[ANN] Sovryn - Brings DeFi to Bitcoin

[Sovryn]

POMP Podcast hosts AMA live with Sovryn's Edan Yago - watch it here:

https://youtu.be/w54FjzB9bAw

[Dalib]

Sovryn have started the vote on SIP0005 - this is scheduled to complete tomorrow at 11am UTC. If successful, Genesis reservation participants will be able to redeem their cSOV tokens for SOV starting on Thursday at 3pm UTC. Watch for further updates.

Link for SIP 0005 here:
https://github.com/DistributedCollective/SIPS/blob/SIP0005/SIP-0005.md

If you are wondering what the SIP is follow this link:
https://forum.sovryn.app/t/draft-sip-x-the-sovryn-improvement-proposal-process/125
or our black paper:
https://docsend.com/view/mbhvi379crhagtwp

[abderrazak belkhir]

I wonder if metamask is the only wallet that support the RSK mainnet because when i tried to make an rBTC withdrwal from kucoin it show "dont use erc20 adress" but the adress showen in metamask is an erc20 adress...i think only the adresses that generated from metamask are compatible with the RSK network

If im wrong please clerify to me

[lobo13hf]

If im wrong please clerify to me

Your Erc20 address is the same like your RSK address but the only make it different if you must change your main net to the RSK. When you are changing the mainnet and your ERC address will be automatically converted into the RSK address and it's still the same address.

[steampunkz]

https://medium.com/sovryn/setting-up-metamask-for-sovryn-on-mainnet-cbf798ca0c9a

You can find all of detail regarding how to connect to the rsk blockchain through metamask. You can also search some messages on the sovryn telegram group regarding how you can do that dude.
It takes only a few minutes to setting your metamask.

I will be following these steps thank you for  sharing this mate, This is a big help to some beginners who like me to set up their RSK blockchain and also good for the upcoming distributions on how we can manage and find our sovryn tokens.

[Dron Pelya]

Sorry, for my question, but this situation hard to understand. If I get SOV on Metamask ETH adreess, I will not be able to send it or another ETH address (not Meatamsk)? Unfortunatelly, I'm not good known about RSK mainnet...

[JeffBrad12]

Sorry, for my question, but this situation hard to understand. If I get SOV on Metamask ETH adreess, I will not be able to send it or another ETH address (not Meatamsk)? Unfortunatelly, I'm not good known about RSK mainnet...

Im not sure about this but as far as i understand when you are signing use your ethereum wallet through metamask and then you configure your metamask to be able to connect with RSK main net and i think that you will able to send it to another address. The received should have connected to the RSK main net to make sure if the address exists. If you are sending to the ethereum address that never connects to the RSK mainnet and you will be losing your asset.
I have been observing it and it seems like that's correct.

[eXtremal]

Sorry, for my question, but this situation hard to understand. If I get SOV on Metamask ETH adreess, I will not be able to send it or another ETH address (not Meatamsk)? Unfortunatelly, I'm not good known about RSK mainnet...

Im not sure about this but as far as i understand when you are signing use your ethereum wallet through metamask and then you configure your metamask to be able to connect with RSK main net and i think that you will able to send it to another address. The received should have connected to the RSK main net to make sure if the address exists. If you are sending to the ethereum address that never connects to the RSK mainnet and you will be losing your asset.
I have been observing it and it seems like that's correct.

I don't know about this problem, but what if I made a transaction beforehand a few moments later set to set the connection to RSK .. will it disappear? and can't read previous transactions? I think it should be read

[Sovryn]

Sorry, for my question, but this situation hard to understand. If I get SOV on Metamask ETH adreess, I will not be able to send it or another ETH address (not Meatamsk)? Unfortunatelly, I'm not good known about RSK mainnet...

You must make sure that you change from ETH mainnet to RSK mainnet within metamask, to be able to interface with SOV.
There are other wallets that support RSK mainnet like Nifty, Mathwallet and Liquality - but Metamask is the most commonly known.

One thing to watch with Metamask is always check your transaction fees - they don't always autofill

[bitgov]

I am thinking of joining the Sovryn bounty campaign. So I will ask you directly, because I can see that there are many doubts.

If I have an ERC20 address created in Myetherwallet, will I receive a reward in SOV to that address, or not?

[DutchFinity]

I am thinking of joining the Sovryn bounty campaign. So I will ask you directly, because I can see that there are many doubts.

If I have an ERC20 address created in Myetherwallet, will I receive a reward in SOV to that address, or not?

