[DRAFT] SIP 0006 - Sovryn Origins Pre-Sale

Bitocracy SIP | Sovryn Improvement Proposals
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Would the team consider offering more then the 2 million suggested? Btw, where can we learn more about the Sovryn BTC Peg?

22

Agree… Would love to get a better understanding of this too

23

@Whipper156 @Ponjinge the model is very similar to TBTC. We might be introducing some opportunities to reduce collateral requirements, but comparing to TBTC would be the way to look to model it.

24

Thanks Yago. I have to be honest the TBTC model scares the crap out of me in a black swan type event. 150% required collateral with Bitcoin’s volatility isn’t much. Since the Sovryn token / peg will be very new would the team be open to higher Collateral requirements? A good example is SNX. They have always had a very high collateral ratio and gradually lower it as time passes. How will the fees look when transferring from TBTC to Sov Peg?

25

I absolutely agree that we may need a higher collaterization ratio. This is a question that is approchable with some mathematical modelling, and some assumption on volatility. I think the SNX model is very different and their ratios are madness… but maybe.

The fees for transferring should be in the vicinity on 0.5% I suspect.

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26

0.5 % is quite high isn’t it? How much are the RSK fees to move BTC on and off main chain? Currently REN charges a minting fee of 0.025% and a burn fee of 0.01% to bring renBTC on and off chain.

I’m sure the fees can be negotiated right?

27

May want to consider revenue multiples when thinking about scale relative to current and successful defi projects versus only looking at circulating supply relative to market cap:

28

Just confirming understanding of what @yago mentioned in the AMA today (pls correct if I misrepresented) … There is a potential for SIP 0006 to be modified in a way that (uneven) splits up into an:

  1. Allocation for dutch auction
  2. Allocation for OG users that had NFTs to participate in Genesis sale … but were not fast enough to get any allocation of CSOV (ie not those that sent any funds / or β€˜over sent’ funds / or were in some block that should have been allocated CSOV β€”> but the 80%+ of OG’s that did not fall into the above categories)?

If so, this rewards early highly active users/contributors that were around before Sovryn had much press / word of mouth … and before any FOMO hype and new demand for SOV users came about.

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29

That is how I understood it as well.

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30

Regarding the date upon which the SOV allocated as part of Origin - currently the SIP mentions 30 days. This should be changed to approximately 6 weeks after TGE. This is because the staking on the Bitocracy contracts works in 2 weeks intervals, starting from TGE to calculate voting power. Doing it only 4 weeks after TGE will likely not align to the spirit of SIP-006 which is to give the protocol time to conclude additional sales.

