As Origin presale participant, I’m enjoying reading the perspectives here. Still forming my views, but the discussion is excellent. I find myself agreeing with everyone.
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If you believe in the long term vision, then you should want as low of a price as possible to max out your SOV position.
I’m not exactly a high roller, but frankly I’d take a 50% haircut on my 0.1BTC from origins if it meant I could scoop up more SOV on the cheap.
The open market is going to cause a price rise no matter what, so why would you also want to block yourself from stacking a project you got lucky and found early? Seems short sighted to me.
Just my two Sats
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I agree @dseroy . I would like to add to my origin position. I wouldn’t take offense to a lower price. Like you said, the market eventually will determine the price. Why are we rushing to push it higher when it will do that naturally once it hits the open market. I also think there is added benefit to being priced lower as it will generate more buzz on social media, etc.
I think it makes sense to just raise it 750 sats to stay consistent with the last raise.
Yeah, I average that list and then multiply by 5x for BTC market cap. That’s my price estimate for long term full saturation.
Honestly it seems the biggest concern for everyone, regardless of Genisis and Origins participants, is that SOV is widely appealable to the market upon listing. I highly agree with staking options for people to partake in if possible, that will aid in creating more locked SOV… as for pricing I feel if you are concerned about it being priced to high for public offering now but didnt consider the fact it would actually hit 10k sats in Origins thats kinda shorting Origins buyers although those were the set parameters i feel it should be reasonably priced to favor everyone that is an early adopter. Honestly speaking, supply/demand is already there judging by the rate Origins sold while also considering the manner the sale was constructed. Open it to the main public at 20-30% higher than Origins and let the market go from there. NO EVOLUTION PRESALE. As I always say QUALITY OVER QUANTITY, YOU GET WHAT YOU PAY FOR SO DONT SHORT YOUR PRICE TO BE APPEALING!!! so as mentioned before, it was “under” priced for origins, if that were to be true what would the reasonable price have been had the market decided?? Lets just apply that scenario to public sell why don’t we? We cannot compare SOV to other defi BECAUSE SOV IS BTC PEGGED UNLIKE ALL OTHER DEFI PROJECTS!!! Early adopters regardless of Origins or Genisis deserve to be rewarded for contributing to the project, genisis more then origins but both deserve to be rewarded for supporting… however if pricing was scaled based on interest/demand like Origins for public offering before hitting public offering wouldn’t that just mean the pice will skyrocket from initial cost regardless of listing price?? When I see a project sky rocket from getting listed I am researching the shit out of it right away! Is this a solid project or some shit coin pumping ect… SOV IS NOT A SHIT COIN AND WILL GAIN TRACTION WHEN PEOPLE DISCOVER ITS LINKED TO BTC AND DEFI, NO IF ANDS OR BUTS!!! Just my thoughts after reading everyone elses comments. Lets remember why we all believe in the project and not get distracted by dollars and satoshis. Everyone in this chat is miles ahead of 90% of crypto space IMO! Stay SOVRYN! <3
“First come first served” method is always disadvantegous for people with slower internet and poor(er) hardware, who are not necessarily slow to act or less interested in Sovryn.
Maybe giving priority to the people who have submitted interest e-mails for participation in the Evolution sale could be a fair solution. Or a lottery among the same.
Anyways, good luck with Sovryn, looking great at the hands of a great and dedicated team!
Is it possible to use other plaftorms like Pols, Poolz, Binance Launchpad, Kucoin Spotlight for for Evolution sale??
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I’m reading this topics with so much interest.
Things are quite simple imo:
Genesis price=1
Origin price= ×4
Evolution price = minimum ×2 , ×2.5 if we don’t want this bad image to stick on the project.
Genesis buyers are properly covered and happy about that. We don’t want to give the impression that origin buyers were cash cow.
Maybe a vote can be made with 3 or 4 different prices.
Simple opinion
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Did the guys who invested in genesis sale take this measurements for the origin sales pricesetting, everything went well.
I believe the demand for Sovryn has increased after the origin sale, the price increase this time should also be in the same range as genesis / origin at least or more for origin / public sale.
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I agree, a 2x to 2.5x (20k - 25k sats) feels right. As the origin sale was fairly open to anybody who wanted to participate I don’t believe a price increase more than 2.5x would be considered “fair” by the wider community. Agree with other comments about leaving potential for market upside as opposed to forced sale appreciation.
