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SovCube's onboarding phase offers long-term holders a way to increase their BSOV Token holdings securely over time, with the limitation of gradual withdrawals.
In the near future, we will introduce a governance function that grants Top Timelockers 1 vote and eligibility for Voting Rewards. These Timelockers will be able to vote on proposals to allocate funds from a decentralized treasury and receive rewards for participating in the voting process.
1. Timelock your BSOV Tokens, receive Timelock Rewards
2. Accept Incoming Tokens from rewards
3. Wait until the Global Lock Time has expired.
4. Withdraw your tokens and rewards gradually over time
5. [UPCOMING FEATURE] Vote to spend from the decentralized treasury if you have become a Top Timelocker
Read the documentation and make sure you fully understand what you're undertaking when using the SovCube dApp.
The SovCube.com website is a platform that provides access to a collection of timelocking contracts, offering a unique approach to token time-locking.
This documentation aims to provide a comprehensive understanding of SovCube's functionalities, its integration with the BSOV ecosystem, and how it enhances token value and stability. Whether you're a new user or an experienced one, this guide will assist you in making the most out of SovCube's features.
In a crypto landscape plagued by countless rugpulls and uncertainties, we introduce a system that is rugpull-resistant. Our innovation is not just about security; it's designed to potentially usher in a new era of hyperdeflation.
BSOV Token, known for its inherent deflationary nature, forms the cornerstone of this concept. By introducing SovCube Timelock Rewards and enabling users to lock their tokens, we set in motion a cascade effect. The circulating supply of BSOV Token will dramatically decrease, potentially reaching unprecedented lows.
In a world where traditional fiat currencies are characterized by inflation or even hyperinflation, we stand in stark contrast. BSOV Token with SovCube Timelocking is a testament to our commitment to creating a currency that defies the norm, offering a secure, anti-inflationary alternative in the cryptocurrency realm.
Begin your journey with SovCube by setting up your wallet like Metamask and filling it up with BSOV Tokens. This section will guide you through connecting your digital wallet, navigating the SovCube interface, and understanding the basic functionalities. Learn about the initial steps required to start using SovCube effectively, including securing your wallet and understanding the dashboard layout.
The current user interface of SovCube is only tested using the Metamask wallet extension on Brave Browser, so first you will need to download this software and create a new wallet.
When creating your Metamask wallet, you will receive a freshly generated mnemonic seed phrase. The seed phrase is 12 english words in a specific order. You will need to physically write these words down on a piece of paper or two. YOU HAVE TO KEEP YOUR SEED PHRASE SAFE! NEVER SEND YOUR SEED PHRASE TO ANYONE, AND NEVER KEEP IT STORED ON YOUR COMPUTER OR ONLINE.
You can read more about Getting Started with Metamask
After you have setup your Metamask wallet extension, you will need to get yourself ETH for transaction fees, and BSOV Tokens. You can either buy ETH and BSOV using the Metamask Wallet, or if you have already bought them, you can transfer them from another wallet or cryptocurrency exchange.
First you will need ETH which works as gasoline for the Ethereum Blockchain. Then you can go to Trade BSOV page, and buy BSOV Tokens. With ETH you can send transactions and interact with smart-contracts on Ethereum. BSOV Token is a smart-contract built on Ethereum, so you will need ETH to interact with BSOV Token.
You can see more info about buying BSOV Token at this page:
BSOV Token - Buy, Sell & TradeAfter you have installed Metamask, created your wallet, acquired ETH and BSOV Tokens, you now have everything you need to interact with SovCube.
First you will need to click "Launch dApp" on the SovCube website.
Then click the blue button called "Connect to Wallet". This will open a window in your Metamask extension, where you will approve connecting your Metamask wallet to the SovCube website.
Read about all the features of the SovCube dApp.
The "Timelock" function allows users to lock a specified amount of tokens for a period set by the contract. The tokens will be sent to the user's Regular Account. If the user timelocks their tokens, the tokens will be locked until the Global Lock Time has expired. The Global Lock Time is determined by when the contract was deployed.
This means that since e.g. Contract 2 has a 1000 day Global Lock Time and was deployed 30th of June, 2024, the timelocked tokens for all users are unlocked 1000 days from the 30th of June.
After the Global Lock Time has expired, new timelockers will receive a 70-day Lock Time before they can withdraw tokens from their Regular Account.
After the Global Lock Time has expired, old timelockers will receive a 14-day Lock Time before they can withdraw tokens from their Regular Account.
To receive Timelock Rewards, you will need to timelock tokens into Contract 2.