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Π’ любом случаС 60% Ρ…ΠΎΠ΄Π»Π΅Ρ€Ρ‹ ΠΈ Π±ΡƒΠ΄ΡƒΡ‚ Π΄Π΅Ρ€ΠΆΠ°Ρ‚ΡŒ Π΄ΠΎ максимума своСй Π½ΡƒΠΆΠ΄Ρ‹. Π—Π΄Π΅ΡΡŒ Π½ΡƒΠΆΠ½ΠΎ солидарноС ΠΏΠΎΠ½ΠΈΠΌΠ°Π½ΠΈΠ΅ ΠΈ нСкоторая стимуляция. Π§Ρ‚ΠΎ Π±Ρ‹ циркуляция ΠΌΠΎΠ½Π΅Ρ‚ Π±Ρ‹Π»Π° Π³ΠΎΡ€ΠΌΠΎΠ½ΠΈΡ‡Π½ΠΎΠΉ пСриодичСских с Π½Π΅ΠΊΠΎΡ‚ΠΎΠΏΡ‹ΠΌ Π΄ΠΈΡ„ΠΈΡ†ΠΈΡ‚ΠΎΠΌ . ΠšΡ€ΡƒΠΏΠ½Ρ‹ΠΌ дСрТатСлям особСнно Π½Π°Π΄ΠΎ ΠΎΠ±Ρ€Π°Ρ‚ΠΈΡ‚ΡŒ Π½Π° это Π²Π½ΠΈΠΌΠ°Π½ΠΈΠ΅, Ссли ΠΎΠ½ΠΈ Π”Ρ€ΡƒΠ·ΡŒΡ Sovryn . НапримСр : я Π±Ρ‹ ΠΏΡ€ΠΈ ΠΊΡ€ΡƒΠΏΠ½ΠΎΠΌ ΡƒΠ΄Π΅Ρ€ΠΆΠ°Π½ΠΈΠΈ Π΄ΠΎ 40% Π½Π΅ Ρ‚Ρ€ΠΎΠ³Π°Π» Π΄ΠΎΠ»Π³ΠΈΠΉ ΠΏΠ΅Ρ€ΠΈΠΎΠ΄. 60% ΠΏΠ΅Ρ€ΠΈΠΎΠ΄Π°ΠΌΠΈ ΠΈ частями создавал ΠΏΠΎΠ·ΠΈΡ‚ΠΈΠ²Π½ΡƒΡŽ Ρ†ΠΈΠΊΠ»ΠΈΡ‡Π½ΠΎΡΡ‚ΡŒ . Π­Ρ‚ΠΎ Ρ€Ρ‹Π½ΠΎΠΊ, ΠΈ стратСгия лидСрства Sovryn Π½ΡƒΠΆΠ½Π° сообщСству. ΠŸΡ€ΠΈ ΠΏΠΎΠ·ΠΈΡ‚ΠΈΠ²Π½ΠΎΠΌ солидарном ΠΏΠΎΠ½ΠΈΠΌΠ°Π½ΠΈΠΈ , ΠΏΡ€ΠΎΠ΅ΠΊΡ‚ ΠΏΠΎΠ΄ собой Ρ€Π΅Π°Π»ΠΈΠ·ΡƒΠ΅Ρ‚ Π΅Ρ‰Ρ‘ инструмСнты для ΠΌΠΈΡ€ΠΎΠ²ΠΎΠ³ΠΎ общСства. Π˜ΠΌΠ΅Ρ‚ΡŒ ΠΈΠ΄Π΅ΠΈ ΠΈ Π½Π°Ρ€Π°Π±ΠΎΡ‚ΠΊΠΈ Π½Π΅ ΠΎΠ΄Π½ΠΎΠ³ΠΎ Π³ΠΎΠ΄Π° изучСния . Об этом я ΠΏΠΎΠΊΠ° ΠΏΠΈΡˆΡƒ, ΠΊΠ°ΠΊ ΠΎΠ΄Π½ΠΎ ΠΈΠ· Π½Π°ΠΏΡ€Π°Π²Π»Π΅Π½ΠΈΠΉ. Когда ΠΌΡ‹ ΠΎΠ±Ρ‰Π°Π»ΠΈΡΡŒ ΠΏΡ€ΠΈ встрСчС с извСстным Π² ΠΌΠΈΡ€Π΅ ΠΊΠΎΠ½ΡΡƒΠ»ΡŒΡ‚Π°Π½Ρ‚ΠΎΠΌ Googl И основатСлСм Π°ΠΊΠ°Π΄Π΅ΠΌΠΈΠΈ Π”Π° Π’ΠΈΠ½Ρ‡ΠΈ, ΠΊΡ€ΠΈΠΏΡ‚ΠΎ сторонником. Вомас Π€Ρ€Π΅ΠΉ ΠΎΠ½ ΠΌΠ½ΠΎΠ³ΠΎΠ΅ сказал ΠΎ ΠΈΠ·ΠΌΠ΅Π½Π΅Π½ΠΈΠΈ финансово политичСского ΠΌΠΈΡ€Π°. И сообщСствк ΠΊΡ€ΠΈΠΏΡ‚ΠΎ энтузиастов придСтся ΠΏΠΎΠΌΠΎΡ‡ΡŒ ΠΈ ΠΏΠΎΠ΄Π΄Π΅Ρ€ΠΆΠ°Ρ‚ΡŒ чСловСчСство. БтратСгия, смотри Π½Π° 40 Π»Π΅Ρ‚ Π²ΠΏΠ΅Ρ€Ρ‘Π΄. Иди Π½Π° 20 Π»Π΅Ρ‚ Π²ΠΏΠ΅Ρ€Ρ‘Π΄.

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    Вомас Π€Ρ€Π΅ΠΉ. ΠœΡ‹ ΠΎΡ‡Π΅Π½ΡŒ Ρ…ΠΎΡ€ΠΎΡˆΠΎ ΠΏΠΎΠΎΠ±Ρ‰Π°Π»ΠΈΡΡŒ ΠΈ ΠΌΠ½ΠΎΠ³ΠΎΠ΅ пСрспСктивноС Π²ΠΈΠ΄Π΅Π½ΠΈΠ΅  рабзвития ΠΈΠΌΠ΅Π»ΠΈ.  [IMG-20210205-WA0001|281x500] !(upload://94wWVi8wX23WtcaOBuE8Kj1ha9C.jpeg) ![Screenshot_20210201-161257|214x500](upload://mHVIl6z0i1hvqrO2R7ToQ22OpQF.jpeg) ![Screenshot_20210201-161039|214x500](upload://khkHUiOOsVxxJYjbpk9N3JQIa1r.jpeg)

Книги ΠΊΠΎΡ‚ΠΎΡ€Ρ‹Π΅ Ρ‡ΠΈΡ‚Π°ΡŽ. Π˜Π½Ρ‚Π΅Ρ€Π΅ΡΠ½Ρ‹ΠΉ взгляд ΠΈ ΠΏΠΎΠ½ΠΈΠΌΠ°Π½ΠΈΠ΅.

33

I just want to know if it is possible to unlock at least 10% to 25% of tokens of pre-sale buyers on listing and consider . @yago

34

There is no planned lockup for Origins sale tokens.

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35

@yago I was under the impression the primary purpose of staking was to secure the collateral peg as you hinted. If these are two separate things, can you confirm the functions of each:

For staking:

  • Is it purely to get greater profit share and voting rights in Bitocracy? Are there other functions or benefits?

For collateral peg:

  • Who are the parties that are performing the peg responsibilities and how does that process work?
  • Also curious what happens if there is not enough collateral to back the BTC peg, does the platform just halt and prevent any new BTC from coming on? How does this process self-correct?
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