Topic: [ANN] Sovryn - Brings DeFi to Bitcoin - page 10. (Read 6871 times)

Regarding inaccurate Circulating Supply numbers displayed on live. sovryn. app

Users have raised concerns in being unable to calculate the Circulating Supply of SOV after the number displayed in the dapp did not update after the most recent monthly vesting unlock event of Genesis and Origins tokens. The problem has been identified and is described below:

- When the Origins vesting contracts were created, they did not emit a VestingCreated event
- The VestingCreated events are used in the database to identify all vesting contracts
- Therefore, it is not yet possible to distinguish between origins vesting contracts and user wallets
- It is also not yet possible to count them into the circulating supply calculation, which the dapp displays.

Our Data Mage is now writing a script to bring the correct numbers into the database so they can display correctly in the dapp. Thank you to all the users who identified this issue, and for your patience while the correction is being scripted, tested, audited, and then deployed. Further updates will be announced when progress has been made.

Check out this Meetup: @SovrynBTC platform system for bitcoin lending, borrowing and margin trading

https://t.co/UgGrZja4JV

The TVL for SOV swaps (rBTC/SOV and SOV/rBTC) on Sovryn in the last 24 hours was $5.55M, with a cumulative volume of $21,48M for the last six days.

For. a. token. not. available. on. any. #DeFi. #CEX. or #DEX. except. https://t.co/xC9WpVvptD



In the last 6 days, the # of wallets staking in bitocracy has grown from 196 to 917,

the amount staked which will be earning a % of fees generated has grown from 14,750.68 to 101,973.17 SOV.

That's approximately $7.1M at today's SOV price .

source:https://t.co/UUrmm73z8R



Clarification: Chart one is Total Volume, not Total Value Locked (brainfart), and Chart two is only showing the day on day growth numbers, not the total number of wallets staking to date

The script to move SOV for the $50k BTC/USDT Pool Loot Drop from the vesting contract to user's staking contract has been deployed.  Users should see their SOV within the next 6 hours. If you do not see your SOV, open a support ticket at https://sovryn.freshdesk.com

Update on the SOV reward distribution timings for the 50k BTC/USDT amm pool.

Users will not see their SOV rewards on the dapp until sometime tomorrow.

Long version:
Once again, we missed a detail while developing at hyperspeed in a production environment. No funds are at risk, only a challenge for users' patience to GET THEIR SOV.

The script that was deployed did not include an important variable - disbursal from the individual vesting contracts being created for each user need to be transferred to the staking contract, in order that they can be displayed in the UI of the dapp. This means that not a single user can "see" their SOV rewards.

As explained in the announcement above, the vesting script needs about 12 hours to complete. The choice that the dev team faced when realizing that the initial vesting contracts were not displaying rewards in the dapp was between:

1. stopping the script, and adding the variable, and running it again.
2. letting the script complete, and then running a second script to transfer the rewards from the vesting contract to the staking contract.

Both choices would have resulted in delays to users "seeing" their sov rewards in the dapp. The team chose to let the initial script run, then check for any errors (missed contract creation), then to process any of those by hand which threw errors to make sure of a 100% success rate, and only then to deploy the second script moving the sov from the vesting contract to the staking contract.

The second script that will be run to move from vesting to staking will, however, have an optimization proposed by one of the devs which allows the script to run four transactions at a time instead of one by one as was the case with the initial script deployed. This will decrease the time needed from 12 hours to 3 hours.

Once again, thank you for your patience and trust while we develop Sovryn in realtime with all of you as betatesters.

Devs have started running the SOV rewards distribution script for the 50k BTC/USDT amm pool. 25k for the rBTC LPs and 25k for the rUSDT LPs

The script will take a minimum of 12 hours to complete because it has to create 1094 individual vesting contracts.

Therefore, we have no way of telling an individual user exactly when THEIR portion of the rewards will appear on their own wallet - so we appreciate your calm patience as this process completes

Another ATH already broken again by sovryn and the current ATH was around $77 while the price is a few dollars less than it. 100$ will be reached by sovryn maybe in the next days.
The team is still developing various features to be available on the sovryn. The cex listing could be a big bet for anyone. Sovryn can enter into the major market when it has a very good development progress and so far the development is very stable. Some people were even putting more and more money to buy SOV as their long term investment. A good signal for sovryn already appeared and this coin will be going to the moon very soon.

A basic fundamental value of the token could be estimated if we'd know the staking APY. The devs said that soon we will be able to see that on the UI. I think it would be useful to see the total voting power as well. However that calculation won't take into account the growth potential. Similar older platforms have much bigger trading volumes than we see now on Sovryn. So we can conclude that there is plenty of room for growth.

