Vote Now for SIP-0031: Splitting AMM fees with stakers 👇

https://twitter.com/SovrynBTC/status/1469402713851006977?s=20

Update on the Bridge's BSC Stablecoin liquidity:

Stablecoins are readily available on the Ethereum network and we see a lot of stables being bridged into RSK/Sovryn from Ethereum. We have some, but far less stablecoins being bridged into RSK/Sovryn from the BSC network.

Tx fees to bridge out to Ethereum are far higher than the fees to bridge out to BSC.

Both of these factors result in a lot of ETH-stablecoin inflows and a lot of BSC-stablecoin outflows, meaning we frequently see the outflow liquidity of stablecoins on the BSC side depleting. This means funds constantly need to be transferred to facilitate bridging out to BSC. We are aware and usually, in the event of depletion, this is rectified quickly.

Regardless, this is a rather slow and manual process that will become better over time with more automation and monitoring tools being implemented - as well as further efficiencies that can be made to reduce the ETH bridge-out fee. For now, we are targeting having BSC-stablecoin liquidity by the end of the week. There is liquidity in other assets available in the meantime. Thank you for your patience and stay tuned

Attention Sovryns 📢

Due to an issue with the SOV price feed/oracle, Margin Trading and Swaps/Spot is in MAINTENANCE MODE ‼️

A further announcement will be made as soon as the maintenance mode is lifted and the Dapp is fully operational again 👨‍💻

The maintenance mode has been lifted 📢

The Sovryn Dapp is fully operational again ‼️

Thank you for your patience and always remember to Stay Sovryn 💪

We are continuing to roll out HW wallet improvements 👨‍💻

It started with SOV staking last week and now we upgraded lending pool deposits and withdrawals 🎉

Gas limits have been increased so that users will not be experiencing failed transactions ‼️

More info 👇
https://github.com/DistributedCollective/Sovryn-frontend/pull/1949

Attention Sovryns,

A quick update on the AMM Fee Split:

When we deployed the AMM fee split on Monday, we updated the converter contracts of the AMM to charge a protocol fee.

However, we realised too late that the rateByPath function of the SovrynSwapNetwork Contract was not applying the protocol fee.

This resulted in two things:

Estimated prices were 0.05% different from the actual prices
Some issues when closing margin trades

Therefore, to fix the issue temporarily, we set the protocol fee to 0.

What’s next?

We are now working on another update of the converters, so the protocol fee is considered as part of the conversion fee. This will grant us the same fee split functionality and solve the rateByPath problem without requiring a replacement of the SovrynSwapNetwork Contract.

Thanks again to the whole Sovryn community for your patience and support 🖤

Stay Sovryn!

🌊 Liquidity Boost on Sovryn Dapp 🌊

Since there is a high demand for BSC stablecoins on our bridge, we decided to add liquidity on the Binance Smart Chain side 🚿

We believe Bitcoin & crypto are about free choice - and we aim to provide you as many options as possible to #StaySovryn

End of Year in Bitcoin - Sovryn Tea - Thursday 18:00 UTC 🎙 🫖
https://twitter.com/SovrynBTC/status/1475867914284802048?s=20

Sovryn Blog

The crypto universe is expanding rapidly & new projects are launched every day✨

Staying on top of things could be a full-time job! 👨‍💻

To bring clarity to this opaque sea of crypto assets, let's discuss some of the differences between coins and tokens 👇
Go to Sovryn Blog and read the full article

EOY in Bitcoin Twitter Space Starts in 8 Minutes 👇
https://twitter.com/SovrynBTC/status/1476611683053416449?s=20