[ANN] Sovryn - Brings DeFi to Bitcoin

[NotHatinJustTrollin]

https://live.sovryn.app updated w/ optimisations & features including:

-improved UI / chart performance via @tradingview
 
-5x leverage for Margin Trading!

-New Spot Trading page!

Click update & refresh the page to use the changes!

Release notes: https://github.com/DistributedCollective/Sovryn-frontend/pull/1104

[Sovryn]

I think sov will have to be trading on cex exchange before they can list in cmc I think,

No, it's already there https://coinmarketcap.com/currencies/sovryn/ with untracked status. Do not have to be a CEX to be listed in CMC, a dex that has been registered with CMC is more than enough reason to be listed there.

The API which CMC need to track SOV price and market activity is being developed. soon it'll be deployed

[JeffBrad12]

I think sov will have to be trading on cex exchange before they can list in cmc I think,

No, it's already there https://coinmarketcap.com/currencies/sovryn/ with untracked status. Do not have to be a CEX to be listed in CMC, a dex that has been registered with CMC is more than enough reason to be listed there.

The API which CMC need to track SOV price and market activity is being developed. soon it'll be deployed

Glad to see that. I hope that will be finished as soon as possible. I can check the price for sovryn easily through mcap. Do you have a plan to release the staking calculator? I hope you will also consider this. I can calculate the reward before i wanna stake more SOV.

[bitgov]

I connected my wallet with Metamask and I don't know how to move between RSK Mainnet and Ethereum network.. In other words - Can SOV be converted into crypto that is easily convertible to fiat?

Or - What is the easiest way to convert SOV to fiat? Is it possible?

[NotHatinJustTrollin]

Make way for #Sovrython! A $500k @gitcoin Hackathon to Ignite the Sovryn Ecosystem and pushes Bitcoin-native DeFi into new territory https://www.sovryn.app/blog/make-way-for-sovrython-a-500k-gitcoin-hackathon-to-ignite-the-sovryn-ecosystem

I connected my wallet with Metamask and I don't know how to move between RSK Mainnet and Ethereum network.. In other words - Can SOV be converted into crypto that is easily convertible to fiat?

Or - What is the easiest way to convert SOV to fiat? Is it possible?

You can swap SOV to rBTC. After that, send rBTC to Kucoin exchange, trade rBTC/BTC and BTC/USDT

[necromastery]

I connected my wallet with Metamask and I don't know how to move between RSK Mainnet and Ethereum network.. In other words - Can SOV be converted into crypto that is easily convertible to fiat?

Maybe this step could help you to do that https://developers.rsk.co/wallet/use/metamask/ After that, you just need to swap the main network in metamask. Just need to find that button.

So far there is no shortcut to exchange tokens from RSK to fiat as quickly as possible, it must go through a process that takes time. Need kucoin actually.

[Bitstar_coin]

I connected my wallet with Metamask and I don't know how to move between RSK Mainnet and Ethereum network.. In other words - Can SOV be converted into crypto that is easily convertible to fiat?

Or - What is the easiest way to convert SOV to fiat? Is it possible?

You can also use the rsk bridge platform to bridge your rbtc, rusdt to eth or some other currency, check this link Rsk bridges with Ethereum, this can help you bridge your rbtc or rusdt to other Ethereum network currency. But note it requires a little waiting time according what some people who have already use it said, I haven't use it because am currently staking my sov.

[X-ray]

I connected my wallet with Metamask and I don't know how to move between RSK Mainnet and Ethereum network.. In other words - Can SOV be converted into crypto that is easily convertible to fiat?

SOV can be converted into the Rusd and this can be converted into the USDT through RSK token bridge. that will need at least a few days until you will have received your USDT. You should be funding your RSK wallet with some RBTC to be able to swap into the sovryn platform. If you wanna get it much more easily and you can try to sell it for RBTC but this will be very volatile. it's better to keep it into the RUST and then when the market is stable convert it into the RBTC and then send to the kucoin.

[argakiig]

Sovryn goes brrrrrrrrr

The 75k $SOV / $BTC Liquidity Pool #LootDrop script has been deployed! 

Rewards are visible in https://bitocracy.sovryn.app/stake

BONUS:

You will see higher rewards than you expected b/c the Sovryn Multisig which provided initial liquidity was removed from the calcs.


THIS IS NOT THE FEE REWARDS DISTRIBUTION, IT IS ONLY FOR LIQUIDITY PROVIDERS

[NotHatinJustTrollin]

Time to test upcoming features again!

1. Liquidity Mining

- Go to https://test.sovryn.app/
- under “Finance” menu select “Liquidity mining”
- in liquidity mining page, if user was provided liquidity to the amm pools already: all pools will be dimmed and disabled from interacting, text asking to transfer liquidity to new pools will appear above pool list - clicking transfer button will open dialog with list of pools that needs to be transfered - user will need to confirm transfer for all of them and wait for transactions to be confirmed so new pools would be undimmed and interactions enabled
- select a pool and deposit to it
- pool deposit amount should be available instantly after tx is confirmed, profits may have some delay
- wait for some time, at least until you see some positive amount in the pool rewards column - you can try withdrawing then
- open “Rewards SOV” page from “Finance” menu
- See if claimable SOV amount is same as the one that was suggested when withdrawing liquidity (can be different a little bit)
- Claim these tokens, after tx confirmed go to Portfolio -> Vested Assets and confirm that Locked SOV balance has increased


