The sip contains a 12 month commitment for the liquidity
8 Likes
Iâm against the SIP:
- Project appears to be low quality or at best a shit coin
- What utility does this offer Sovryn and stakers? another token to trade on the AMM?
- I think work may be needed to bridge token from Ethereum to RSK, can someone from the team comment?
- Should Sovryn and the community be associated with this token? refer back to the first point.
- Sovryn Core Team should not be prioritizing this listing over other work in progress
3 Likes
Seré sincero. A primera vista no me parece una mala propuesta por ser una iniciativa comunitaria y me agrada la idea de que atraiga liquidez⊠creo que es una opción a corto plazo, no creo que aporte valor real.
Cuidado, puedo estar equivocado y esta migraciĂłn puede ser tendencia.
Realmente no quisiera que esto quite los ojos del verdadero cambio, del que realmente aporta valor, que es $DLLR. ContribuĂ en correr la voz, pero no seria algo en lo que decidirĂa poner mi dinero. Disculpen si soy algo duro, me gusta la seriedad⊠Pero si quieren bailar, bailemos!
6 Likes
1 itâs a meme token
2 it adds immediate liquidity and increases trading
3 this increases income through fees to the protocol and to Sovryn stakers
5 Likes
Adding to my previous point, that i stated in TG:
Currently the Sovryn Dex is not a decentralized exchange as the only pairs on it are those approved by the dev/founder team. This is the first step toward opening it up (which I think should have happened a LONG time ago, but I digress)
6 Likes
Appreciate your feedback friend! Stay Sovryn
2 Likes
I am torn here There are pros for sure:
- Lots of new eyes + buzz
- Liquidity
- Taking part in ordinals & being an active part in that discussionalso showing that ordinals belong on a side chain as was discussed on discord
But there are cons:
- its a shitcoin and therefore a money grab, it will cause grief that will rub of on sovryn, project itself is new and unproven who knows if its a scam all throughout?!
- It takes away the âprofessionalâ look that the communications team has been grafting lately putting us as a âfinancial layerâ that could integrate with banks etc. rather then a DEX
- it takes away focus from zero/dllr launch - its really bad timing - yes there might be more eyes but we are just about to make our own hype train not sure we need the nitro glycerin in the engine tank
I would probably not vote on that SIP as it stands.
5 Likes
I understand your point of view and I agree in part.
What I like to âaskâ is:
- Binance is less professional for having a lot of shitcoins?
- Uniswap is less professional for having a lot of AMM pools that in the end were rugs?
Yes, the focus has to be on zero/DLLR Launch but if we have a ânew communityâ onboarding before the launch what will do to the launch itself?
As I said before we have more to win than lose, and the community knows that this is a meme coin, and like all other shitcoins, only those who want to trade them will do so. Everyone is aware of the inherent risks.
In the middle of this, all sov stackers win with the increase of fees of the protocol.
And maybe all this attention will open eyes to projects that want to come to RSK/sovryn.
Everything has to start somewhere.
5 Likes
Would that change if the launch was after $DLLR and Zero public launch?
looking at the recent hype from the new website launch it took around 3 weeks for that to abide just from the feel of it on discord on the chart. So I would venture to guess that DLLR/ZERO public launch will also have a 4 week initial hype. Id say if timed right it could be a beautiful boost to continue having buzz around sovryn and I would be more supportive. It would then probably also take the (wrong but already out there) accusations away that devs rather implement a meme coin then work on Zero.
that said time is of the essence in this space. I donât know if it will make such an impact 8 weeks down the road (4 weeks til zero drops, 4 weeks for zeros hype to calm down) - so many things could happen until then. a crash, someone using ordinals to stall the whole bitcoin chain etc.
2 Likes
Of course if we are just a dex then sure adding meme coins is totally in the cards. Thing is that marketing has been pushing the âwe are a financial layer rather then a dexâ talking point aggressively lately and for that adding more pairs to the AMM pool that are not helpful to the operation of the financial layer is running astray from the core messaging.
I am quite happy that communication team has finally found a coherent unique message and sticks to it. Its a bold message on top. The SOV Dex was at the beginning we are now becoming a utility and are above the pack. Question is - are we still a DEX, is the DEX a demonstration of the financial layer or is the DEX really just a tool to make the financial layer work (trading important pairs, sov, bitcoin, xusd, dllr, eth).
I am very interested of what core team especially marketing has to say to this.
3 Likes
I think you bring a valid point, my question is⊠when does sovryn ever become a dex if we gatekeep every token like coinbase did when they first started out? I think this really hinders growth if we donât allow exploration and excitement on our dapp from more speculative plays. This would only encourage more projects to look at listing on our dex which would be good for our entire ecosystem.
8 Likes
Really looking forward to creating history with listing of first Meme on BTC with $ODOGE (Ordinals are the new way ahead) â Wrapped Ticker $SODOGE â Itâs so DOGE would be killer !! ODOGE the TOp DAWG in crypto indeed.
5 Likes
This is worth sharing
4 Likes
I wasnât a fan of Doge, Shiba, Floki and I guess Iâm not degen enough to dive deeper into oDoge. Some folks will make money on it for sure. Iâm not going to be one of them.
On the other hand if they can bring liquidity and push spread some DLLRs⊠Iâm going to be neutral if this goes to vote.
4 Likes
Doge is avowedly a meme-coin to the last, and the unabashed ur-progenitor of that phenomenon; ordinals are a frontier unto crypto itself, still giddy with the freewheeling euphoria of possibilities heretofore unimagined on bitcoin. Neither purports any concrete use-case or intrinsic value-proposition such as might otherwise amount to a misrepresentation, e.g., of the sort perpetrated by Safemoon and its predatory, morally-bankrupt ilk.
Ultimately, no-one will be led astray here save by their own speculative, degenerate greedâand far be it from Sovryn to police othersâ proclivities in this regard.
As such: Iâd be cautiously in-favour of this collaboration.
4 Likes
Thank you for your feedback - you are appreciated
2 Likes
Thank you for your feedback - I appreciate honesty and integrity. Meme tokens arenât for everyone . Offering a choice to people is important. Remember as a Sovryn staker youâll earn fees even if you never touch the $oDOGE toke
2 Likes
Not for me, but I wonât prevent it. Experimentation should be supported as long as it can âfail fastâ. Speed is everything. If it can be spun up in less than 5 days with minimal dev effort then get for it IMO.
At the same time my gut tells me the odds it brings material trading volume is low since it already trades on more easily accessible platforms. The odds it rug pulls is also low but we are taking reputational risk that happens listing a coin without doing much diligence.
6 Likes
It is a memecoin, but a funny one.
Why should only the others have fun?
The fresh wind around ordinals and new tools around bitcoin are good.
Itâs better to own your keys/funds and use Sovryn than depositing it on centralized exchanges.
Sovryn users are able to make their own decisions. If they want to trade $oDOGE, they should do it in the best possible way: via Sovryn.
10 Likes