14 Mar 2021

Hello Sovryns!

In addition to our bi-weekly meetings and community update, we will be bringing you monthly development updates for the extra nerdy people out there, who like to delve in-depth.


A short summary of our development update are:

Oh Boy, the long version ;)

Now let’s see the long version how the team moved forward in the month of February.

TGE: We have launched our token SOV which will be used frequently in our system, rather than just being a speculative instrument.

Bitocracy: We have also moved to our own Governance 2.0 or Bitocracy as we call it. In these early stages, we have separate mechanisms for critical and normal changes. Rest assured, as time passes this is going to be one of the most decentralized systems in the Blockchain World.

Hardhat: Until now, we were using Truffle and Brownie for testing, and for that reason, our actual code coverage was difficult to understand. We also had a different mechanism for deployment using Brownie. Now, we are on the path to convert all our tests to JS thus getting a unified code coverage report and very quick response on the overall testing.

Arbitrum: Although RSK is about 100x efficient in terms of Gas Price compared to Ethereum, it doesn’t mean it will be for long. We need to focus on presenting a near-instant, low, or gasless execution of transactions. For that, we are striding forward with Arbitrum Rollup technology, and hopefully working to integrate that into our system to provide our community with the best possible experience.

Referral Mechanism: We were working on the development of an affiliate system for our products to earn that extra for our enthusiastic community members.

Token Pre-sales: We completed our Genesis and Origin Token Pre-sales in record time. Our devs worked really hard to make sure everyone had an awesome and smooth experience.

UI & UX: One of the most important feature any Blockchain product can offer to the community is a smooth user experience. Our developers are leaving no stone unturned to make that possible.

FastBTC: We have been working on a new, improved, and much more decentralized version for pegging BTC into Sovryn effortlessly. FastBTC is in the works, which will bring a fast way to peg OUT of Sovryn.

Arbitrage: We are working on a system to bring in more consistent pricing to other markets using our own node to keep the market at a balance.

Here’s a list of short updates from the Dev teams:


The main work included:

Frontend & Analytics:

The main work included:


The main work included:

Backend, Infrastructure & DevOps:

The main work included:

For more details about the Sovryn tech stack, its use cases, and the SOV token see the Sovryn Black Paper.