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BEFORE YOU BEGIN

Sovryn Overview

Getting Started

Using Sovryn

BitcoinOS

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SOVRYN DAO

Governance

Staking & Voting

Financial Updates

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Overview of Sovryn
Everything you need to know about the Sovryn decentralized trading and lending
platform

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Page Contents
What is Sovryn?
Currently available features
Last edited by

onedigit
02/12/2024



¶ WHAT IS SOVRYN?

 * Developers of BitcoinOS—a bitcoin compute superlayer
 * The most feature-rich DeFi platform for bitcoin
 * A noncustodial and permissionless smart-contract system for bitcoin
   borrowing, lending, and margin trading
 * A protocol for the Sovryn Dollar (DLLR)—an aggregated, non-custodial,
   bitcoin-backed stablecoin
 * A DAO (distributed autonomous organization) built on Rootstock, a bitcoin
   sidechain, that provides the bitcoin ecosystem with EVM superpowers
 * A project to facilitate a full-stack financial operating system on bitcoin
   using rollup technology, open and available to all

Sovryn runs on Rootstock, which derives its security from the bitcoin network.
The native token of Rootstock is RBTC, an exact 1:1 BTC peg. When you transfer
bitcoin into Rootstock, your bitcoin is locked and the equivalent amount is
released as RBTC on Rootstock. Using RBTC, your bitcoin takes on new
capabilities. You can borrow, lend, and trade on Sovryn. In addition, all fees
are paid in RBTC, so you don't need a separate asset just for transaction fees. 


¶ CURRENTLY AVAILABLE FEATURES 

 * 0%-interest loans on bitcoin that issue a USD-pegged stablecoin
 * Bitcoin-backed stablecoin
   * A decentralized, USD-pegged token backed by overcollateralized bitcoin
 * FastBTC relay
   * A simple and quick method to bi-directionally exchange between BTC and RBTC
 * Bridge between Rootstock (BTC) and Ethereum, BSC networks
 * Spot exchange with limit orders
   * Low-cost, low-slippage, instant trading between tokens allowed by Sovryn
     AMM
 * Margin trading - Up to 5X long/short trades
 * Lending pools/yield farming 
   * Earn fees by lending tokens to margin traders and borrowers
 * Borrowing
   * Borrow tokens from the lending pool (all lending is overcollateralized)
 * Portfolio management
 * SOV staking for fee sharing, voting power, platform rewards, and airdrops
 * Bitocracy 
   * Sovryn-specific Incentive-aligned protocol governance where Sovryn
     Improvement Protocols (SIPs) are openly discussed on Sovryn’s social
     channels, then moved to the official Bitocracy forum, then moved to the
     Sovryn dApp governance reconciliation. Each staker has voting rights to
     participate in decisions that determine the course of platform development.

Get started with Sovryn!
 

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