Also, would be useful to study fractional.art
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There is constantly this suggestion that this would bring a ton of people to Sovryn. But this project is not even three weeks old, it is ranked #2726 on Coinmarketcap, lots of its social activity is bots (by their own admission), and it can be traded on other platforms. Why are peope expecting an influx of people and trading from this? Iām not seeing it tbh.
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It will bring a lot of trafic exactly because they can afford to do unorthodox marketing eg. Bots
Stuff we in Sovryn would/can never do
Also good to note that they have 1,5m trading volume already. SOV can pull this volume only on full moons and solstices
True, itās not BDX - which was blatantly shilled by core team for some reason.
But Iām very delighted to see youāre opening up on transparency.
And that youāve taken the time to write more than a single word for answers.
I still have a lot of questions about your KPIās so far, your role and of course, your new venture and āside businessā.
oDoge community is very much in favour of trading their token on a BTC native sidechain than on ETH. (It also comes with lot less of fees for them)
They just got listed on Poloniex as well. They clearly know how setup things fast.
I just hope core team listens to community. And doesnāt wait until (or bet on) discussion to dry up.
they did alreadu an AMA
they are exited to come over to RSK.
even if only 500 persons decide to trade on Sovryn outside the current cult we have, its already a BIG win.
its not so much about the token itself as said, you dont have to trade it all if you dont like it. i wont personnally.
if we can get even 10% of the volume, it would be good for the dex as a whole.
stakers will get more revenue.
and newcomers might stick around on Sovryn and discovering all the good stuff happening here
they will provide all liquidity, so there is no financial risk for Sovryn.
its like someone giving you a lottery ticket for free, no risk for you, but you can win
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what if sovryn community creates a better doge logo, inscript it, then use RSK smart contracts because token but belongs on a Bitcoin sidechain to be itās purest form and all of this under Origins project.
all stakers would receive a cut in an airdrop to pump&dumpā¦ (not only who is proposing) anndd
WOW
SUCH amm /$DLLR
MUCH fees
WOW
this would be the real Match made in crypto heaven.
I would like to bring attention to one aspect: WE SHOULD NOT TRUST THE ODOGE TEAM AT ANY MOMENT.
We should be super weary of the risk that they rugpull the thing and steal some rbtc in the process, if they have the possibiliy to do so we should assume they will.
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Their AMM liquidity is locked from withdrawal.
Canāt see what else they can or should do.
They are not going to allocate the totality of their funds in the amm. Nothing forbids them to unload the rest of their coins through the amm
All good, first go to https://odoge.co and give it a good read because itās all there.
FRACTIONAL.ART ā Thatās where you can make fractional ownership of a NFT. Simple way, NFT costs $1 and it gets broken into 100 pieces, each piece is 1% ownership.
Ordinal Doge did that but then burnt 50.00001% of the tokens so itās technically impossible for anyone to ever rug the vault.
Fractional ownership of NFTās will be a narrative going forward as itās already starting to show in a few different cases besides this. Opulous and RiteStream come to mind.
I trust this helps.
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They are putting up the initial liquidity so they are just making an LP they agreed to lock for a minimum of 12 months with no plans on removing it BUT if things get weird in an unprecedented way they have a right to remove it after 12 months which only makes sense.
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If we did it would be at the current ordinal height of 400k+ not the sub 6,000 like oDOGE has. Itās also the 1st doge inscribed on BTC.
Insert stand up and clap GIF here
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I read everything on that page (and the two short medium posts, and some stuff on these emblem vaults). There is no explanation there of what Iām asking.
Iām asking a super simple question, and any enthusiast about this should be able to answer this straightforwardly if this thing is ever going to work: what is the relation between these ERC tokens and the ordinal? It is not one of active governance or ownership of the ordinal if the tokens donāt give any control over, or special access to, this ordinal (given that a majority vote is impossible, with half the supply gone). Anyone can see the inscription, no one can move it or auction it, the token doesnāt give you anything with respect to the ordinal. The site confirms that the narrative slips constantly from features of the ordinal (āthe firstā, āon bitcoinā, true) to features of these tokens (which are said to be āthe firstā and āon bitcoinā, false); without a real connection between ordinal and token, it just seems plain deception.
