DURATION
The competition will run between 2-8.10.2023
The top 5 traders in each category will be rewarded significant cash prizes, given out in Sovryn Dollar. Anyone can win!
Welcome to the first fully transparent and secure digital dollar. The new decentralized stablecoin backed 100% by bitcoin.
An ultra-stable, decentralized stablecoin—aggregated from other bitcoin-backed stablecoins and pegged to USD. The Sovryn Dollar cannot be censored, since there is no middleman.
A highly-liquid stablecoin that you can easily convert to bitcoin, dollars, or other stablecoins. DLLR is a great form of payment, and diversified capital, that will always remain liquid.
Low gas fees, alongside stability and reliability, make DLLR the perfect form of BTC-backed digital currency.
To trade on Sovryn, you will need a Web3 wallet compatible with the RSK network. Complete information is available in our wiki.
[Placeholder text] We will post a daily video choosing that day’s reward category by the roll of a single D6 die. 56 rewards will be given out in total!
Earn interest on your bitcoin. No sign-up required.
Total volume lent
Total SOV staked
SOV/RBTC APY
Earn passive income on Sovryn. Stress-free.
Sovryn allows you to earn a passive income through lending, as you accrue interest on your funds. Enjoy lending on a decentralized platform that requires no sign-up and never takes custody of your funds.
earn interest
Lend your assets directly to borrowers or to margin traders.
Maintain control of your funds, on a decentralized platform
that’s built on the security of the Bitcoin network.
The Sovryn protocol dynamically adjusts interest rates to reward
lenders for the cost and risk of illiquidity.
Sovryn lending is entirely non-custodial, and has no prepayment
penalties, so lenders are free to redeem their lent assets at any time.
Lenders can offer liquidity to a pool of their choice with a single
token, and maintain 100% exposure to solely that token.
Liquidity providers can earn both fee and liquidity mining rewards.
Users can deposit two assets in double-sided liquidity pools;
via Sovryn's Automated Market Maker (AMM).
Earn rewards in SOV awarded on a weeky basis.
As well as giving you the right to vote in Bitocracy, it seriously pays off to be an SOV staker.
start stakingStakers earn a pro rata share of Zero borrowing fees in ZUSD
and redemption fees in RBTC.
Stakers earn RBTC rewards from AMM revenue.
Stakers earn RBTC rewards from legacy lending and borrowing
protocol revenue.
Stakers earn a share of SOV from users who unstake before the
end of their staking period.
To trade on Sovryn, you will need a Web3 wallet compatible with the Rootstock network.
The competition will run between 2-8.10.2023
Profit & loss (P&L) in the registered user address will be used to evaluate performance in the competition.
P&L will be calculated in DLLR (Sovryn Dollar) based on price changes in assets whose quantity held has changed through a swap. We will consider swaps among all assets supported by the Sovryn AMMs. Margin trades will not be considered in P&L calculations for the competition.
These are the criteria for the competition:
Any swap will be taken as a position adjustment for competition purposes. Profits will be tracked relative to the original asset position before the swap.
In the case of profit percentage (P&L %), profit relative to the original asset position will be divided by the value of the acquired asset at the end of the competition and multiplied by 100.
single swap P&L = -FROM_AMOUNT*FROM_PRICE + TO_AMOUNT*TO_PRICE
single swap P&L(%) = (single swap P&L)/(TO_AMOUNT*TO_PRICE)*100%
Example:
*calculated at the end of the calculation using final prices
Note that both P&L and P&L(%) will be tracked in real time using current prices for all assets during the trading challenges.
With only 50 spots available - and 56 prizes! - inviting friends to our discord is a surefire way to move up the registration queue. Generate your unique invite code by clicking the Sovryn channel logo -> Invite People -> Copy. Send to your friends and tag us! If you’re not on the discord yet, please join:
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Only active SOV stakers can participate. You can start staking now if you haven’t already.
Invite friends to our discord to move up the queue.
Any random swap could win. The more you trade, the higher the chances you'll win!
Current structures are failing. Power remains in the hands of few. We’re one bad decision or move away from losing our freedom. And if history repeats itself, collapse is inevitable.
Current structures are failing. Power remains in the hands of few. We’re one bad decision or move away from losing our freedom. And if history repeats itself, collapse is inevitable.
Praesent commodo cursus magna, vel scelerisque nisl consectetur et.
This is a daily rewards-based trading game exclusive to active SOV stakers. Participants can improve their position in the game by inviting members to our Discord community. We're hoping to launch a broader rewards program with more participation slots and more awards based on the results of this pilot.
