Sovryn Announcements
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The Official Sovryn Announcements Channel

Official Community Group: https://t.me/SovrynBitcoin
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The integration of Runes into sovryn.app is progressing smoothly

• A significant milestone was achieved by Etching POWA•RANGERS•GO on the Halving Block
• The Runes Bridge has passed the testing phase and is prepared, but it will remain in maintenance mode until further notice

We are carefully monitoring the space and will gradually introduce Bridging, Distribution, and Trading features - but not necessarily all at once due to the unstable and in flux Runes market.

Stay tuned for further updates!
You're in luck! Sovryn Runes & Extra Spice Points - EXTENDED

This is your chance to collect even more Points, now ending on Apr 30th!

Powered by BOB Fusion, depositing with Sovryn gets you:
• The same Spice points as BOB + a 50% bonus
• Rune Points

Deposit link ⬇️
https://gobob.sovryn.app/
Big BitcoinOS update is coming in today! BIG!

Please follow this account ⬇️
https://twitter.com/BTC_OS
The crypto world can be divided into two periods:

• Before Bitcoin Rollups
• After Bitcoin Rollups

Today, BitcoinOS released a whitepaper that takes us into the second period.

Before Bitcoin Rollups, developers launched a new chain every time they thought they could do something that Bitcoin could not.

After Bitcoin Rollups, everything can be done on Bitcoin. Instead of new chains, we will have new Bitcoin Rollups.

*DeFi?
*Low cost transactions?
*BTC-Backed stablecoins?
*Private transactions?
*DAOs?

All this will soon be built on BitcoinOS.

Sovryn will be first to Launch a BitcoinOS rollup, bringing the power of DeFi, secured directly by BItcoin to the world ⬇️
https://www.bitcoinos.build/
Sovryn DEX 2.0 is now live on BOB!

Live features:
• Swaps
• AMM LPs with Spice and Rune points + trading fees
• SOV staking on BOB

Borrowing, lending, margin trading and more to follow.

DEX 2.0 is the swiftest and most cost-effective dex on the market ⬇️
https://sovryn.app/

More details in our Article ⬇️
https://x.com/SovrynBTC/status/1788539496255897641
Runes, POWA, and New Trading Pools!

We're thrilled to announce the arrival of Runes at Sovryn! Our newly launched Runes bridge allows for seamless transfers between Bitcoin and Sovryn on both RSK & BOB, ensuring a fast and cost-effective trading experience.

In addition, POWA, our Halving Block Rune, is now available for claim through our dApp for members who participated in our Powa Points Program. Claim your POWA today by following this link ⬇️
https://sovryn.app/claim-POWA

Moreover, we're excited to introduce trading pools for $POWA, making it the first Halving Block Rune available for trading on Sovryn. Get involved in the trading action in the following pools:
• POWA/RBTC on RSK
• POWA/SOV on BOB

POWA TO THE PEOPLE!

More details in our latest Article ⬇️
https://x.com/SovrynBTC/status/1790672270110679500
Dev Update

We added a Spice points display and Leaderboard to our dApp where you can check:
• Initial deposit balance
• Spice
• Extra Spice
• Rune Points

This feature comes in handy when you want to check on your latest Season 1 Spice rewards.

Additional upgrades:
• Amount inputs now accept higher than 999,999,999 units
• Zero: Enforce consistent rounding on the collateral ratio
• Staking: Non-UTC timezones will no longer prevent staking to max length
• Force claiming of LM rewards after reaching 33 unclaimed checkpoints in order to prevent cases where rewards cannot be claimed

Check it out Sovryns ⬇️
https://sovryn.app/
Our FastBTC-Relay has been put into maintenance mode!

The Deposit, BTC -> RSK side

Due to a big influx of BTC to Rootstock using Sovryn, FastBTC pools will need to be rebalanced.
Adoption Fund Update

Per SIP-79, the Adoption Fund's SOV will continue to harvest BOB's Spice Points in Season 2. Funds are staked until May 28th, with an option to renew staking every two weeks or deposit in the Sovryn DEX at a high price to increase TVL.