After you have timelocked tokens the Timelock Rewards are sent to your "Untaken Incoming Account", and you will receive a notification in the dApp. To accept the rewards you will need to click the button "Accept Incoming Tokens" to send the rewards to your "Incoming Account" and start/reset a timer.
NOTICE: The rewards are locked until the Global Lock Time has expired.
There are no rewards when you timelock tokens into Contract 1, since it is an old contract where early users have timelocked their tokens voluntarily to show their commitment to BSOV Token.
The Global Lock Time is a global variable that applies to all users, and is set on the day of the deployment of the contract. The reason for the Global Lock Time is to enforce a long holding period in the first stages of the SovCube journey. It means that all the users have to wait until the Global Lock Time expires before they can start withdrawing their tokens, following the weekly withdrawal rate.
The "Regular Account" is where the user-initiated timelocked balance ends up, so whenever you use the "Timelock" button, the tokens end up here. They are locked until the contracts' Lock Time has expired, and can only be withdrawn following the weekly withdrawal rate set by the contract.
The "Incoming Account" is where all "Rewards" and "Sent Locked Tokens" end up. If users send you tokens through the "Send Locked Tokens" function, they end up here, and after you click "Accept Untaken Incoming Tokens" button, they end up here.
Before the Global Lock Time has expired: Note that you cannot withdraw any tokens before the Global Lock Time has expired.
After the Global Lock Time has expired: Note that when accepting untaken incoming tokens, the Lock Time of the Timelocked Tokens in the "Incoming Tokens Account" is reset to 100 days, regardless of how much time you have left on it. You have to be absolutely sure that you want to reset the Lock Time, so take care when you Accept Untaken Incoming Tokens.
Retrieve locked tokens back to your wallet.
The "Withdrawal" function enables users to retrieve their locked tokens from either the "Regular Account" or the "Incoming Account" after the Lock Time or the Global Lock Time has expired. This function provides a seamless way to unlock and access the previously timelocked tokens, making them available for further use, trade or transfer.
Contract 1 has a weekly withdrawal rate of 1000 tokens.
Contract 2 starts with a weekly withdrawal rate of 100 tokens, and also has an additional account called "Incoming Account", that shares the same weekly withdrawal rate as the Regular Account.
Contract 2 also has a "Withdrawal Halving" which halves the Withdrawal Rate every ~4 years, a countdown that starts after the Global Lock Time has expired. Meaning that in year 2031, the withdrawal rate will halve to 50 BSOV per week, and in year 2035, it will halve to 25 BSOV per week, until it has reached Withdrawal Halving Era number 5, which is capped at 6.25 BSOV.
Even if the weekly withdrawal rate starts at 100 tokens, you can accumulate them to up to 10 weeks, so you do not need to withdraw every week. You can withdraw every 10 weeks.
"Accept Untaken Incoming Tokens" is a function that refers to the process of receiving tokens after claiming the Timelock Rewards or if you have been sent timelocked tokens from other users who used the "Send Locked Tokens" function.
After clicking "Accept Untaken Incoming Tokens" button, the balance of "Untaken Incoming Tokens" will be transferred to the "Timelocked Tokens" balance of the "Incoming Account".
After the tokens have been transferred, the Lock Time of the "Incoming Account" will reset to the initial 100 days, regardless of how much time you have left of your Lock Time in the Incoming Tokens Account. This means that you should be absolute sure when using this function. You do not want to Accept Untaken Incoming Tokens if you have e.g 1 day left.
"Send Locked Tokens" allows users to transfer tokens that they have already timelocked in their regular account. The locked tokens are sent to the "Untaken Incoming Tokens" balance of the recipient users you send it to. They can only access these tokens after clicking the "Accept Incoming Tokens" button, and after they have waited the initial 100 days that are set after accepting.
You may send timelocked tokens to several different addresses, and several different amounts in a single transaction. To send timelocked tokens to several different addresses with several different amounts, you need to enter one address per line, and one amount per line.
The amounts and addresses correspond to the line they are at.
For example, if line 1 is [ADDRESS1] and line 2 is [ADDRESS2]
and then in the amounts field you type in line 1 [200] and line 2 [500],
it means that 200 tokens will be sent to [ADDRESS1] and 500 tokens will be sent to [ADDRESS2].
After the first Global Lock Time of 1000 days is over, the countdown starts for the Withdrawal Halvings. Every 1500 days the weekly withdrawal rate will halve, starting from 100 BSOV per week, halving to 50 per week, and so on; until a maximum of Halving Era 5. The total process will take about 20 years from contract deployment, and will end up at 6.25 BSOV weekly withdrawal rate.
