any investor worth its salt when looking at projects in the risk category as Sovryn will only say that he token is extremely oversold and undervalued
3 Likes
We do not say that price is not important.
We say itās should not be the number 1 priority.
I understand how it can be counter-intuitive, but when you truly understand Sovryn/$SOV fundamentals, the current price is just a big opportunity to join.
We need guardian of those fundamentals, we need dev that can trust that those fundamentals will be protected and defended, so that they can maintain their sense and their motivation. I think they actually need our recognition more than anything else at this stage !
Once this is acknowledged, we can begin to work and to start solving issue one by one.
Otherwise it would induce a bias.
For the best : I think that everybody who is voting/influencing here, should pass like a visa to show that he has actually made the effort to read and understood the fundamentals of Sovryn
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What is ignorant about it? This proposal lays out what is wrong with Sovryn at the moment and what can be done about it to improve it. Ux/UI doesnāt belong in this proposal because it needs no SIP to implement it? GOOD! But it belongs here imo because we need to see the whole picture.
You think I donāt know how the governance works? Think again.
And iāll say this: you want to downplay me by saying iām ignorant. But itās you who wants to draw attention on a meaningless detail (UX/UI doesnāt belong in a SIP) instead of addressing the real issues and concerns about Sovryn.
Now i ask you. Is the project on the right trajectory the way itās going now?
The way i see it, adoption, userbase, growth,ā¦ weāre at a standstill and if this continues, other projects will SURPASS Sovryn. Please donāt think youāre set because Sovryn is a great idea.
8 Likes
If we could identify potential Sovrynās challengers, I think that could be helpful and lead to strong ideas.
You have some in mind ?
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Iām not saying price is the number 1 priority (3rd part of the message youāre replying to).
The issues that are addressed in the proposal are the important things. Price follows.
It is not counter intuitive to see a low price as a huge opportunity. But this means that Sovryn will have to deliver. As i said, the moment other projects surpass Sovryn i think it will become very difficult. This is my fear. Please look into BZRX, one of the first defi on Ethereum. Youāll see where it is now.
I agree with you about that.
The problem is that those investors are in a minority. Majority of investors are not as savvy as OG bitcoiners and sovryn wannabes.
We need to make sovryn more appealing to that majority.
Which means removing obvious red flags and complications, and putting good thing in the spotlight.
Tokenomics donāt look good to new people.
Ux/ui isnāt inviting to new people.
Where do you expect growth to come from?
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What has to be crystal clear is that defi is about money and money is about GROWTH. Money is materialised energy. When there is sustainable growth, in that dynamic more possibilities open up naturally.
Decentralised, long term, safe, all important, BUT chances of a project are annex first to a fight to survive. Look at nature, which should be the main inspiration of everything we do as humankind. Adapt, grow, multiply according to a strong belief with a strong programmatic nature (genes) but with growing pains and sacrifices. Sovryn lost all momentum, so much more so than other projects. Is that fine with you? Is this different next month, the next bull run phase? Is Sovryn ready for that? No. Itās kindof crazy to say to this involved group of yearlong hodlers theyāre in for pump and dump.
This project is called Sovryn but I donāt see any characteristics of real sovereignty here. A clear vision, a strong arm, having balls, and most of all a natural winners mentality.
NB: 3/5th of my sov is staked for 3 years (and i have a lot of it)
5 Likes
It is too easy to address the problem through the price issue : most of people will obviously agree with the principle of pumping the priceā¦ easy money bias in the background.
Bitcoin was not meant to be pumped&dumped - it was meant to offer a mean to free people who understand it.
Same with Sovryn.
Price will be the consequence.
If we make price as a goal, it will never reach the trillion potential value.
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Portaldefi is one.
Type in defi for bitcoin and there will be others popping up. Havenāt done research on them. Still think Sovryn is in the lead but as i said, crypto moves fast.
We cannot take this lead for granted. Sovryn needs to improve because there is basically no growth at the moment.
And trust me i want this project to succeed so bad. I am a believer. Staked almost all of my SOVās so in it for the long term.
3 Likes
You can get 100 people like pomp to invest. Great. You are all set, right.
Bull.
Why would pomp and other VCs invest in sovryn if there are no new users they can dump their tokens on?
You all want to sell your millions of tokens between 100 of you, until price goes to oblivion??
But if you get 100mill or 1 billion from VCs, is that growth you wish for? Is that good for Sovryn?
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I defintely agree with the need to deliver, otherwise there will be nothing to argueā¦
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Yago is a great visionary and a peopleās person and some people on his way have been misusing his approach imho. I only can hope that the core team has leadership skills to manage the whole situation.
