[ANN] Sovryn - Brings DeFi to Bitcoin

TastyChillySauce00

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Quote from: disconnectme on March 25, 2023, 01:38:04 PM

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.

UmerIdrees

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Quote from: disconnectme on March 25, 2023, 01:38:04 PM

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. Sad

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.

disconnectme

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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

koang

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Quote from: Unbunplease on March 11, 2023, 07:24:33 PM

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

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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

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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

royalfestus

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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

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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

koang

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Quote from: UmerIdrees on December 01, 2022, 02:17:45 PM

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

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Quote from: bitkanu on September 25, 2022, 07:05:14 PM

Quote from: Semar Mesem on August 13, 2022, 06:06:31 AM

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 Sad

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

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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

koang

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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/

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Quote from: Semar Mesem on August 13, 2022, 06:06:31 AM

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

koang

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Quote from: Unbunplease on September 20, 2022, 12:27:31 PM

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.

Unbunplease

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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

Unbunplease

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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

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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.

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Quote from: koang on August 27, 2022, 02:07:04 PM

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.

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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."

koang

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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

Topic: [ANN] Sovryn - Brings DeFi to Bitcoin (Read 6682 times)