Dive into the technical aspects of SovCube with an overview of its smart contracts. This section is designed for users interested in understanding the contract mechanics, featuring explanations of contract functions, security measures, and how to interact with them directly for advanced operations.
Contract 1 was deployed the 2nd of August, 2019, and had only a 180 days Global Lock Time, which expired the 29th of January, 2020. Contract 1 has a weekly withdrawal rate of 1000 tokens per week, but even so, very few tokens have been withdrawn as of writing this (17th of June, 2024). You can still timelock tokens in Contract 1, but there is no incentive to do so.
Contract 2 was deployed the 30th of June, 2024, and has a 1000 days Global Lock Time. Contract 2 has a weekly withdrawal rate of 100 tokens per week, but also had an improvement with 4 added functions called Timelock Rewards, Send Locked Tokens, Incoming Tokens Account and Withdrawal Halving Eras.
Find quick answers to common questions about SovCube in this FAQ section.
Yes, during the onboarding phase we have something called Timelock Rewards. If you timelock your BSOV Tokens in Contract 2, you will receive Timelock Rewards. The earliest users will double their BSOV investment. Also, after the Governance Treasury contract has been deployed, you will be able to qualify as a Top Timelocker and receive Voting Rewards by voting for proposals.
No, not exactly the same, but similar! With SovCube we timelock and receive Timelock Rewards! Timelocking involves voluntarily locking your tokens for a long duration, accompanied by a Slow-Release mechanism with a predetermined withdrawal rate per week. SovCube does not support traditional staking practices, where tokens are deposited to earn dividends and can be withdrawn at any time or in a very short period.
Why do we want a long timelock? So that no one can sell every token they have, and dump the token price. This keeps the token price more stable, and less volatile over time. This long timelock prevents short-sighted people, and we don't need that. In SovCube, Timelocks are intended for more extended durations, and the associated Timelock Rewards remain secured and inaccessible for 100 days after being accepted by the user.
BSOV Token is a deflationary and PoW-mineable ERC20 token that was created in June, 2019. BSOV Token's transaction burn of 1% encourages holding and is part of its deflationary mechanism. SovCube interacts with BSOV Token and uses it as its base currency for timelocking and Timelock Rewards.
A lot of the BSOV Token supply is already locked in SovCube, making BSOV Token even more deflationary. Another thing that makes BSOV Token even more deflationary is that the PoW-mining has stopped due to a "Bricking-bug" in the smart-contract code of BSOV, that completely stopped PoW-mining forever. You can read more about the "Bricking-bug" here.
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To buy BSOV Tokens go to the BSOV Token website or directly to the Trade BSOV page for more info.
Join the SovCube Telegram for help, support and meeting the SovCube community. Connect with the SovCube community and get support for any challenges you face.
The SovCube website and dApp is completely open source, and is available for any developers to deploy and use, even if the SovCube.com website goes down.
Visit the SovCube Github Repository to read the code and deploy it yourself!
By accessing and using the SovCube website and decentralized application (dApp), you hereby acknowledge and agree to the following terms:
SovCube, its developers, and associated entities disclaim any responsibility for the accuracy, completeness, or suitability of the information and materials provided on the SovCube website and dApp. The content is provided for informational purposes only and may be subject to change without notice.
Users of the SovCube website and dApp assume all responsibility and risk for the use of the platform. This includes, but is not limited to, any reliance on the information available, the consequences of financial transactions, and interactions with smart contracts available through the SovCube website.
The content on the SovCube website and dApp does not constitute financial, investment, or legal advice. Users are encouraged to conduct their own research and seek professional advice before making any financial decisions or engaging in transactions on the SovCube platform.
SovCube does not guarantee the performance, availability, or functionality of the website and dApp. The platform may be subject to disruptions, downtime, or other technical issues, and SovCube is not liable for any losses or damages resulting from such occurrences.
The SovCube website and dApp may contain links to third-party websites or resources. SovCube is not responsible for the content, accuracy, or availability of such external sites and resources. Users access and use them at their own risk.
Users acknowledge the inherent risks associated with interacting with smart contracts on the SovCube blockchain. SovCube is not responsible for any losses or damages resulting from vulnerabilities, bugs, or exploits in smart contracts.
Reference to any specific commercial product, process, or service on the SovCube website and dApp does not constitute or imply an endorsement or recommendation by SovCube, unless explicitly stated.
By using the SovCube website and dApp, you agree to release SovCube and its affiliates from any liability or claims arising out of your use of the platform. This disclaimer is subject to change without notice. It is your responsibility to review and understand the terms regularly. If you do not agree with these terms, please refrain from using the SovCube website and dApp.