I think there needs to be a allocation cap to prevent whales from having too much control. I’d say cap it at .1 BTC or convert that to ETH. My vote is 17500 sats to keep the jump of 750 consistent. Seems fair.
Also, would be nice to give current holders a chance to add to their position at the Evolution price. Maybe another allocation held to same limits defined for Evolution sale. Could be done by whitelisting existing holders.
@light is actually working on a SIP standard to address this and other issues, visible here:
Hi.
Will summarize the thread so far and propose a short solution draft based on all the pros and cons showcased in this thread.
Q: Do we need an Evolution sale?
A: Yes.
WHY: SOV is great but we need to reach the world, basic go-to market. It will be childish of us not to go conquer other realms. 500k-ish tokens for penetrating the Ethereum DeFi space is a bargain.
Q: Fixed-Price Swap, Origin-style Dutch auction, or real Dutch auction?
A: Origin-style Dutch auction.
WHY: Let the market determine the exact price and keep confusion between Origin and Evolution sales to a min. SOV devs, you need to take one for the team and repeat the Origin-style auction.
Q: Auction price ranges?
A: Min barely higher than max of Origin (10.5k sats), max 4X the max of Origin (40k sats).
WHY1: Having a min very close to the max of Origin will not displease the new bidders as it naturally makes sense.
WHY2: Having a 4x max range mimics the jump from Genesis to Origin and allows the market to determine the price. Origin buyers can’t complain as it is an identical jump as in Genesis-to-Origin, new buyers are happy as min price is more than decent, risk of having “fixed-swap” price too high and possibly hurt the project is eliminated.
Let’s do this!
xoxo SOV fam
Hi all,
Now we are facing a new issue.
As I said before, Genesis buyers are 4x covered by Origin buyers.
If Sov doesn’t go public before Genesis 10% unlocked, we will face a worst case than predicted.
Please be reactive and anticipate the issue.
Be Sovryn
No one from the genesis sale is going to sale for an x4. If you understand the project potential, you should have a long term strategy and I am sure that staking the tokens would be very interesting.
How come you can be that sure about all the genesis buyers? Do you know them all personnally?
I’m also an optimistic but also realist.
I don’t know them all but I would be buying if they are selling… there was a maximum limit in purchase for a reason.
(correction, edited) genesis buyers - understood that their investment was on a 10 month linear vesting schedule, who understand the proposition of staking their investment on the platform to earn a percentage of the fees generated by trading on the platform. They’re not unsophisticated buy and flip the latest coin types, they are investors with a low time preference, as evidenced by their willingness to lock up their bitcoin on the platform.
Thanks for this.
But allow me to say that it’s not 100% of them.
Can you be 100% sure that none of them will sell their token before 10 months? If thay’s the case I’m very happy for all the investors then. But I beleive in free will. And people are free to change their mind and secure their investment. We’re talking about a market not a cult.
I know you guys are working hard and I thank you for that, but please none of us came here out of generousity. I’m a long term investor but I think that everyone should feel free to do whatever they want with their investment even if it’s not what the masse wants. It’s their money after all.
I’ll follow closely the 10% unlocked of genesis each month and will come back great you if noone sells.
Keep up the good job
This is incorrect. Genesis is protocol users, not VCs or whales or whatever. The SOV tokens will be tradable on the Sovryn system once SOV is added to the AMM. For that its important that we add liquidity to the system, which is our highest priority right now.
i stand corrected. excuse the misinformation.
i am in favour of the evolution sale, i see there were so many arguments made by our community member and i also realize that majority are in favour of the evolution sale
in order to create equilibrium, i stand with the community members for the evolution sale .
This project has been watched since 2017
I’m really disappointed. Evolution sales should be more expensive. 99satoshi is required
I am in favor of another sale, at a higher price.
Let us all come to a conclusion and have this decision to have the Evolution sale at the initial price to lay out the principal of equality and endure trust in the new participating members so that they can bring more benefit by holding Sovryn and providing power to its eco system.
once we launch, we let the market decide the price.
Let’s go!
Mid-term: Encourage holding, once BTC goes bearish.
Long-term: Demonstrate price-stability and build ongoing confidence.
If the evolution sale happens it should be at a minimum of 20k satoshis, Otherwise im in favor of going straight to exchanges and letting the market decide. I think the latter would be the most organic way for the project to proceed.
The SIP 0009 discussion has been ongoing for almost a month. Do we have any timeline on when a proposal will go to vote?
Not clear that it will be voted on. Only if there is an emergent consensus. Right now I’m not sure there is.
If the Pomp SIP gets approved seems that could replace the Evolution Sale and more liquidity. Plus, with lockup ending for Origin in a little over a week, probably past the opportune time.