BableFish SIP on SOVRYNS Bitocracy
An important step towards launch of BabelFish on SOVRYN platform was taken. A final proposal was posted on SOVRYN forum and pulled in Github.
It was not easy task for BableFish team who works across different time-zones, but a lot of effort was taken to make this proposal as open and inclusive as possible. Based on community feedback changes were implemented to the SIP (Sovryn Improvement Proposal) to make sure that SOVRYNS — Bitocracy participants would know what they are voting for.
Voting process has started not long time ago on https://bitocracy.sovryn.app and will end on 14.05.2021 at approx. 18:56 GMT / UTC — on block #3350505.
Before casting Your vote it is worth taking following into consideration. No platform exists today to support projects seeking to launch DeFi projects on Bitcoin. Sovryn is uniquely positioned to provide this launchpad as demonstrated by the successful Origin sale of SOV. The intention of putting forth this SIP for a Bitocracy vote is to permit BabelFish’s use of the Origins platform to perform a token sale.
If this vote passes and BabelFish conducts a successful token sale, it would demonstrate the Sovryn Origins platform’s capability to serve as a launchpad for future Bitcoin DeFi projects.
This could bring an inflow of innovative decentralized product experimentation to be bootstrapped on Sovryn and initiate a virtuous cycle of innovation and a flywheel effect for SOV.
Background
BabelFish aims to be the first money lego built on Sovryn with the mission of bringing deep stablecoin liquidity to the ecosystem. This will also be convenient in terms of UI/UX inside Sovryn’s portfolio, as users won’t have to choose between a growing myriad of USD-pegs, instead, all USD-pegs can be deposited and withdrawn 1:1 via a single xUSD.
Website: https://babelfish.money/
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