Notwithstanding, I have some simple thoughts of how to look at Sovryn:
Sovryn is different as its focus and believe is only on Bitcoin. Use that strength and go for the hardliner.
Sovryn is not a mass product as onboarding is by far too complicated.
Sovryn is a Bitcoin boutique.
On the other side, Origin is not very well executed nor perfectly managed as far as I can see the whole situation.
What do I want to see? Very professional management skills and leaders to get the vision back on track. Or was there ever a track? Snafu
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Price is not a goal but the consequence, yes!! We are not saying price is the no.1 issue. We donāt want pump and dump. We want the issues which currently exist to be addressed and handled. This will have an impact on the price as a consequence we believe. But most importantly, it will attract new users and keep them with us for the long term. Which will make Sovryn grow.
I totally agree with these propositions, particularly with the token burn.
Sovryn tokenomics are terrible. So much tokens to come. A fully diluted market cap of 367M right now. 10BN if ever the price goes to $100ā¦ Come on, thatās too much tokens and absolutely no room for the price to grow.
Adoption fund must be burned right here right now to ignite an healthy market reaction.
I would be in favor of burning the entire adoption fund, burning 50% of the teamās tokens, but not locking the rest of their tokens.
The burn advantage is that it would be immediately visible on the Sovryn pageās on CMC and Coingecko.
Immediately Sovryn would pass from terrible tokenomics, to an attractive project to invest.
The team tokens value could be multiplied immediately and they could do with it as they see fit, so they did not loose on the operation, but we could all benefit. And then this GOOD project could survive.
I agree to point #2 in a logical of global simplification of the platform usage
And for the point #3, user ease of use is the graal. Think about google that is the simplest main page in the world, and the most worldwide used.
6 Likes
I donāt think that much about selling my tokens . What I think of the most is how I increase my stake to earn more fees/rewards
I urge he BCW specially DMAN, to show their long term support for the protocol and stake their tokens for the max staking eriod which is 3 years. They ask the devs to lock their tokens for 10 years, it might be beneficial if BCW show dedication and lock their tokens and there will be plain and even ground for discution.
8 Likes
I would have no problem doing so, most of my tokens are already staked but for 1 year at this moment. I have no problem staking them for longer if the actual team working on Sovryn would show they are dedicated.
This is where i think our misunderstanding lies.
Price is not the priority here, nor does Dman want to just pump the price.
The whole project seems to be in a downward spiral and this SIP is to shake it out of that, and restart.
There is no appeal to new people. If it continues that way for much longer, Sovryn wonāt make it. Many people share this view, obviously.
The purpose of this is to drastically change stuff and do it quickly, because a lot of time has been wasted and crypto does move fast.
Changes proposed are drastic and would likely cost some people some rewards, but the desired outcome is for sovryn to succeed and establish itself before anyone else.
Would you rather 100 tokens in rewards every week at price of $3 and declining every week, or would you prefer 20 tokens in rewards per week, at the price of $30 and climbing every week.
I donāt understand how more people donāt realize itās a sinking ship currently.
Is this the only high staking rewards project you guys have been in on??
Donāt you know how they end??
7 Likes
Iāve read all the info - both AMAās and the whole discussion here.
Some changes are needed - that is the fact.
Some of them will require SIPās being voted and accepted, but UI/UX does not need a SIP and IMO it should be on top of the list. Why? If the UX is better, it will have an impact on the general sentiment and all the other aspects of the protocol.
I would suggest making 2 proposals out of it, to make it more digestible and to have the discussion focused on proper shaping them.
-
Tokenomics/Tokens burn/ Tokens Lock
Slowing down the release schedule and some locks are worth considering, as it has a good chance to change the sentiment. IMO it could be quite easily implemented - if the majority will decide so.
Token burns - I believe that it is not needed. Some tokens will be lost anyway.
Number of tokens does not really matter. This is just a number, although people tend to give it too much credit. They all want to own a whole number of coins. Fractions are way too hard for many to comprehend. Many donāt buy BTC, because they cannot afford to buy 1 whole coin. What counts are the % amounts of tokens held held by particular holders. Just as an example - there is this Fraction token - with total supply of 1, and you can never own more that just a fraction of Fraction. -
Staking lock removed.
It raises some important questions and issues to deal with in the future. The most important one is how it will affect governance - so the primary use case of the SOV tokens? So far staking is for Voting Power and rewards.
Loyality bonus - could You please elaborate a bit more? Should it affect Voting Power too?
14 Likes
Letās change the title of this SIP so 
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WHAT bigger proof do you need to see other seeing the actual work being done whilst token price went from 80 to 2? The funny thing is the github was busiest when token was at the lowest points. There are definitely things to upgrade specially in communication but a more dedicated team than SOVRYN CORE you will not find
6 Likes