Sovryn
Sovryn is the Bitcoin-based decentralized finance protocol that allows users to trade Bitcoin on Layer 2 in a permissionless, noncustodial, and censorship-resistant way. The platform aims to create a fair and transparent financial system that gives every individual a path to true freedom and limitless, uncensorable wealth. It ensures users maintain autonomous control over their Bitcoin, enabling more functionalities like Bitcoin-backed stablecoins, 0% interest loans, and seamless trading without intermediaries. Sovryn is developed on RSK, a side chain of the Bitcoin blockchain-powered by merge-mining, and is governed by the community.
ABOUT SOVRYN
Sovryn is revolutionizing the DeFi landscape with its Bitcoin-native decentralized trading and lending platform.
Sovryn is reshaping the landscape with over $2 billion in trades and is accessible through $SOV on Gate.io and the Sovryn dApp.
The platform is built on two chains--BOB and Rootstock. BOB is a hybrid Layer-2 rollup secured by Bitcoin and natively connected to Ethereum. Rootstock is a smart contract, merge-mined sidechain of Bitcoin.
KEY FEATURES
Decentralized Trading.
The Sovryn app allows users to trade Bitcoin directly within the platform without relying on centralized exchanges.
Lending and Borrowing.
The app facilitates lending and borrowing of Bitcoin and other supported assets. Users can earn interest on their crypto holdings by lending them out to others or borrowing against their assets.
Sovryn Dollar.
DLLR is a Bitcoin-backed stablecoin, pegged to the U.S. dollar, and over-collateralized by Bitcoin.
Bitocracy.
Sovryn operates under a decentralized governance model called Bitocracy, allowing token holders to vote on important decisions regarding the platform's development, new features, and protocol upgrades.
Sovryn Wallet.
The Sovryn app comes with an integrated non-custodial wallet that allows users to control their private keys and manage their crypto assets securely.
Cross-Chain Compatibility.
The Sovryn app is built on the Rootstock (RSK) sidechain, which provides Ethereum-compatible smart contracts.