Liquidity issue

General Commons
1

Hi after supplying sov and rbtc to the pool, my sov now has disappeared and cannot be seen under the withdraw tab. Any ideas please?

2

Hi, same problem here. SOV were deducted from my wallet but I can’t see anything in Liquidity Mining, and I can"t withdraw neither. I guess we missed something or doing something wrong… Anyone could help?

3

I supplied rBTC and SOV to the SOV Pool. You should see:

  • Supplied Blance
  • (WR)BTC/SOV: X.XXXX

My issue is I don’t understand what this number means or what it’s worth in rBTC and SOV since initially the supply ratio is 1:1

4

You are right. If I go to withdraw I can see : * Supplied Blance

  • (WR)BTC/SOV: X.XXXX

But yes, what does it mean? and why at the bottom of the page it says: you have no SOV/rBTC liquidity mining events yet?

5

I think it’s just a UI thing, it also says “Your Current Share Of Reward Pool*: Coming Soon”

From someone on the Telegram chat:
"You can see the LP token you receive in return by adding it as a custom token to your wallet - Troubleshooting | SOVRYN Wiki

More detailed displays of how much your Lp tokens are worth are in development"

So I tried it and added the “WRBTC-SOV” ticker to my Liquality wallet (Settings > Manage Assets > Add Custom Token) and now I see my balance but I don’t see a value so I still don’t know what it’s worth lol but at least I know it’s ‘registered’ somewhere and consistent with what I see on the Sov app

6

I added the token as bigx said and it worked. In my case I do see the LP balance in (WR)BTC/SOV, but I don’t understand the amount.

Does anyone know where the explanation of the calculation of this amount appears? It is probably in the help, but I have not been able to find it. (Maybe it is a 1:1 ratio to the SOV deposited in the pool?)

I see “Your Current Share Of Reward Pool*: Coming Soon” too in the main liquidity page.

Thanks.

7

To my knowledge, there does not exist a tool to see what the (WR)BTC/SOV token is worth in terms of rBTC and SOV.

What I do know, however, is that unless you close your LP position at the exact same exchange rate at which is what opened, you will have impermanent loss (IL) on one asset and a gain in the other depending on which appreciated

From my testing, I provided liquidity to the SOV pool using rBTC and SOV @ 99,537 Sats and closed the position @ 100,395 sats (SOV went up vs rBTC between open/close) and I ended up with more rBTC (+3.4%) and less SOV (-3.6%)

So, if BTC/SOV goes up between open/close, you will end up with more rBTC and less SOV

For me, this worked out for the better as SOV later dropped in sats and was able to buy more but that will not be necessarily the case in the future

Hope this helps @alberto

8

Yes, it helps a lot indeed, thank you @bigx. And it makes perfect sense.

Having understood that there is no tool to know the value of the (WR)BTC/SOV token other than the BTC/SOV exchange rate itself and the concept of Impermanent Loss (good explanation, by the way), I wonder where I can know the amount of commissions received for providing liquidity. I don’t see movements on any token, is it the same for you?

9

@alberto - Yes, this is the same for me.

  • The quantity of the (WR)BTC-SOV token (“LP Token”) will not change (unless you supply more liquidity and receive more LP tokens)
  • The value of the LP token will change based on BTC/SOV between open/close as explained previously
  • The rewards will be credited at the end of the Liquidity Mining Event, which ends May 11th, 2021 at 12:00 UTC. From my understanding, this includes the 25,000 “bonus” from the event + “dividends” (aka redistribution of trading fees)

Your current share of the bonus is not yet being displayed, I believe this is still in the works from a front-end perspective. I as well only see “Coming Soon”.

I am currently testing the rUSDT LP with rUSDT and I see my share of the reward pool (%) as well as the value of my bonus (SOV). I do not, however, see my share of the dividends, I believe this is still in the works for all pools

In case it’s not clear, Liquidity Mining Events are discretionary events organized and voted on by the devs and community. After the event is done (and until another one is organized), liquidity providers will only receive dividends. On a recent webinar, one of the devs said they might do more Liquidity Mining Events in the future but not for certain.

10

Great explanation, once again.

I didn’t notice the final date of the event, May 11.

I think I have located the webinar video you mentioned, I didn’t know it existed. I feel like I’m a little step behind in this matter.

11

@alberto, they released a calculator today. You put in your address you get to see your reward:

https://wiki.sovryn.app/en/community/tools/sov-btc-loot-drop

12

Just what we said!

Very useful tool. Thanks for the input.

Thanks to the development team as well. Great job.

1 Like