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In February of this year, two-way FastBTC went live on Sovryn. In crypto land, that seems like an eternity ago. So much has been happening since then! FastBTC is a fast, convenient way to exchange BTC for RBTC, with a processing time of only one block. Pretty awesome, right? More recently, we launched the early access waitlist for Zero, one of our flagship offerings which allows you to take out a line of credit against your bitcoin at 0% interest. Truly game-changing stuff. But these innovations on Sovryn have not stood still.
In our last release notes, we announced the completion of our backend migration work using The Graph protocol to improve the performance and reliability of data loading for the dapp. This was no mean feat. The rockstar devs here at Sovryn yet again went above and beyond, taking The Graph software as the base layer and building upon it to make it compatible with RSK.
In this latest installment of the Sovryn release notes, we’ve got updates that many of you have been requesting.
Let’s dive in…
Based on the feedback we’ve been receiving since giving the community early access to Zero, we’ve now added support for connecting directly to Zero using a hardware wallet!
This has been the number one request since we launched the Zero early access. Whatever you would use your Zero loan for—and we’ve heard many great ideas from the community—our goal is to make it as frictionless as possible for you to own your financial decisions.
Previously, users could only connect to Zero using an injected web3 wallet. Now, once you’ve been onboarded from the waitlist, you can also connect directly to Zero using your Ledger or Trezor hardware wallet. We truly understand the importance of this update and we thank you kindly for your patience.
We’ve increased the RBTC to BTC swap-out limit to 3 BTC. This now matches the FastBTC swap-in limit.
We were confident in our decision to go ahead with this update. Sovryns have been using FastBTC swap-out with lower limits for several months now, and this experience confirms the safety and reliability of FastBTC. We have also received the audit report of a very intensive code review performed by Least Authority. No security issues were found. This was in fact the third audit report we’ve received for this feature.
We’ve renamed “TVL” in the Zero UI statistics section to “RBTC in Lines of Credit”. The Liquity UI—from which Zero is forked—defined TVL as "the value of all the collateral in the protocol". However, when we added Zero TVL to the Sovryn statistics page, we calculated TVL by adding "the value of all the collateral in the protocol" plus "the value of all ZUSD in the Stability Pool", in line with how DeFi Pulse is measuring TVL for Liquity.
To resolve these two definitions, we simply renamed the line "TVL" in the Zero statistics section of the Zero app to "RBTC in Lines of Credit", since that's also an apt description of what's shown.
We’ve added the ZUSD balance in the BabelFish aggregator to the Zero statistics. In case you're wondering how much ZUSD liquidity the BabelFish aggregator has, we now show the ZUSD balance of the BabelFish aggregator in the "Zero statistics" section of the Zero app.
The ZUSD supply is now shown to two decimal places. Previously, the ZUSD supply was rounded to the nearest thousandth-place, e.g. 123k. The ZUSD supply is now expressed to two decimal places, e.g. 1,234,567.89
We’ve removed the trailing zero when entering an amount with less than four places after the decimal. Previously, the Zero app added a trailing zero in the terminal decimal place. This was unnecessary, so we’ve fixed it to get rid of this trailing zero. The terminal decimal is now a non-zero number.
We’ve fixed a compatibility issue with Liquality wallet. Previously, a bug was causing transactions created using Liquality wallet to trigger a "failed" error message, even though in the background the transaction would actually go through and get confirmed. This bug was fixed, and now Liquality works as expected.
Last but by no means least, we’ve added a fix for backwards links when connecting to the dapp on the wrong network. Previously, if you connected a registered address that was on the wrong network (e.g. you're on https://live.sovryn.app/zero but your wallet is connected to RSK Testnet) then the app would tell you to connect to the correct network, but it was linking to the wrong network. This has been fixed so that the network linked to matches the network that your wallet is connected to, in case you visited the wrong network URL by mistake.
Read about the advantages of a Zero loan over CeFi alternatives...Read More