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The last seven days have been extremely eventful for everyone at Sovi Finance and we are happy to announce the successful completion of the SOVI auction on the NewItem platform, and the launch of SOVI Liquidity Mining on the Huobi ECO Chain (HECO).\u00a0 The two events have proved to be highly successful and have attracted a significant amount of engagement from our community members and highlight how the Sovi revolution has spread across the gaming and DeFi worlds and will continue to do so!\u00a0\u00a0<\/strong><\/p>\n The SOVI auction on NewItem and the ability to liquidity mine SOVI on Heco began on February 18<\/span>th.<\/span>During the auction, 40,000 SOVI were made available with 1 SOVI being equal to 1HT, and the token auction ended at 14:00 GMT with 37,520 tokens being sold and with the remaining of only 2480 scheduled to be burnt.<\/span><\/p>\n SOVI Liquidity Mining began at 17:00 GMT, and we achieved a TVL of $20M USDT within the first 30 minutes before going on to hit $24M. The launch also saw participants benefit from an overall APY of 16983%, with the exact figures being as follows.<\/span><\/p>\n We would like to thank the SOVI community for all their support and congratulate everyone who participated. We would also like to add that the price of SOVI has stabilised at around the <\/span>$30 to $40 (USD) level, and anyone can buy SOVI using Mdex. You can see all the relevant info regarding SOVI on Mdex <\/span>here<\/span>, and you just need to click on the \u201cTrade\u201d button to go directly to the available SOVI trading pairs.\u00a0\u00a0<\/span><\/p>\n Once again, the SOVI LP Mining Pool brings many beneficial features to influencers, network participants, and loyal platform supporters, and allows our entire community to earn rewards by acting as liquidity providers on HECO. The tokenomics of SOVI on HECO are as follows.<\/span><\/p>\n Hope Sovi Mining (hSOV & hSOV2)<\/b><\/p>\n SOVI Auction<\/b><\/p>\n Liquidity Mining<\/b><\/p>\n Single Token Stake Mining<\/b><\/p>\n Referral Bonus\u00a0<\/b><\/p>\n Type: Given upon every user claim: In order to receive the bonus, the inviter needs to put at least $1000 worth of tokens into the liquidity pool. Inviters are able to collect extra production from 2 layers below them, with 50% from direct referrals and 50% from indirect referrals. Referral Index levels: Stage 1: 6% Stage 2: 7% Stage 3: 8% Stage 4: 9% Stage 5: 10%<\/span><\/p>\n Total Distribution: 51277 SOVI (calculated as fully occupied)<\/b><\/p>\n Mundi\u00a0<\/b><\/p>\n Type: Transferred upon every user claim, and users who stake the Igniter type of NFT will be able to enjoy 2% of extra SOVI production from overall liquidity mining.<\/span><\/p>\n Total Distribution: 11534 SOVI<\/b><\/p>\n Type: Received upon every user claim with 10% extra from every production except for the referral bonus.\u00a0<\/span><\/p>\n Total Distribution:<\/b> 66824 SOVI<\/b><\/p>\nThe SOVI NewItem Auction & Liquidity Mining Launch<\/b><\/h2>\n
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SOVI Tokenomics (HECO)<\/b><\/h2>\n
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Team\u00a0<\/b><\/h2>\n