We cannot even guess the value of the SOV token as it is still in the early stages.
Not currently listed on any other exchange and only trading on own platform and there is only a small group of people who knows about Sovryn.
So I believe the real fun will start when it will be listed on other exchanges so that many people will join our club:D

SOV is still trading on its platform. There will be lots of good news come from the developers. I can't even wait sovryn to be traded on uniswap.
Sovryn will also start to add more ethereum and ethereum assets on its platform very soon.
Exilled as sovryn admin on telegram group has been conducting vote to know which erc token that must be added into the platform very soon.
$100 possible.

Now SOV price is 70$ per coin. ATH for this moment was 71$ per coin. If earlier talking about price 100$ per SOV made me some doubts, today I see that such score could be reached soon.

FastBTC is now operating again after developers identified and corrected issues relating to old transactions not getting processed due to the recent optimization deployment, which configured a new multisig for bridging transactions.

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More than a clickbait title, this extremely well researched & produced segment by @graham Invests, a genesis investor in Sovryn, documents everything important about the Sovryn platform / protocol that is driving price discovery in the early days of the project.

https://www.youtube.com/watch?v=VFgZwICrYBE

Or if SOV internal exchange gets listed to Coinmarketcap/Coingecko. People who want to see SOV price on Coinmarketcap can fill a request for exchange listing. They have a form on the website.

SOV token data and prices have not been updated on Coinmarketcap or Coingecko because SOV tokens are still traded on their own exchange, not yet traded on the exchanges listed on Coinmarketcap. When the SOV token is already being traded on another exchange, I'm sure the data will be updated.

I've just made it too. I voted for sov to be listed on blockfolio. I know that there are some sites showing sov price. But defienitly it would be more comfortable to watch sov price in blockfolio.

I have been giving my vote for sovryn to be listed on blockfolio but it seems like we must encourage more users to create a request to the blockfolios. Some people in the trading group of sovryn have been doing the same like me to submit their request to the blockfolio for sure.

The current price right now is showing 66$ for SOV and am really happy that I bought it in the early season.
Hopefully, https://coinmarketcap.com/currencies/sovryn/ will start showing the data soon. Even Blockfolio has not added SOV yet but I have sent a request to them.

I urge the community to do the same, please. If more people request it then it will be added soon.

FastBTC is being updated and will result in the UI showing a "in maintainance mode" notice for approximately 30 minutes while the nodes update, which means that the service will be temporarily unavailable. Update the dapp in 30 mins, and experience FASTER FastBTC!

With this update, transactions complete Immediately after 1 confirmation on the bitcoin side, which translates to an  average of 10-15 minutes for a transaction to complete, depending on the gas-fee settings

Cointrader has added SOV to their charts:

https://charts.cointrader.pro/charts.html?coin=SOVRYN%3AUSD

https://twitter.com/cointrader_pro/status/1389141166076178438?s=2


"#DeFi will improve with time."

Sober, well grounded piece by Kyle Torpey, with a mention of Sovryn.

https://cryptonews.com/exclusives/how-bitcoin-and-defi-are-completely-different-phenomena-10042.htm

Ascendex and Gateio were parts of pompliano investment firm and that could be easy for SOV to be listed on CEX.
This time the team is still getting in touch with ethereum bridge and UNI swap roadmap.






Every day new ATH achieved by SOV. that shows how potential the project is. So many people are keeping their SOV for long-term investment. I thought that there should not be a postponement for Uniswap listing.
More people to come from UNI will increase the liquidity of SOV.

ATH hit ₿ 0.00111236 (~ $ 63.91)

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Should Sovryn postpone launching SOV on uniswap, and instead use the recently completed ethbridge to draw ETH liquidity to our platform instead?

Weigh in on the discussion started by SOV Holder Nakameowdough  on our forum:

https://forum.sovryn.app/t/sovryn-is-a-bitocracy-not-an-ethocracy-a-critique-on-the-uniswap-plan/780

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Provide feedback on the SIP that @Dark Knight of  https://babelfish.money/ is proposing to launch $FISH on Sovryn, in our forum:

https://forum.sovryn.app/t/drafting-a-sip-for-babelfish/734

Totally agree with you. for Sovryn, being listed on the CEX exchange is not difficult, it is just a matter of time. don't forget that Sovryn also gets investments from several major exchanges (Bitmex, Bitmax, Gate.io) through a consortium led by Anthony Pompliano’s Pomp Investments.

https://www.sovryn.app/blog/sovryn-begins-trading-as-anthony-pompliano-leads-9m-investment