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SovCube Documentation

What is SovCube?

SovCube offers long-term holders a way to increase their BSOV Token holdings securely over time, with the limitation of gradual withdrawals.

We also plan to introduce a future governance function, allowing top timelockers to use their locked tokens as voting power. These timelockers will be able to vote on proposals for allocating funds from a decentralized governance treasury and receive voting rewards.


1. Timelock your BSOV Tokens, receive Timelock Rewards

2. Wait

3. Withdraw your tokens and rewards gradually over time

4. Vote to spend from decentralized treasury [UPCOMING FEATURE]


Read the documentation and make sure you fully understand what you're undertaking when using the SovCube dApp.

Introduction

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.

Why Timelock Tokens?

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.

Getting Started with SovCube

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.

Setup your Metamask Wallet

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

Buy or transfer BSOV Tokens to your Metamask Wallet

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.

How to buy BSOV Tokens

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 & Trade

Getting started with SovCube

After 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.

dApp Features

Read about all the features of the SovCube dApp.

Timelocking Tokens

The "Timelock Tokens" function allows users to lock a specified amount of tokens for a period set by the contract. If the user timelocks their tokens, the tokens will be locked until the Lock Time has expired. The Lock Time is determined by when the contract was deployed, and the lock time parameter in the contract.

This means that since e.g. Contract 2 has a 1000 day Lock Time and was deployed 17th of June, 2024, the timelocked tokens for all users are unlocked 1000 days from the 17th of June.

To receive Timelock Rewards, you will need to timelock tokens into Contract 2.

There are no incentives to timelock your tokens into Contract 1, since it is an old contract and people have timelocked their tokens voluntarily to show their commitment.

Global Lock Time

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.

Regular Account

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.

Incoming Account

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.

Note that when accepting incoming tokens, the Lock Time of the Timelocked Tokens in the "Incoming Tokens Account" is reset to 1000 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.

Withdrawal Process

The "Withdrawal Process" enables users to retrieve their locked tokens after 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.

Withdrawal Rate:

When the Lock Time has expired, the users can begin withdrawing their tokens, but they do have to follow the weekly Withdrawal Rate. For example, if you timelock 10,000 tokens in Contract 2, which has a 100 tokens/week withdrawal rate; it will take a minimum of 100 weeks to withdraw all those tokens, providing that you withdraw regularly.

Contract 1 has a weekly withdrawal rate of 1000 tokens.

Contract 2 has 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.

Accept Untaken Incoming Tokens

"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 1000 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.

Send Locked Tokens

"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 1000 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 would 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].

Withdrawal Halving

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 5 halvings. The total process will take about 30 years from contract deployment, and will end up at 6.25 BSOV weekly withdrawal rate.

Smart Contract Details

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 Details

Contract 1 was deployed the 2nd of August, 2019, and had only a 180 days 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 January, 2024). You can still timelock tokens in Contract 1, but there is no incentive to do so.

Function Timelock & Withdraw BSOV Tokens
Contract Address
Deploy Date 2nd of August 2019
Current Amount Timelocked 1146971 BSOV
Lock Time Expiry Date 29th of January 2020
Withdrawal Rate 1000 BSOV per week

Contract 2 Details

Contract 2 was deployed the 15th of February, 2024, and has a 1000 days lock time. Contract 2 has a weekly withdrawal rate of 100 tokens per week, but also had an improvement with 3 added functions called Timelock Rewards, Send Locked Tokens and Incoming Tokens Account.

Function Timelock, Timelock Rewards, Withdraw & Send Locked BSOV Tokens
Contract Address
Deploy Date 15th of February 2024
Current Amount Timelocked BSOV
Lock Time Expiry Date 16th of September 2026
Withdrawal Rate 100 BSOV per week

FAQs

Find quick answers to common questions about SovCube in this comprehensive FAQ section. It covers a wide range of topics, from basic queries to more complex issues, helping you resolve common problems and understand SovCube's operations better.

Question: Will I get dividends from timelocking my tokens in SovCube?

Yes, we call them Timelock Rewards. If you timelock your BSOV Tokens in Contract 2, you will receive Timelock Rewards. The earliest users will double their BSOV investment.

Question: Is timelocking the same as staking?

No, in SovCube we do not stake; we timelock and receive Timelock Rewards! Timelocking involves voluntarily locking your tokens for a specific duration, accompanied by a Slow-Release mechanism with a predetermined withdrawal rate per week. Unlike staking, 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. In SovCube, Timelocks are intended for more extended durations, and the associated Timelock Rewards remain secured and inaccessible for 1000 days after being claimed and accepted by the user.

BSOV Token

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 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.

BSOV Token Contract Address:

0x26946ada5ecb57f3a1f91605050ce45c482c9eb1

How to buy BSOV Token

To buy BSOV Tokens go to the BSOV Token website or directly to the Trade BSOV page for more info.

Support and Community

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.

Open Source Development - Github

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!