Sovryn is a decentralized finance (DeFi) platform designed specifically for Bitcoin. It operates on the Rootstock (RSK) Bitcoin sidechain, enabling users to engage in smart contract-based activities like lending, borrowing, margin trading, and swapping Bitcoin. Sovryn’s native token, RBTC, provides Bitcoin with new capabilities within the platform, such as the ability to interact with decentralized applications (dApps) and access Ethereum-like programmability while benefiting from Bitcoin’s security.
Key features include Bitcoin-backed stablecoins (Sovryn Dollar or DLLR), which are overcollateralized by Bitcoin, and 0%-interest loans that issue USD-pegged tokens. The platform supports margin trading (up to 5x leverage), a low-cost spot exchange, yield farming, and decentralized governance through its Bitocracy system, where stakers have voting rights to shape the platform’s future. Additionally, Sovryn allows users to bridge assets across different chains like Ethereum and Binance Smart Chain (BSC) for broader DeFi exposure.
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