It would be cool if Origin sale participants would be able to increase their SOV holdings considering we are open to the idea if the Syndicate buying this many tokens.
3 Likes
I think the proposal is good and seems very reasonable. It can be very beneficial to support the growth of the project and bring in some strong players, the value seems well beyond the actual economic investment. Also the proposed price tag and vesting schedule seems consistent with a real interest in the long term development of Sovryn rather than a quick pump and dump scheme.
However, it could be interesting to know all the members of the syndicate, if possible, before making a final decision. Once the partners are known it is easier to judge the proposed investment (i.e. some organisations are well known for pumps and dumps), and understand the value they can bring beyond the economic aspects.
My two Sat on this topic 
What I believe:
Pro:
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Really neat proposal and well presented. It will bring in a lot of network power, which can be priceless. Think of listings and partnerships, who knows how he can provide. I assume he could be working closely with the team when and where needed as an unofficial advisor.
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Pomp aint a dummy. He is a battlefront fighting soldier spreading the word of crypto Shark Tank's Kevin O'Leary and Anthony "Pomp" Pompliano Debate Bitcoin's Future Outlook - YouTube Look at him take on 3 no-coiners in their home-game. With an investment like this he is vouching and fighting for Sovryn. He is ready to mutate.
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It saves the team a buttload of time to setup another sale, which is severely time consuming. Time better spend on bringing Sovryn to higher levels.
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His* Sov will be with a 3 month cliff with 13 month linear vesting. This shows to me he is willing to hold and lock and not aiming to p&d, showing me trust and faith.
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Good exposure for Sovryn. Pomp has a big audience, beginner to experts, no-coiners to maximalists. He will surely spread some sov love.
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BTC peg issue would be immediately solved, also huge time saver.
Neutral:
- The evolution sale SIP discussion could not find a consensus on price to vote on. Prices mentioned were between 12-15k sats. I know pomp is not buying the Evo sale, but if the evo sale is at this moment not needed if this sip passes, shouldnât the price be at least the mean price of 13,5k sats?
Con (just to at least have some)**:
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Decentralisation is not really great with this deal. Pomp is buying about the same amount of sov as Genesis sale sold to 600(?) addresses. Origin sale was even more decentralized. I do not known how big pomps syndicate is. However, the his first unvesting of 115,000 SOV is in 4 months and by than the dilution should be big enough to absorb this.
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Many people were looking forward to buy their first sov in the evolution sale.
For me personally, the proâs heavily outweigh the cons here and will therefore vote positively.
I believe that if the price is moved to 13,5k sats this vote will pass close to a 100% consensus.
*Read: pomp+syndicate
** I donât weigh these cons as heavy, as I believe they are close to neutral, but not fully.
6 Likes
Discussion highlighted probably all points from many angles (and so much more) that where in my head. Right now I donât have anything to add, but to vote this SIP with yes.
1 Like
Agree with all points, thanks for putting this together.
Looking forward to the community call tomorrow with Pompliano.
I think his proposal presents a clear win-win situation.
One additional point to add would be that Pompâs investment would bring a ton of much needed liquidity to accelerate deployment of the platform.
1 Like
Nice proposal. Nicely written. B
I fully agree with Your point of view. I couldnât write it any better.
Actually the syndicate is getting would be acquiring quite a bit less that Genesis (2.6m) and Origins (2m).
4 Likes
I have been thinking a lot about this proposal in the last few days. And want to say thanks to Exiledsurfer for his explanations, and LordCommander for listing 9 fundamental pillars of this potential partnership I happily sign on to.
âThe value seems well beyond the actual economic investmentâ, an earlier Bitocracist commented. This feels true for both sides.
For Sovryn, having a consortium of exchanges, miner groups and well-connected players take a long-term stake in the ecosystem and help facilitate its growth, is exponentially beneficial.
For Pomp and his partners, this investment is a sizable stake in a startup business community with a vision and use case big enough to hold the promise of exponential Bitcoinesque growth.
Itâs a feast of asymmetric opportunity
I have one hesitation, only. Itâs the creation of a voting block big enough to effectively nudge Bitocracy into their preferred direction. But if the consortium members are many and vetted, and the SOV purchased is vesting as collateral for the BTC peg and wonât be staked in governance, thatâs an important assurance.
Offering 13.5k sats or a slightly longer vesting period are small adaptations that make sense, in light of the unique opportunity Pomp & co are getting. But on the overarching question of yes or no to this strategic investment offer: yes, resoundingly.
Fair follow-up question to ponder: will anything be done with the remaining Sov in the Programmatic Sale pool to accommodate the proto-Sovryns who were looking forward to buying in the Evo sale, and donât have a shitton of heavyweight cultural crypto capital to leverage in SIP-formâŚ? Uniswap listing, Balancer LBP, Gnosis auction, and so on. Ideally, something that doesnât require a ton of time from the team, but does further broaden the Bitocracy community and satisfies the yearning for participation of smaller fishâŚ
Letâs rock the world together.
2 Likes
Letâs airdrop the remaining SOV to the existing hodlers. 
Or, if that wish canât come trueâŚ
Programmatic sale using existing hodlers as whitelist paying the same price per SOV as Pomp.
I was limited to .1 BTC on the Origin sale. Iâd like to get more skin in the game like Pomp just did on a smaller scale.
There remain about 650k tokens in the programmatic allocation that will be brought on to the market at some point - subject to a vote. But, now that the platform is going live on 30 march, with unlocked tokens from origins and genesis presales becoming available for hodlers to put on the market or not, the period for âgetting in at a discountâ can be considered over. From now on the market will be setting the floor price, and the terms of any future sale from the programmatic fund will have to be proposed, and voted on.
That being said - from the team perspective side the intention of the Evolution Public Sale, as it is known, was, and probably will remain to be offered on ethereum in order to bring eth liquidity into the platform. This is also dependent on the secure functioning of the eth bridge at volume.
While the price wonât have the advantage of getting in before anyone else did on the presales, there should be plent for the âlittle fishâ to nibble on, and then stake and earn with on the platform, which is really the tokenomic design / incentive that makes SOV interesting, and worth something as opposed to the buy and flip at xxxx gains expected from coins these days. But iâm sure youâre aware of that
Thanks for your valuable questioning of this SIP, which enabled me to present the arguments in favor of it, as well as your support in this early stage of Sovryn, @Jonezee - as well as everyone else who was involved in the discussion. This is what makes us strong, and Sovryn!
2 Likes