What is Sögur (SGR)?
What is Sögur (SGR)?
Sögur or for those with danish/Norwegian keyboards, SGR, is a token that aims to work as a global currency. It is a type of utility crypto token within the Ethereum blockchain. Think about it as a global form of payment that can be accepted worldwide that is stable.
Why?
Dependability
Unlike Bitcoin, SGR implements a monetary model which makes it more dependable and less volatile. You may remember the Bitcoin price reached back in December 2017 an exchange of 1 BTC:USD 18,000 only to fall to USD 3,500 in December 2018. That is high volatility in a period of 1 year.
Decentralization
SGR like most blockchain technologies is not tied to any particular state or political government. Its empower governance through code, in essence a blockchain smart contact.
Respect Existing Regulatory Standards
Unlike some tokens, Sögur requires anyone who wants to purchase or sell SGR to or from the Sögur’s smart contract to first undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. So no, you wont be able to launch a Silk Road 2 with SGR tokens.
How?
The SGR monetary model
One of the key items is that SGR implements a blockchain-based smart contract that can sell SGR tokens or buy back and burn tokens. This allows for a stable growth of the economy from early stages to maturity.
SGR Reserve Ratio
The reserve ratio is defined as the portion of SGR market value which is backed by Sögur’s reserves. The reserve always remains solvent as it is configured to match the IMF basket of currencies. The reserve ratio starts at 100% and then gradually decreases as Sogur’s economy grows.
Reserve ratio Intuitive Interpretations
It is a measure of the ability of the Contract to buy back SGR tokens, without having to reduce the price of SGR.
Bonding Feature
There is a bonding curve protocol which is model to where early adoption is incentivized. It exposes SGR holders to carefully modeled volatility — using stabilization mechanisms to temper risk in fast-changing and unpredictable market conditions, while creating an opportunity for sustainable intrinsic value growth.
Who is behind SÖGUR?
SGR Currency
Is designed and develop by Sogur Monetary Technologies Ltd, an English limited company that works under not-for-profit. All its proceeds are dedicated in full to promote its objective and cannot be distributed.
Saga Core
Development of the Sögur project and certain other operations (e.g. marketing and business development) are provided by Saga Core Ltd, a subsidiary of SMTL based in Tel Aviv, Israel.
Want to get started?
There are currently a couple of ways to acquire SGR.
- You can use fiat to buy it via bank wire or credit card on an exchange.
- Buy SGR from a contract. — You must complete the on boarding process to purchase and redeem SGR tokens directly from Sögur’s smart contract.
- You can use exchange to buy it. — At the moment a limited amount of exchanges support the SGR token.
Additional Resources
- Sögur Website https://www.sogur.com/whitepaper
- Sögur Youtube https://www.youtube.com/c/S%C3%B6gurCurrency
- Sögur Github https://github.com/SogurCurrency