(For what itās worth, Iāve nothing against ordinals, Iāve nothing against memecoins, and Iāve nothing against bringing fun or degen stuff to Sovryn. Honestly, I like the enthusiasm I see here and Iāve much respect for the community members pushing for it. I do dislike narratives that drive on deliberate deception and obfuscation however. If it isnāt that, then, please, someone, just explain in simple terms how the token is meant to derive value from the ordinal, it shouldnāt be too much to ask, right?).
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Who provides the other side of the LP?
I know what you meanā¦
How can oDoge holders claim the token is backed by an NFT that canāt be accessed and is essentially āburnedā and locked inside a vault āforever?ā The NFT canāt be used for collateral or sold so why does oDoge have any extrinsic value?
It doesnāt.
It does, however, have intrinsic value and provenance, which in my opinion, makes it worth something.
Imagine if the French Republic who owns the Mona Lisa said they were going to fractionalize the painting and offered them as coins to the public on a blockchain but said that the Louvre Museum constructed an impenetrable vault at the center of the earth where it would live and could never be accessed because itās been sealed āforever.ā
I believe there would still be demand to own the coins and they would have value because they represent the Mona Lisa and people would have a feeling of owning the painting even though it was inaccessible. The coins would have provenance.
One misconception about oDoge claiming the NFT canāt be moved because theyāve burned more than half the supply needed to unlock the vault is misleading to a degree.
The Emblem Vault is not impenetrable even by Emblem Vaultās own admittance on their Medium post.
- The unlocking service is centralized and can be opened with the intervention of a ātrustedā third party.
- The key generation is still possibly vulnerable to hacks, similar to the risks of an exchange getting hacked. Emblem Vault says that while unlikely, the risks are not zero.
Emblem Vault goes on to say that the team is exploring options to decentralize the service further and provide enhanced security but that a fully decentralized system may never be fully possible due to the nature of the technology.
You canāt rule out that in 100 years, there isnāt a decision to unlock vaults that havenāt moved in the last century or allow token holders to vote and lower the 50% required coins threshold to say 25% via a vote and code change.
In the Mona Lisaās example, with enough will and effort, there would probably be a way to retrieve it again just like there is a possibility the Ordinal could be unlocked either through reprogramming the vaultās code or via hack.
What if one day we have super computers able to crack private keys so we all move to more secure wallet technology but all the legacy wallets would be left vulnerable? It would just be a matter of time before the Ordinal private keys could be found. Or what if in 1,000 years the BTC community voted to unlock sats that havenāt moved in more than 500 years and recycled them as miner rewards? I wouldnāt say the Ordinal is never going to be retrieved again.
I like the project. Itās creative, there is a community being built around it and it has intrinsic value and provenance.
Is it perfect? No. It has its doubts and vulnerabilities, but the vulnerabilities are very low at present day.
I never heard of Sovryn until today and Iāve been very active in the crypto space for 4 years.
Iām now very interested in Sovryn and itās made me excited to want to use it in the future. Iām sure many people will feel the same once they understand and hear about it, but I only came here because of oDoge.
Will oDoge bring the volume of users you want? I donāt know, but Sovryn could benefit if the oDoge volumes continue.
I donāt think oDoge is a scam or pump and dump, but the coinās market is new so it will take some time to know if the market is sustainable. In the short term, it seems the project team is well organized, transparent, has a lot of energy and serious about making this coin mainstream.
Iāve bought some oDoge, so Iām biased, but I would love to trade it on this exchange if it does become the next Mona Lisa.
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they will put both sides in the LP
RBTC and ODoge
Sovryn will not put any liquidity in LP
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How to bump this thread into SIP voting status?
Hi everyone,
I wanted to let you know that 24 hours ago I conducted a poll in Telegram groups. Having reached 100 votes, these are the results obtained:
a) 65 votes in favor of the proposal
b) 13 votes against
c) 22 need more information to take a position.
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