Topic: [ANN] Sovryn - Brings DeFi to Bitcoin - page 9. (Read 6871 times)

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

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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.

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.

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.

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

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

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.

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.

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.

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

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

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?

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.

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

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 is not yet developing API to the its DAPPS. We didn't need check to be listed on CMC as long as sovryn has its own API and CMC can get the data from sovryn platform to the CMC. The team must be working on this. We know that CMC is the easiest way for anyone to get information about sovryn. The only answer is waiting for the team to create its own API to connect with CMC.

If that is the case why haven't they update the data for sov to be tracked in cmc! Do you even know since when that untracked status have been there? It has some days now since the cmc guys put in that link without any update because it appears they can't track the rsk network and since sov is only trading in sovryn dapp it is difficult for them, reason why I mentioned the cex or other easy to track dex like uniswap when the bridge has been done.

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.

without a doubt, one of the DeFi project who stands quite upright and able to show his sharp fangs is SOV. Well, we acknowledge the existence of SOV, the good news is that the campaign program only lasts for 1 week and finally the campaign manager has informed that today is the distribution of SOV in progress. it may be true that SOV should have a place on the cex exchange, in order to further add to the sizeable interactions. and attract more devotees.

The team is still focusing to develop their ecosystem but the problem is there will be limitations for the people that can be attracted to the sovryn platform. There are lots of discussions about ETH and BSC bridge.
Some people are against it based on the thread that is still being discussed in the sovryn forum.
The implementation of the bridge must have passed the voting on bitocracy. It will consume a lot of time.

I think sov will have to be trading on cex exchange before they can list in cmc I think, and from most of post on sovryn Telegram official group, it seem cex listing won't be happening anytime soon, sovryn is a dapp dex, but once the uniswap and bsc bridge has been completed am sure that will bring enough exposure to sov and would also mean being on cmc.