SOV is sent through the RSK network. However the MetaMask RSK wallet address corresponds to your MetaMask ERC20 wallet address. So the only thing you need to do is configure the RSK network in your MetaMask. Here's a guide for that: https://developers.rsk.co/wallet/use/metamask/

[Sovryn]

I am thinking of joining the Sovryn bounty campaign. So I will ask you directly, because I can see that there are many doubts.

If I have an ERC20 address created in Myetherwallet, will I receive a reward in SOV to that address, or not?

Not until you go through the steps to connect your metamask to RSK mainnet.
You will not be able to receive SOV onto the Ethereum mainnet (which is likely your default position for metamask)
You will need to connect to the RSK mainnet which is simple enough.
When you want to use ETH again you switch between RSK and ETH mainnets easily with one click. Infact in my expecrience the wallet often prompts you that you are on the wrong blockchain if you forget to switch

[terciduk123]

If someone still doesn't understand / is confused about how to connect ERC20 wallet with RSK mainnet via metamask, you just need to read some comments before this comment. there are already several article links that will definitely help you a lot.

Important news for cSOV holders.
cSOV holders can redeem SOV starting at 15:00 UTC on Thursday, February 18th.
read more: https://sovryn.app/blog/genesis-reservation-update-csov-will-soon-be-redeemable-for-sov-1-1.html

[eXtremal]

I am thinking of joining the Sovryn bounty campaign. So I will ask you directly, because I can see that there are many doubts.

If I have an ERC20 address created in Myetherwallet, will I receive a reward in SOV to that address, or not?

Not until you go through the steps to connect your metamask to RSK mainnet.
You will not be able to receive SOV onto the Ethereum mainnet (which is likely your default position for metamask)
You will need to connect to the RSK mainnet which is simple enough.
When you want to use ETH again you switch between RSK and ETH mainnets easily with one click. Infact in my expecrience the wallet often prompts you that you are on the wrong blockchain if you forget to switch

Are we not planning in the future to make it easier for the community to make their own wallets to make it easier for users? because I read there are so many mistakes in the community to add the RSK network, but for now it's easy enough to set up the connection

[Lunar Crank]

I am thinking of joining the Sovryn bounty campaign. So I will ask you directly, because I can see that there are many doubts.

If I have an ERC20 address created in Myetherwallet, will I receive a reward in SOV to that address, or not?

SOV is sent through the RSK network. However the MetaMask RSK wallet address corresponds to your MetaMask ERC20 wallet address. So the only thing you need to do is configure the RSK network in your MetaMask. Here's a guide for that: https://developers.rsk.co/wallet/use/metamask/

So we have to do it before the SOV will be send. In other case the transaction will fail, and we will lose tokens... Am I right? Anyway, thanks for futher unsvers.

[Digital_Seung]

So participants already can redeem their reserved cSOV tokens for SOV or redeem cSOV for RBTC if they decide to exit the system?

[DutchFinity]

So we have to do it before the SOV will be send. In other case the transaction will fail, and we will lose tokens... Am I right? Anyway, thanks for futher unsvers.

No, the RSK address is already there. You just need to setup the RSK feature at Metamask to access the address. You can do that whenever you want.

[bitgov]

So we have to do it before the SOV will be send. In other case the transaction will fail, and we will lose tokens... Am I right? Anyway, thanks for futher unsvers.

No, the RSK address is already there. You just need to setup the RSK feature at Metamask to access the address. You can do that whenever you want.

Ok, so the ERC20 address works for both networks. Just to see what we have in the RSK network (SOV token) we need to switch it in Metamask and the same way we have to do to see other Ethereum tokens? Correct?

[JeffBrad12]

Ok, so the ERC20 address works for both networks. Just to see what we have in the RSK network (SOV token) we need to switch it in Metamask and the same way we have to do to see other Ethereum tokens? Correct?

That's correct. I think that you must also noted this if your ERC20 address will be activated on the RSK mainnet when you have been sending something to your wallet just like RBTC. It doesn't require a lot of rbtc.
Your address will be showing on RSK explorer when you have ever deposited RBTC to your walelt.
You must have noted this as so many people are still confusing about the correct procedure to use their wallet on RSK mainnet.

[Dalib]

Please note to your deposit

Deadline to Redeem BTC pledged during the Origin Pre-Deposit is 17:00 GMT on Monday, 22 February 2021. Simply click on the "Redeem BTC" button on https://origin.sovryn.app/

Everyone registered for a redemption will be put on a list and their deposited BTC will be redeemed.
Anyone else will be able to claim their SOV with their deposited BTC