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My views, fwiw (I bought in origin sale)…
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The public sale price can’t be lower than the origin price, but the idea that if you set it at 20k sats or 30k sats then my SOV is immediately worth 2x or 3x is a fallicy. My SOV will be worth whatever the market thinks it’s worth when it becomes available (arbitrarily setting the public sale price to one that makes origin buyers ‘feel better’ does not equal price discovery!).
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In my view the most negative impact on the project is if the price is set too high… It creates doubt about the value of the project when the market perceives its value below the value it set itself (a point I made ahead of origin sale too!). Origin buyers are more likely to be negatively affected by a higher evolution price than a lower one.
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Too many people didn’t read/understand the nature of the pre-deposit system in origin and we (probably) all paid a higher price because of it (judging by the amount of people in Telegram asking what price/when auction and then being surprised it was 10k sats with no auction!). This is no reason to make the evolution price unrealistically high - it doesn’t help anyone to do so.
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This project has huge potential but is in its early stages. Risk has to be priced in.
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Not much has changed since origin to drive a large increase in price for evolution (you could argue the same for genesis to origin but see point 3, and the vesting was significantly different).
12k - 15k feels like the best compromise to me (might still be too high). Anything over 17.5k would really worry me.
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A little off topic but in regards to SIP’s itself.
I think that the community and team should input, where applicable, any possible further consequences to a SIP that is being voted on.
The reason for this is because of what happened with the origin sale, where 2 SIP’s were conducted on the topic of SOV sale price.
The 2 SIP’s being:
1- A SIP considering the dutch auction.
2- A SIP for the final sale price (after redemption of BTC from the total allocation).
My point, is that during the discussions on the draft prior of the SIP that considered the Dutch auction, the final resolution on what would occur (in the case of redemptions of BTC) could have been included in the same SIP.
Thus, saving users the need to vote on multiple SIP’s and expense BTC on each vote.
If the team and community agree with my view, I believe we can design more elaborate and consolidated SIP’s in future.
Applying the above method will, in the eyes of users and viewers, give the project a more thorough approach to the governance of the system. It will also allow them to see that the administration of each SIP is wholistic and considers all variables.
[The above, of course, all happens and gets decided and finalized at draft level before actual SIP voting]
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I want to chime in on the maximum allocation portion. Since it is first-come first-serve, I think there should be a limit to allow more people to get involved. The amount is arbitrary, 0.1 is fine with me.
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I think everyone from the Waitlist should have the opportunity to buy SOV at Evolution Sale, not just randomly selected people. I’ve missed Origin - I was aware the project, but of it was too complicated, it should be straightforward - go here, connect your wallet, contribute ETH, you have 24 hours, so no rush, and at the end you will get your tokens! And the price shouldn’t be too high - 12-15 is OK, so if anyone from Origin wants to add more its not so big difference. 0,1 max per person is fine also. And the exchange price at first should not be enormous, may be 20-25 the most and then let the market decides. I hope this time to be able to participate, because it would be very frustrating to know about a good project for a month and not be able to join before it gets to the exchanger and have to compete against bots that can move the price crazy high in the first minute!
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In my opinion the proposed price for the evolution sale is not fair to the origin sale participants, which have backed and believed in the project much earlier. For some reason from Genesys to Origin the decision was to pump the price nearly x4, in something like two weeks… And I don’t see why something similar should not be done to the next sale, which happens a month later or more. Personally, I don’t see a x4 increase, which would probably be too much, as much as the price in origin was probably excessive. But at least a x2 so 20000 sat. I think it would be fair, allowing still growth to the project while also being fair to earlier backers.
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Yes it is. We also think that the valuation after full dilution is too high. So only I participated in the pre-sale. Others did not participate. The valuation of 560 million US dollars rejected many people in the market. Others rushed to buy because the frenzy of the market did not pay attention to the price.
Why didnt you participate in Genesys, you mentioned that you have followed the project over a month, or was it not possible for everyone to participate in Genesys sale.
What is Genesys? The translator I use is not very accurate. I participated in the 0.1BTC sale of 10,000 Satoshi, which seems to be the Genesis Wheel. How many rounds are there in total? But I did not persuade my friends to participate because they felt that the diluted value of 500 million dollars was too expensive. We all want to participate in the 2500 satoshis, but only those with NFT can participate, so we missed it. The difference between 2500 and 10000 is far. If you can choose. I like to choose 2500 locked for three years
Hi, Genesys was the first sale, before origin. The 0.1BTC Sale was origin sale. The next and final sale before market listing will be the evelution and most probably the price will be over 10k Satoshi for this one. There will be voting for the price soon.