After Season 2, the SOV returns to the Adoption Fund.
Our FastBTC-Relay is fully operational again!

Stay Sovryn
Our FastBTC-Relay has been put into maintenance mode again

➡️ BTC -> RSK - The Deposit side

Over the last three days, we have seen BTC inflows that are 8 times higher than our daily average. This requires us to rebalance the system and reconfigure liquidity to address this increase.

Additionally, we have not only seen significant inflows on FastBTC, but also in terms of Stablecoins through the BabelFish aggregator, which noted an 85% increase of stablecoins bridged from Ethereum and BNB Smart Chain blockchains.

We expect the system to be online soon and are working on a permanent solution.

Stay Sovryn
Development Update

➡️ gobob.sovryn.app
• Updated estimated spice rewards display with a link to the Season 1 leaderboard on sovryn.app

➡️ sovryn.app
• Resolved tooltip positioning issue that was causing the stats page to break on small screen sizes
• Addressed edge cases in the smart-router to ensure fallback routes are returned when available
• Corrected RSK BTC stats display label on the landing page
Compensation for WBTC and tBTC Depositors to the Sovryn DEX on BOB Network

We wish to address an important matter concerning some of our depositors during the recent launch of the Sovryn DEX on the BOB network.

During the initiation of our DEX, WBTC and tBTC depositors experienced an unusually high divergence in prices. While price fluctuations are part of the inherent volatility typical in the cryptocurrency space, the divergence observed was beyond a reasonable range.

At Sovryn, we are committed to ensuring fairness. We understand the importance of trust in our community and strive to uphold this in every aspect of our operations.

To address this situation and align with our commitment to our users, we are issuing compensation to all affected WBTC and tBTC depositors. This compensation will be in the form of SOV tokens, calculated based on the discrepancy in the price divergence experienced by each depositor.
Affected users will receive SOV tokens directly to their wallet addresses on the BOB chain. We anticipate to finish the compensation distribution today (23.05.2024).

For any inquiries or additional support, please reach out to our support team through the Sovryn.app (bottom right corner). To ensure safety and avoid potential scammers, this is the recommended channel for support communications.

We deeply regret any inconvenience this may have caused and are taking proactive steps to prevent such discrepancies in the future. We value each member of our Sovryn community and thank you for your continued support and understanding.

Stay Sovryn
Our FastBTC-Relay is fully operational again!

To address the issue of high volumes rapidly draining liquidity, we will be raising the fees for FastBTC. We're seeing unprecedented whale activity on FastBTC, and to ensure stability we are raising the dymanic fee to 0.75%. This raise will not have a significant effect on smaller transactions, but whales transacting in large sums will have to pay higher amounts to cover overhead costs.

• Static fees = no change
• Dynamic fees = up from 0.2% to 0.75%

This change is necessary to ensure continued service amidst a massive increase in volumes and to facilitate fast bridging into and out of the RSK ecosystem.

Thank you for your understanding and continued support.

Stay Sovryn
Liquidity Mining (LM) Withdrawal-Locked Vestings: Proposed Solution and Course of Action

The Issue
With the current Rootstock block gas limit (6.8M units), the amount of unlocked stakes that can be withdrawn at once in a single transaction is 42. The transaction will fail if a vesting contract has more than 42 unlocked stakes. There is no way to withdraw the vested stakes in batches for these older vestings.
So, when a vesting contract gets 43 unlocked stakes, it becomes a non-withdrawable vesting.
There is also no way to link a new LM vesting contract to the same address that owns the affected LM vesting contract.

Proposed Solution
The Treasury decided to compensate affected liquidity providers with the full amount of non-withdrawable SOV rewards.
This compensation will be distributed over three months in three equal monthly instalments.
Compensation will be based on the total amount accumulated by May 29th 11:59 PM UTC. You will not receive additional compensation if you do not remove the liquidity and continue accumulating SOV after this date.

Stay Sovryn