[SlowFi, BitFi & co] What slogan could Sovryn use?

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Hi all,

in the recent town hall there was a discussion on what hashtag we could use for Sovryn.
Yago mentioned SlowFi and he had very good thoughts around it but there were some concerns about it having a negative touch in the public (“slow” might not be optimal).

So let’s gather some ideas. Feel free to post them below, i’ll try to summarize them at a later stage and maybe we can have some kind of vote ot it.

Here are some examples that were raised during the call / on discord:

#SlowFi
#BitFi
#StrongFi
#BiFi

Place your bets and your ideas!

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I like BitFi. Maybe next Town Hall we can discuss Marketing Strategy since we forgot to discuss it.

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I think the “slowfi” concept got a little ambiguous in my own head, but on neither disambiguation would it seem to be something to turn into a slogan or a hashtag:

(A) There is the idea that Sovryn takes a more slow and steady approach with regard to development, bundling releases more, having them be more polished on the UI side before release, having thorough learning materials on their release, etc. This requires a bit more patience, and less constant excitement, which should be Ok for those with the right longterm mindsets.

  • For this I don’t think we need a slogan at all. Indeed, the core development team should develop in whatever way they see fit and feel comfortable with, after all, it should be a pleasure to be on the core dev team. Good that we’re updated in this slight change of approach, but no need to linger on it, or communicate it through a slogan.

(B) There is the idea that Sovryn offers DeFi for high time preference. This would seem to mean that it doesn’t go for DeFi’s typical push for high APYs + strong incentives to stake, which chases a pump (and pop) growth in price. Going this way risks it becoming too much a come-and-go kind of thing; play the high APY rate game and it’s a matter of time before one starts losing that game to newcomers.

  • If this is what is meant, then again, it doesn’t seem to be the kind of thing that one should want to advertise. Could still choose to go down that path of course, but let’s not emphasize it with a new label, that needs to be explained, drawing attention to it. If it’s not the APYs or staking rewards that are meant ot draw people in, there must be something else that draws people in, and then that’s the thing we should be searching slogans for right?
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I would go for

    1. #WoFi = World Finance

or

    1. #GoFi or GloFi = Global Finance

Any of the above will pass the message of what Sovryn is trying to build and not how this thing work which is SlowFi, lets be honest its the same if they tell you to eat vegetables because its healthy. Yeah I agree its healthy but i dont want to hear about it - I am here for the Steak (or Stake). You will not attract audience with SlowFi, but with something like WoFi you will definitely attract attention and interest. It also aligns with what Sovryn is aiming for, to assist Bitcoin in providing financial services WORLDwide.

Some more ideas:

#TrueFi = True Finance

#SteFi = Steady Finance

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What about #SasFi… = Slow and Steady Finance…

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ReliFi - Reliable Finance

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I’m open to a new branding, but it begs the question do we actually need to re-brand or was SlowFi just a way for the core team to describe the rationale behind our pivot and re-focus? Food for thought.

With that said, what about SovFi. Sovryn Finance seems obvious :slight_smile:

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“slowfi” is bad marketing.

Too much to explain.

We know and understand from being involved that Sovryn’s Dev Team is taking a slower and steadier approach. We (well most of us) are investors playing the long game so that development approach is okay.

I agree that the core development team should develop in whatever way they see fit but we are drilling down on a marketing issue not development issue. The change in the development approach need not bleed into the marketing space.

What’s needed for the masses are taglines, hashtags and slogans that resonates with what each audience cares about most.

Let’s go with the angle that Sovryn offers “DeFi” for high time preference individuals with Bitcoin.

I agree this means that Sovryn’s audience doesn’t necessarily go for DeFi’s high APYs and incentives to pump price growth in some other coin (what Maxis consider a shitcoin). That audience wants a highly secure, high quality, highly regarded and respected product. That audience is adverse to parting with their precious Bitcoin. They are highly suspicious of any offers to swap their Bitcoin for something of lesser value (read shitcoin) with the promise of that “thing” being worth something in the future.

Bottom line, the tagline, hashtag or slogan has to resonate across many different audiences without losing it’s appeal. It kinda has to mean all things to all people. High APYs or staking rewards draw in people with low time preferences. Security, quality, high regarded and respect should be what we use to draw in people with a high time preference.

#GloFi makes me think it’s radio active or something, “…does it glow in the dark? Oh, you mean global…”

#GoFi makes me think about Go Pro, “oh is that a new GoPro with wifi? Is it 5G? Oh,…”

#WoFi I get a blank… “What’s that? World Finance? Like the World Bank? Oh, I don’t get it…”

#TrueFi, True Finance… just makes me ask “…what makes it ‘true’? It’s on (secured by) Bitcoin, ok what makes it ‘true’…”

#SteFi, Steady Finance, not feeling it…

#ReliFi, Reliable Finance, too many syllables in the hashtag and too many questions “…what makes it reliable?” Then the first time something is out of liquidity and someone can’t get their funds off the SmartBitcoin network fast enough “… but you said this was reliable?”

I think I got it.

Highly secure
High quality
High regarded
High respect
For those with a high time preference

#SovrynHiFi

Now, older people may ask if it’s some type of sound system ( HiFi was a very popular audiophile term years ago) but the answer is easy. “#SovrynHiFi is a suite of highly secure, high quality, highly audited, highly tested financial tools secured by the Bitcoin network for individuals with a high time preference.”

That has a nice ring to it. It plays off a high quality past association. It conveys the message succinctly.

On a side note. We gotta stop using the RSK moniker… it subconsciously registers as RiSKy… the absolute last thing a high time preference Bitcoiner wants anything to do with…

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Some good ideas and objections. Maybe it is not necessary to use a new slogan and we just stick with Sovryn Finance.

