[ANN] Sovryn - Brings DeFi to Bitcoin

[royalfestus]

Am not surprised with the dump back to listing price am only surprised that the team stop allowing projects and crowdfunding for new ones. Could it be that the team is only active when the market is bullish? They also need new idea asides Defi for listing coins

[koang]

Limit Orders on Sovryn

Sovryn now supports limit orders for spot trading orders. Margin limit orders are coming very soon!
The limit order functionality is decentralized and trustless. Autonomous entities called ‘filler bots’, following the parameters you set, fill the orders.
They are incentivized to do so via a fee-sharing mechanism.

We’d like to point out that for those of you who are technically savvy, you can set up and run a filler bot.
However, we do not provide technical support for this and all risk is placed on the individual.
If this is something you have the technical know-how for and would like to explore, follow the link to the repo here:
https://github.com/DistributedCollective/limitorders_relayer

[koang]

SIP-0048 - Strategic Investment in Sovryn

General Catalyst is proposing to lead an investment round alongside other
strategic investors who share in Sovryn’s mission and wish to partner in the long term

With 99.78% in favor and 0.22% against, it is clear that
General Catalyst will be leading an investment round alongside other strategic investors!

Read the full proposal here:
https://forum.sovryn.app/t/sip-0048-strategic-investment-in-sovryn/2586

[ololajulo]

Rbtc has a longtime relationship with bitcoin and also able to keep the price very close to BTC for many years but I wonder how it has been quietly mentioned with Bitcoin over the years. This should have help coins like sovryn, babels and the rest on the blockchain through the market. Unfortunate Rbtc trade on only 2 top exchanges and the team is doing nothing about it.

[koang]

Join the waitlist for Zero!

The waitlist for the Zero private beta is now live! Visit the Zero waitlist registration page to register,
secure your place in the queue, and be amongst the first to try out the 0% interest, bitcoin-backed loan.
‍
Zero is an entirely new financial instrument—0% interest loans using bitcoin collateral
without a centralized custodian, with the security of a merged-mined bitcoin sidechain (RSK).
Using Zero, bitcoiners can access the value of their bitcoin without relinquishing ownership or giving custody to a third party.
https://live.sovryn.app/zero

[koang]

Perpetual Futures are LIVE on Sovryn!

Another major milestone for Sovryn and the Bitcoin DeFi ecosystem.
We’ve launched Sovryn Perpetuals on Sovryn Labs, a product playground where we release experimental new products and features.
We’re starting with a BTC/USD perpetual, with margin in BTC, but we’ll be adding more assets as this product matures.
We hope to have a gold perpetual soon

Our mission is to provide anyone, anywhere with the tools for financial self-sovereignty.

Add another string to your Bitcoin bow!

https://www.sovryn.app/blog/introducing-perpetual-futures-trade-any-asset-using-bitcoin

[koang]

ZERO - How to Never Sell your Bitcoins Again!

Let’s take a look at Zero, the newest protocol developed by the Sovryn Team
Leveraging RSK Technology, a Bitcoin sidechain for smart contracts.
One can access the value of their BTC today without resigning their future valuation.
.
A simple overview of the system analyzing all the different aspects

The first video about Zero, Exciting stuff!
https://www.youtube.com/watch?v=jUXkaejihxQ

[poodle63]

Am not surprised with the dump back to listing price am only surprised that the team stop allowing projects and crowdfunding for new ones. Could it be that the team is only active when the market is bullish? They also need new idea asides Defi for listing coins

The team was so garbage. It's like a dictator. It could be true. Sovryn price didn't even moving once another token in the market is slowly moving up again. This stupid mechanism that let supply to inflate so fast was hurting the token so much. The team didn't even wanna spend money to be listed on big exchange site. They are always seeing this as a thing that didn't need to be done. This crap may die soon. The price is very very low. It's purely pump and dump based on hype.

[royalfestus]

Am not surprised with the dump back to listing price am only surprised that the team stop allowing projects and crowdfunding for new ones. Could it be that the team is only active when the market is bullish? They also need new idea asides Defi for listing coins

The team was so garbage. It's like a dictator. It could be true. Sovryn price didn't even moving once another token in the market is slowly moving up again. This stupid mechanism that let supply to inflate so fast was hurting the token so much. The team didn't even wanna spend money to be listed on big exchange site. They are always seeing this as a thing that didn't need to be done. This crap may die soon. The price is very very low. It's purely pump and dump based on hype.

When you have a dump at 99% in the bear, the token gets difficult to pick up and very hard predict in the next cycle. Defi is having a very bad experience and I dont think the Defi features in ethereum can revive the idea after the merge. If ethereum cant definitely not rootstock, so they need to come out with new idea, however, using the token as transaction fee put it up. All token on sovryn do not have to Defi. SOV is on one Exchange but they came very late in the cycle to get more listing

[Semar Mesem]

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.

[makishart]

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.

I don't even think so. People didn't interested to buy this token anymore. The fact that if the price already plunged so hard. Any token that was getting this pattern will be so difficult to back again to go up. I doubt of sovryn can do another comeback in the future, Team needs more than only focusing with garbage alternative chain like RBTC.

[Unbunplease]

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.

