be listed in the new exchange site. The dev was very greedy for not spend money to be listed on at least a good exchange site.

CEX has bunch of users compared with this platform. No cex no adoptions. I just say based on the fact.