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Author Topic: Anyone Who Still into SOVRYN?  (Read 115 times)
cabalism13
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July 19, 2021, 04:10:08 PM
 #1

There was a huge trend on the past months on this Project but suddenly it fell down just ljke the other AltCoins who has been affected by Elons FUDs lol, still supporting the project though, I wanna know how many of the altcoiners here who has the idea or knowledgw on this project?

If you are, then what do you think you can propose to make it a hit, and come back to the rankings again?

BTW, for the Others, SOVRYN is an exchange, SOV is a Defi on Bitcoin's Side Chain (RSK)

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1642920762
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Ceyflix-Rez
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July 19, 2021, 04:14:25 PM
 #2

All eye are on Sovryn project don't get it wrong, it's one of the few projects out there I'm going to buy and store in my portfolio, I'm sure bear market will have negative impact on such altcoins, Sovryn isn't a joke unless you don't know what the project is all about, right now it's doing pretty well and it's just the beginning

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July 19, 2021, 05:03:52 PM
 #3

Unfortunately sovryn  performance during this bear market was not impressive at all, unlike other solid project who were down by -40% -50% of there ath, sov is almost like -80% or more of it's ath which is not very impressive considering the calibre of project sovryn supposedly is, to tell you the truth I was really disappointed to see the huge dump, it is like most of the investors suddenly lose faith and dump their stash, from $80.78 to $8.19, it doesn't look good imo.

One of the things I find not not good is the staking reward, it is a big joke to say the list, no wonder they took their sweet time revealing the staking reward, Am sure many stakers unstake their coins immediately the staking reward was not what they hoped for,
Another was the issue of BabelFish sale, somehow they managed to make sov irrelevant to participate in the sale, tell me why anyone would want to hold such coin with very miserly staking reward? The team are clever am sure they know what to do to bring the attention back to sovryn although first impression matters alot.

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campusnet
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July 19, 2021, 05:51:14 PM
 #4

currently, the feature being implemented is still around token staking. sovryn should soon adopt more new sales or partnership projects to be listed on the SSR network.
this is actually very profitable. RSK has very cheap transaction fees, as well as transaction speed which I think is pretty good.
I also believe SOV definitely has the potential to grow again. this is not like a meme project promoted by Elon.

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July 19, 2021, 06:06:22 PM
Last edit: July 19, 2021, 06:33:08 PM by DOH!
Merited by irfan_pak10 (3), cabalism13 (1)
 #5

There was a huge trend on the past months on this Project but suddenly it fell down just ljke the other AltCoins who has been affected by Elons FUDs lol, still supporting the project though, I wanna know how many of the altcoiners here who has the idea or knowledgw on this project?

If you are, then what do you think you can propose to make it a hit, and come back to the rankings again?

BTW, for the Others, SOVRYN is an exchange, SOV is a Defi on Bitcoin's Side Chain (RSK)
Yes, I am using Sovryn - Defi for bitcoin.  I take part in a series of community calls and listen to any events, I observe them.  I have sov deposit for 6 months.  I see Yield like other similar defi vulnerabilities, dumping attacks when getting 10% SOV, it's persistent.  they intentionally attack/stage Fud for a Uniswap swap.  It doesn't have to happen, everything slips out of the process with a stub.  The rapid growth of the IMO community from BlockchainWhispers leaves investors hungry for profits.  It accidentally went against the trend of SoV, It slipped off the rails but I kept them.
Sov has only been rolling for about 3 months.  The team layout is incomplete, the foundation is still incomplete.  But it was that excessive IMO that made investors "ambitious", quick benefits... it put other investors' psychology under great pressure.
Looking at the defi on the polygon, a series of runs from first to last with pressure and mentality to get Rekt, this is the mentality of shit defi.
BayAngelo
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July 19, 2021, 06:12:00 PM
 #6

Maybe you have to wait for another bull run to find out the faith of Sovryn. what happened to Sovryn is the same thing that happened to other altcoins during this bear market. some token failed below recommendation. some token looses 90 to 80% of what they gained during the bull market. it is the ting about altcoin. for me, I think this is the time to go research on projects with long-term prospects.