The problem is that when the token price was high, circulation was limited. Now there are many more coins in circulation. Only burning or buyback will help bring back the previous price

[koang]

Zero: Release Notes - Aug 2022

We have two awesome updates to share with you in this month's 2nd round of release notes!
-Zero hardware wallet integration
-FastBTC RBTC > BTC limit increase

‍Previously, users could only connect to Zero using an injected web3 wallet. Now, once you’ve been onboarded from the waitlist,
you can also connect directly to Zero using your Ledger or Trezor hardware wallet.
And We’ve also increased the RBTC to BTC swap-out limit to 3 BTC. This now matches the FastBTC swap-in limit.

‍These were the top requests from the community recently, alongside other updates here:
https://www.sovryn.app/blog/zero-hardware-wallet-fastbtc-update

[Unbunplease]

https://www.youtube.com/watch?v=7t6sms8KIlY  Sovryn Zero - Own Your Future with 0% Loans. Main: " Sovryn is a non-custodial bitcoin focused DeFi dapp built on the bitcoin sidechain Rootstock/RSK. RSK is merge mined and secured by bitcoin miners through proof of work. Bitcoin is the native currency of RSK since its a bitcoin sidechain (1 RBTC: 1 BTC) which uses a highly secure decentralised  "trust minimised" PoWPeg so you can easily peg in and out securely."

[spiker777]

Zero: Release Notes - Aug 2022

We have two awesome updates to share with you in this month's 2nd round of release notes!
-Zero hardware wallet integration
-FastBTC RBTC > BTC limit increase

‍Previously, users could only connect to Zero using an injected web3 wallet. Now, once you’ve been onboarded from the waitlist,
you can also connect directly to Zero using your Ledger or Trezor hardware wallet.
And We’ve also increased the RBTC to BTC swap-out limit to 3 BTC. This now matches the FastBTC swap-in limit.

‍These were the top requests from the community recently, alongside other updates here:
https://www.sovryn.app/blog/zero-hardware-wallet-fastbtc-update

much awaited and needed updates. now users can connect with hardware wallet which gives them more security and higher limit of fastbtc will make it easier for large traders and investors to use sovryn platform with convenient. and zero interest loan feature in sovryn is really amazing. I am sure if team works properly and deliver products on time. this project have the potential to be in top 100 crypto projects of all time.

[Unbunplease]

https://www.sovryn.app/blog/zero-fixes-this-borrowing-against-bitcoin-with-zero-vs-cefi?utm_source=telegram&utm_medium=social&utm_campaign=zero&utm_content=zero+table

Zero Tradeoffs
Zero has its own tradeoffs as well. Zero charges a one-time up-front origination fee of 0.5%. This amounts to about one month or less of interest at typical interest rates. Some CeFi lenders have this charge as well; others don’t. Most of the ones that don’t have an origination fee have an early withdrawal penalty to guarantee a minimum fee regardless.

Most of Zero’s disadvantages occur when your collateral ratio is too low. If your collateral value falls below 110% of the loan value, your collateral will be liquidated. You can keep the ZUSD, but you will lose 110% of that value in collateral. Furthermore, anyone who holds ZUSD can redeem it for the equivalent value in bitcoin from the collateral of the user with the lowest collateral ratio. This doesn’t represent a loss in value, but it represents an involuntary swap of assets. The solution to both of these disadvantages is to maintain a higher collateral ratio.

Zero also has potential risk in terms of an undiscovered bug in the smart contracts that execute it. These have a strong track record as well as a record of successful audits. Furthermore, Sovryn maintains a $1M bug bounty to find vulnerabilities, and it has yet to be claimed. All these factors confirm the security of Zero.

[Unbunplease]

be careful ! Sovryn Perpetual Futures will be updated to V2! The current iteration of Perpetual Futures will be disabled on, or before, Friday 30 September at 2 PM UTC (at the latest). can read more at https://t.me/SovrynAnnouncements/992

[Unbunplease]

Zero Updates!

The Zero app has been updated with a few small changes that should make the app more reliable and easy to understand.

The term “Borrowing Fee” on the Line of Credit and Zero Statistics modules of the Zero UI, has been changed to “Origination Fee” to be in line with industry standards.

This has also been updated in the Sovryn Protocol Revenue charts and Zero documentation in the Wiki.

The Zero RSK RPC has been updated to use a faster RSK node. This should resolve an issue some users have experienced that caused the Zero app to take a long time to load.

https://t.me/SovrynAnnouncements/998

[koang]

Zero Updates!

The Zero app has been updated with a few small changes that should make the app more reliable and easy to understand.

The term “Borrowing Fee” on the Line of Credit and Zero Statistics modules of the Zero UI, has been changed to “Origination Fee” to be in line with industry standards.

This has also been updated in the Sovryn Protocol Revenue charts and Zero documentation in the Wiki.

The Zero RSK RPC has been updated to use a faster RSK node. This should resolve an issue some users have experienced that caused the Zero app to take a long time to load.

https://t.me/SovrynAnnouncements/998

The dev team has been building tools for Bitcoiners. We can spend bitcoin without selling.
Bitcoin-backed loans with no interest and no repayment deadlines. Definitely not a scam.
Zero is growing rapidly, Waiting to see the same trajectory line in Protocol Revenue Generated From Fees
And I hope Sovryn Zero integrates with third-party services for off-ramping to fiat in the future.

[bitkanu]

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