SOVI on HECO liquidity mining update

The last 7 days have been very eventful for everyone at Sovi Finance, and we are pleased to announce the successful SOVI auction on the NewItem platform and the start of SOVI liquidity mining on the Huobi ECO chain (HECO). Both events were very successful and met with great dedication from members of our community. They show you how the Soviet Revolution impacted the gaming and DeFi world and will continue to do so!

SOVI NEWITEM AUCTION and LIQUID start

The SOVI auction for NewItem and the ability to extract SOVI liquidity from Heco began on February 18th. During the auction period, 40,000 SOVIs were offered for 1 SOVI equivalent to 1HT, the token auction ended at 2pm GMT, 37,520 tokens were sold and the remaining 2,480 are expected to be burned.

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SOVI Liquidity mining started at 5pm (GMT) and reached TVL of USDT20M in the first 30 minutes before reaching USDT24M. At the time of launch, attendees achieved an overall APY of 16983%, and the exact figures are:

  • TVL $23M
  • APY 16983%  
  • SOVI/USD: 15632.25%
  • SOVI/HT: 16983.63%
  • SOVI: 1739.14%
  • HT: 107.23%
  • HUSD: 107.50%
  • HPT: 106.60%

Thanks for the support of the SOVI community and congratulations to all participants. We also want to add that the price of SOVI has stabilized at the USD 30-40 level and anyone can buy SOVI with Mdex. Here you can view all relevant information about SOVI on Mdex and click the “Trade” button to go directly to the available SOVI trading pairs.

The SOVI LP mining pool in turn provides many useful features for influencers, network participants and loyal platform advocates, and allows the entire community to be rewarded as HECO’s liquidity provider. SOVI’s tokenomics for HECO are as follows:

SOVI Token (HECO)

Hope Sovi Mining (hSOV and hSOV2)

  • Type: hSOV & hSOV2 mining
  • Start block: 930700
  • Block period: 1528500
  • Block Production: 0.02 SOVI

Total Distribution: 58400 SOVI

SOVI Auction

Type: Direct mint

Total Distribution: 40000 SOVI

Liquidity Mining

  • Start block: 2257600
  • Block period: 10512000
  • Type: LP Token Mining (SOVI/WHT SOVI/USDT)
  • Stage 1: 14 days | 70000 SOVI
  • Stage 2: 21 days | 73500 SOVI
  • Stage 3: 21 days | 51450 SOVI
  • Stage 4: 21 days | 36015 SOVI
  • Stage 5: 288 days | 345744 SOVI

Total Distribution: 576709 SOVl

Single Token Stake Mining

  • Type: Single Token stake mining(WHT, HUSD, HPT,SOVI)
  • Start block: 2257600
  • Block period: 201600

Total Distribution: 7056 SOVI

Referral Bonus 

Type: Assigned to all user claims: In order to receive the bonus, the invitee must put at least $1000 of tokens in the cash pool. Guests can collect additional produce under 2 shifts with 50% direct and 50% indirect referrals. Benchmark Level: Step 1: 6% Step 2: 7% Step 3: 8% Step 4: 9% Step 5: 10%

Total distribution: 51,277 SOVI (calculated as full occupancy)

Mundi

Type: Users who handle all user complaints and use an Igniter type of NFT can benefit from 2% of the additional SOVI output on their total cash generation.

Total Distribution: 11,534 SOVI

team

Type: Earned for all user claims with an additional 10% of all productions excluding referral bonuses.

Total Distribution: 66,824 SOVI

Information on SOVI tokenomics can be found at  https://docs.sovi.finance/usdsovi-tokenomics/sovi-tokenomics-heco.

We encourage community members to participate in liquidity mining. More information on HECO’s extraction mechanism and liquidity provision for individual assets can be found here. With Sovi Finance, anyone can participate in the new financial revolution and earn valuable digital assets through digital gameplay and by participating in DeFi activities such as liquidity mining, staking and yield farming. There is more good news. So join the Soviet community, follow us on social media and stay tuned!

Disclaimer: The information presented here does not constitute investment advice or investment proposals. Statements, opinions and opinions expressed in this article are solely those of the author/company and are not inconsistent with the opinions of Crypto News Flash. In particular, I highly recommend DYOR readers before investing in a cryptocurrency, blockchain project, or ICO that guarantees a return. Additionally, Crypto News Flash does not endorse or imply that cryptocurrencies or published projects are legal in any particular reader’s location. It is the responsibility of the reader to know the laws on cryptocurrency and ICOs in your country.

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