Koro-Sensei
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July 30, 2021, 06:54:16 AM
Last edit: July 30, 2021, 08:46:54 AM by Koro-Sensei
 #7

There was a huge trend on the past months on this Project but suddenly it fell down just ljke the other AltCoins who has been affected by Elons FUDs lol, still supporting the project though, I wanna know how many of the altcoiners here who has the idea or knowledgw on this project?

If you are, then what do you think you can propose to make it a hit, and come back to the rankings again?

BTW, for the Others, SOVRYN is an exchange, SOV is a Defi on Bitcoin's Side Chain (RSK)
I am one of the believers. The problem exist when you guys goes to uniswap and not to CMC or Coingecko first. It was not a good move though for we as sovryn should prioritize the use of our own exchange. The eth bridge should only bring ETH to the platform not SOV to other platform. Bots are probably draining the liquidity there which is probably bad for our SOV. Another thing which is already addressed was staking rewards. I like the SIP 24 concept. I hope SOV could go back to where it should be.

JillianTaft
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July 30, 2021, 07:10:07 AM
 #8

Sovryn runs on the Rootstock (RSK) sidechain. What I like about SOV: their tokens are mainly used for governance, you don't need it to use the platform. That is honesty and modesty! It already has very good features, and I can send my BTC directly to it. In fact, it seems more like "DeFi on Bitcoin" than Defichain.
Henrobakkara
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July 30, 2021, 10:59:48 AM
 #9

Unfortunately sovryn  performance during this bear market was not impressive at all, unlike other solid project who were down by -40% -50% of there ath, sov is almost like -80% or more of it's ath which is not very impressive considering the calibre of project sovryn supposedly is, to tell you the truth I was really disappointed to see the huge dump, it is like most of the investors suddenly lose faith and dump their stash, from $80.78 to $8.19, it doesn't look good imo.

One of the things I find not not good is the staking reward, it is a big joke to say the list, no wonder they took their sweet time revealing the staking reward, Am sure many stakers unstake their coins immediately the staking reward was not what they hoped for,
Another was the issue of BabelFish sale, somehow they managed to make sov irrelevant to participate in the sale, tell me why anyone would want to hold such coin with very miserly staking reward? The team are clever am sure they know what to do to bring the attention back to sovryn although first impression matters alot.
I totally agree with you on everything, a couple of things were off about what was going on there. They really tricked the investors with that staking thing and the penalty that was eventually charged for unstaking when investors realized it wasn't worth it and the price was dipping like mad. As you said, I think the teams and their affiliates know what to do to get the project on track again and I think they can because I believe the project kinda looks good but I really don't know why it dropped that much from its ATH.


deathcode
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July 30, 2021, 02:45:48 PM
 #10

I even started a separate wallet and store some tokens there. I managed to sell most of it before the fall. I still have faith in the project and look forward to more popularization, since the project is really new and with new technologies, it's a pity that not everyone understands this.

why don't you stake on their platform if you have it instead of just keeping it in your wallet?
a very good start for the actual sovryn project. but the momentum dump of the market took it to the bottom and failed to recover quickly.
If you want to restore market prices and investor confidence, I think there should be more projects and trades on the platform.

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maju69
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July 30, 2021, 03:07:34 PM
 #11

There was a huge trend on the past months on this Project but suddenly it fell down just ljke the other AltCoins who has been affected by Elons FUDs lol, still supporting the project though, I wanna know how many of the altcoiners here who has the idea or knowledgw on this project?


Another altcoin hit based on a certain time that who knows when it could return in a good trend. Likewise with SOV which is like drowning in the sea of the Bermuda triangle and destroyed among other altcoins. Therefore, altcoin holders are not advised in the long term, to avoid this kind of thing in the future.
It is not easy to beat Fud as a tool that has had a huge impact on the altcoin market. Only whale-sponsored coins can survive the mysterious crashing waves of the beach.


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July 30, 2021, 04:19:55 PM
 #12

There are ups and downs for everyone, so it's all temporary and sovryn will still show new ATH, because they are the first of their kind, perhaps new projects will be launched on this protocol or chain and this will give an impetus to new victories.
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