Sovryn Genesis Sale Event is Live

brought to you by Yago

Sovryn Genesis pre-order system is now live on the mainnet. You can find it here: https://live.sovryn.app/genesis.

On Sunday, January 24, 2021, the vote to activate the pre-sale (SIP003) will start. If this vote passes, Genesis pre-ordering will be activated at about 2pm GMT. 1.8m cSOV will become available for reservation at that time on a first come, first served basis.

It is recommended that if you wish to request a higher code, that you do this before the pre-order system is activated. If many people enter their codes at the same time, minting the NFTs could take time. To avoid delays, enter your code and mint the NFTs in advance.

Additionally, please be aware that the throughput of the Genesis reservation system is about one transaction per second (due to the bridging mechanism with Bitcoin). Therefore, if there is a high number of requests to the system, it may take several blocks for your transaction request to be confirmed.

Reservation Staking

Reservation staking enables Sovryn users to stake funds to receive cSOV tokens and thus reserve $SOV, which is the Sovryn risk-bearing token and which allows users to participate in the Sovryn Bitocracy.

Staking can be done with either BTC or RBTC so you do not need to convert RBTC in advance. The reservation system will provide you with a unique Bitcoin address if you wish to stake BTC. You should be able to transfer BTC to this address from almost any Bitcoin wallet. If you are holding your funds on an exchange or wallet that for some reason will not allow you to transfer the funds directly to Sovryn staking, you will need to transfer the BTC to your own wallet first. You should be doing this anyway: not your keys, not your coins.

Important Points about Genesis

  1. We’ve been working on processing an overwhelming number of requests for higher tiers. However, there have been more than we could possibly fulfill - because we want to allow as many Sovryn early supporters to have the opportunity to participate as possible. We don’t want the reservations to be taken up by a small number of power users.
  2. The Genesis interface is live. It allows you to:
  3. View your tier
  4. Increase your tier with any codes you have received
  5. Request a higher tier
  6. The funds sent to the protocol during Genesis are redeemable. If you decide not to convert to SOV, you can redeem your funds.
  7. It begins on Monday, January 25th, 2pm GMT

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