2. ETH Token Bridge + pool
https://bridge.test.sovryn.app/ - eth bridge one way only (why rsk eth -> ropsten eth doesnt work not clear yet)

Test the complete flow:
1. transfer ETH over the bridge
2. receive aggregated ETH and if the ETH amount is over 0.025 (also a 0.0001 RBTC airdrop if the wallet has no rbtc in it already)
3. deposit into the ETH pool and/or swap the ETH

[irfan_pak10]

Sovryn is offering a loot drop of $1m of SOV to liquidity providers of the SOV/BTC pool. That's $1m of rewards in just one week.

https://www.sovryn.app/blog/prepare-yourself-for-the-awakening

[Lunar Crank]

It was naturally when SOV price was decreasing during market falling. But why today is SOV price still 34$? All market are growing, most of all coins prices are showing 10-30% increasing. But not SOV price.

[JeffBrad12]

It was naturally when SOV price was decreasing during market falling. But why today is SOV price still 34$? All market are growing, most of all coins prices are showing 10-30% increasing. But not SOV price.

It's growing slowly. You can't compare sov with another coin as it's not yet available on the CEX and that makes the price of SOV will be less volatile compared with another coin.

There's a new announcement from YAGO if we will be having NFT platform on SOV https://twitter.com/EdanYago/status/1397500938449993728

There will be more good news come from sovryn development.

[Dalib]

RideTheBear by providing liquidity to the ETH/BTC pool and earn 1000% yield in $SOV!

35k in SOV will be distributed for providing liquidity for this 7 day LootDrop

https://www.sovryn.app/blog/over-1000-yield-for-eth-btc-lp-s




Calling all Sovryns!
Join our weekly community call and get the latest news on Sovryn, including SOV liquidity mining & ETH bridge

Date: Thursday, May 27
Time: 3pm UTC
Place: Community Voice Channel in Discord.

[NotHatinJustTrollin]

With the addition of the ETH/BTC pool, the TVL on the Sovryn DeFi platform now exceeds $44.5M , or 1,140 BTC

[necromastery]

This  is indeed a laudable achievement,  this project will widening the net for those who want to participate in defi but want security and immutability of bitcoin.  I congratulate you on this milestone and hope your pre sale become successful!

What pre-sale? Please do not spam this thread.

"NOW we are offering a final chance to reserve your spot in the Origins pre-sale, limited to 2m tokens."
I saw this on the front page thinking pre-sale  was going on! I guess I was too excited to see none of that is happening at the moment!

Dude that was in the beginning of this thread, 4 months have passed, now it is over. People nowadays discuss about developments and prices of sovryn in the market. I think you should learn from this, you should read the latest information about a project, not at the beginning.

[asriloni]

"NOW we are offering a final chance to reserve your spot in the Origins pre-sale, limited to 2m tokens."
I saw this on the front page thinking pre-sale  was going on! I guess I was too excited to see none of that is happening at the moment!

All of the sale already ended and then it looks like this thread is not yet updated. If you wanna get the latest news about sovryn and it's better for you to see the announcement that already brought by some people to this thread. Some people above me already given the new update from sovryn.
If you are reading everything properly and some people have told you about the new updates. I guess you are seeing it from the title of this thread

[NotHatinJustTrollin]

RideTheBear Want to buy Bitcoin permissionlessly with your ETH?

Bring it over Sovryn's Bridge & swap for it with the LOWEST DeFi transaction fees anywhere & we'll gift you 0.0001 BTC for transaction fees.

Then, put it in the eth/ btc  & earn SOV yield. https://wiki.sovryn.app/en/sovryn-dapp/bridging-and-supplying-eth-to-the-amm

[NotHatinJustTrollin]

The Ethereum bridge, Arbitrum testnet, 🔥🔥🔥bars

Check out the recording of this past week's community call ☄️

youtu.be/-hNt630xHbU




With the inflow of $10,148,041 of Ethereum over the last 3 days for the ETH/BTC pool, the TVL in Sovryn's AMM pools now stands at $40,268,378 of assets choosing to RideTheBear and earn $SOV yields with Sovryn.

Current APY ETH/BTC: 319.27%
Current APY SOV/BTC 476.43%

[NotHatinJustTrollin]

Defiant integrates Sovryn’s AMM brought to you by Sovryn

Mobile wallet company Defiant has integrated Sovryn’s AMM, enabling users to swap RBTC, rUSDT, DOC or BPRO for SOV tokens in a single tap, permissionlessly.

Defiant is a non-custodial mobile wallet & P2P market which integrates the Bitcoin, Ethereum and RSK ecosystems and allows users to explore DeFi protocols by using WalletConnect.

Swap like a pro!

Getting SOV has never been easier. All you need is a Defiant wallet installed on your mobile to access the token swap feature. Remember you need some rBTC to pay the RSK network fees. However, you won’t need to set the gas fees as required by desktop wallets. Defiant have automated it, for a seamless experience.

Many other Sovryn swaps are also integrated into the app, so you can trade between rBTC, SOV, DoC, BPro and rUSDT with just a few taps on your phone.


Got SOV, now what?

Take a look at Sovryn’s staking feature https://bitocracy.sovryn.app/stake. Staked SOV will immediately start earning you a portion of the platform trading fees. Revenues are distributed on an ongoing basis to those actively staking, in relation to their voting weight.

As a Defiant user, you can use WalletConnect to link to the Sovryn dApp and start earning straight away 🚀

Stay Sovryn!