Nevertheless, it is very important to highlight Sovryn’s good features: Reliable, secure, bitcoin native. A financial system that builds on bitcoin and extends bitcoin’s capabilities.

For future conversation, it may be useful to have several keywords and hashtags describing Sovryn at once. Things like this stick in people’s minds.

For example:
Sound Finance for Sound Money. Bitcoin-based finance with Sovryn. #SoundFi
SlowFi. Reliable financial system for long-term growth. #Slowfi
Sovryn. Your Swiss bank account on the bitcoin blockchain.
Put your sats to work with Sovryn. Sovryn satisfies. #SatsFi.

I think it would be great if the Community comes up with some of these slogans and meme’s it around in telegram/twitter etc.

Sovryn extends the use-case of bitcoin. If we want bitcoin to grow further and succeed, we should not let that finance stuff happen on other chains. Bitcoin is most secure, reliable and free and so, good finance belongs on the bitcoin blockchain. Digital gold just isn’t enough. We have to use the asset, and the network.

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Sovryn #TrueFi
Sovryn “DeFi redefined”
Sovryn “SOV DeFi The Bitcoin future”

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lets be honest were building the future of finance with precision and security and a protocol tested to breaking point

Sovryn DeFi #Taking Bitcoin ahead of the game
Sovryn DeFi #Precision and precise Bitcoin finance
Sovryn DeFi #The Bitcoin future is now here
Sovryn DeFi #Financial quality products of the Bitcoin future
Sovryn DeFi #Bitcoin future re-designed

im thinking… thinking…

#Sovryn and Bitcoin thinking and working together. “Brothers in arms”
Sovryn DeFi “Bitcoin finance getting it right first time”

etc…

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We could just be bold and say we are building Web 4.0. LOL

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I do agree that the slogan has to give a highlight of Sovryn’s features but it should also have in mind to catch the eye of the audience that it wants to attract. It should give a feeling to the audience that this is the right place for them and explore more Sovryn’s capabilities. It needs to be something that will be friendly for the common folk, traders are an important part of Sovryn’s ecosystem but the plan for Sovryn is to be available to people around the world who are having simple jobs, everyday people who dont need to be experts in the field to understand what Sovryn can do for them.

#SoundFi is a slogan that is not open in my opinion to common folk - although it might attract attention for those who are in the space. It does remind me of a sound system tho

#SovrynHiFi takes people back to years and the old sound systems. Same to #SovrynVHSFi for Sovryn Very High Sats Finance for those who had videos at home.

On the other hand, something like #SatsFi describes a system for Bitcoin Finance. I would still go for something that is ambitious, sure we want to show to people the features of Sovryn through the slogan - but how the normal people will understand that it is the perfect choice for them.

Think it like this, you are a person who has no idea about Sovryn and its finance, and you see a Sovryn adv in a billboard next to your house. If Sovryn’s goal is to be open for everyone around the world and provide services to millions/billions of individuals what will make you curious or attract you to take out your phone from your pocket and search about Sovryn? Slogan is one of the parts of the adv that you are going to read. Adv have 5-8 seconds max to make an impression to you. Surely you will read other parts on the add, but you are going to get an overall opinion after those 5-8seconds that will prompt you or not to check for Sovryn.

Slogan whether we like or not will be part of marketing and it will be something that will define Sovryn’s character to the masses. It should be inclusive and also refers to bitcoin, freedom, decentralization, and it needs to be smart and ‘‘catchy’’ if possible. (I have to admit that maybe I overanalyze this a bit, personally I find it very vital to have a slogan that will be attractive to the masses. SlowFi is really very bad slogan for them)

Looking forward to see people really contributing to this one as it is an important topic.

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While I’m in favour of the above (and similar) examples, it bears noting at this juncture that a ‘high’ time-preference in fact means the opposite of what you’re trying to convey.

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#Sovryn DeFi

… these are all too long but I’m thinking out loud so someone gets inspired to get it right…

“your Bitcoin in your hands working for you”
“quality Bitcoin financial products from the future but ready and easy to use now”
“secure fast simple to borrow lend or trade with Bitcoin made easy”
“secure trusted and simple Bitcoin finance products for everyone”
“Sovryn’s team for Bitcoin products was to get it right and they did! Try it!”
“Bitcoin and Sovryn with smart contract on a smart chain and a smart choice”

im gonna stop now before someone tells me to SOV off :slight_smile:

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#POWFi

Finance on top of [Bitcoin] proof-of-work

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Leaning into the Bitcoin connotation but also evoking our ‘mutant’ ethos, with an alliterative edge:-

Sovryn #SuperFi:

Super-secure DeFi. Built on Bitcoin.

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@Martin_Adriaan - Good job with the disambiguation. While I think it is both (A) and (B), I was specifically looking to highlight that we should focus on sustainable wealth preservation and growth. And further, that this should be focused on putting Bitcoin to work, in the first instance.
I agree with you that the leading brand and messaging should focus on the key benefits to users.

As @dseroy suggests, my use of the term “slowFi” was more to draw a clear path for us as a community. It was intentionally via the negative: as a way to highlight what we want to say ‘no’ to.

I think the brainstorming here is awesome.

I very much like @Sacro’s emphasis of sound finance>
“Sound Finance for Sound Money. Bitcoin-based finance with Sovryn.”
@SOV_HOOLIGAN’s idea of SatsFi is also quite clever I think.
Others like PoWFi are also good.

I think the interesting challenge is being able to explain things in quick soundbites. So different Sovryn products could each have their own 1-line explanation. Any ideas around that?

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Personally I like #SafeFi, by going slow and polishing, we are creating a space where people can use thier BTC in a way that is as close to as safe as keeping on mainchain.

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If we want to promote an idea through the name howabout #Trustfi