¶ External SOV tokens
External SOV tokens (eSOV) are tokens that exist on an alternative network to Rootstock (RSK), where native SOV tokens and the Sovryn dapp reside.
These tokens are not new supply or alternative implementations of the SOV coordination token. Instead, they are wrapped SOV tokens designed to enable trading of SOV on other networks, such as eSOV used on Uniswap and Gate.io exchange.
These tokens are created by locking Rootstock-native SOV tokens in a bridge contract and minting them on the alternative network.
Uniswap is one of the biggest decentralized exchanges in the Ethereum Blockchain. Sovryn lists the SOV token on Ethereum as eSOV. This allows anyone on the Ethereum network to trade the SOV equivalent eSOV token with all the other tokens in Uniswap.
¶ How does eSOV work?
- eSOV is created through a conversion of SOV to eSOV. This is done through the Sovryn Ethereum Bridge by locking SOV on the Rootstock network and minting an equivalent amount of eSOV on the Ethereum network.
- eSOV is another ERC20 token.
- eSOV is not native SOV; only native SOV can be used for staking and voting power.
- Without converting eSOV to SOV (from Ethereum to Rootstock), it cannot be used for staking and receiving voting power. Therefore, if you have eSOV and want to participate in Sovryn Bitocracy/Governance, then you can use the Sovryn Ethereum Bridge to convert eSOV to SOV here.
- Initial liquidity to the eSOV/WETH pool was provided by the Sovryn Treasury (Multisig).
- There is currently no incentive mechanism from Sovryn for providing liquidity to Uniswap Pools.
- Uniswap's usual fees will be charged for each transaction in the pool.
¶ eSOV Uniswap pool information
Uniswap: https://uniswap.org
Pool: eSOV/WETH
Launch date: June 10th 2021
eSOV Mainnet Address: 0xbdab72602e9ad40fc6a6852caf43258113b8f7a5
Uniswap additional details:
- https://v2.info.uniswap.org/token/0xbdab72602e9ad40fc6a6852caf43258113b8f7a5
- https://www.dextools.io/app/uniswap/pair-explorer/0x127cadea890813125ca083280ab921d2220558c2
¶ How to add the eSOV token and trade on Uniswap
1 - Head to the Uniswap app - app.uniswap.org
2 - Connect your wallet
3 - Click “Select a token”
4 - Search for “sovryn”.
5 - Select eSOV
- Make sure the eSOV you select is "via Kleros Tokens token list
- Double check the eSOV contract address, this should match the official eSOV mainnet address: 0xbdab72602e9ad40fc6a6852caf43258113b8f7a5
- Only after you have verified the above should you proceed to import the eSOV token!
6 - Proceed to make a swap to eSOV, for example (Need the pool to be live to screenshot a swap to eSOV)
7 - Now you can use the Sovryn Ethereum bridge to bring your eSOV to Sovryn, if you wish to do so. A full guide to using the Ethereum bridge can be found here
¶ Bridge eSOV to Sovryn SOV
Use this dedicated guide.