We going live…. on a Tuesday
SOVDEX, the new algorithmic DEX is now live. You can trade SOV with instant liquidity against 7 hand selected digital assets including EOS, DAPP, NDX, TPT, DICE, PEOS, and PGL. Whenever you trade on SOVDEX, we never hold your funds. The smart contract sends your tokens immediately after you send tokens to buy or sell.
SOVDEX also adds the following utility to SOV: Burn SOV to Mine SVX, Use SOV to list other tokens, Send SOV to instantly rent CPU, NET, or buy RAM. And most importantly and most often overlooked, liquid speculation, and arbitrage.
Read the White Paper here https://drive.google.com/file/d/1dbxZNBhnCDSosqZxyRRRsJZ8FwGNmSUQ/view?usp=sharing
Read the Technical Summary here https://drive.google.com/file/d/1405jzfd6t0pzZCxp-NM0K_mxTw6znPJD/view?usp=sharing
Trade SOV / Burn Mine SVX here https://sovdex.github.io/sovdexbeta/
SOVDEX front-end Boilerplates with main functions for those who want to design front ends https://github.com/sovdex
And don’t forget to join the EOS SOV Telegram Group to learn more directly from team at https://t.me/eossov
Please remember to initialize SVX before trading or attempting to mine
Example of Trading Receipt
SOVDEX’s utility token, SVX, is only earned through mining, and you can only mine by burning SOV. You mine SVX when you trade SOV on SOVDEX or when you burn mine SOV. SVX can be staked, and staking will get you up to 75% off trading fees and up to a 50% bonus in burn and trade mining reward. It will also provide an optional burn subsidy for your trading after you reach the highest level (can’t mine without burning SOV so can’t mine with subsidy enabled).
SVX will be rewarded at a dynamic rate similar to EIDOS, but unlike EIDOS, it the reward will decrease over time and is a combination of Proof of Burn and Proof of CPU. This was chosen to make the distribution as fair as possible, increase SOV’s deflation (any burning of SOV increases everyone’s stake instead of all the SOV going to the SOVDEX team also) and take some of the cost of mining off network resources.
SOVDEX also has a partner program so anyone who creates a front-end for SOVDEX, can earn up to 25% of all fees on orders that are placed with their front-end. This way, SOVDEX will be a truly decentralized exchange and not depend on a single hosting provider or Front-End.
We hope you join us in participating the the SOVDEX beta and share any and all feedback you have to our telegram group EOS SOV at https://t.me/eossov