Sovryn launches complete suite for Bitcoin DeFi on RSK
The protocol features leveraged trading, lending and borrowing and an in-house decentralized exchange. Sovryn, a decentralized finance platform operating on the RSK Bitcoin sidechain, announced on Tuesday its public launch. Users can now access a full suite for trading Bitcoin (BTC) in a trustless, noncustodial environment, benefiting from powerful leverage and yield opportunities.The platform presents a mix of major DeFi building blocks, including a collateralized lending protocol and automated market maker exchange. Users can trade long or short with up to five-times leverage, while....
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PRESS RELEASE. AscendEX is thrilled to announce the listing of the Sovryn token (SOV) under the trading pair USDT/SOV on Sept. 15 at 1 p.m. UTC. Sovryn is a Bitcoin-based decentralized finance (DeFi) protocol launched in early 2020. The Sovryn platform provides the tools to trade, lend, and leverage Bitcoin and other assets permissionlessly, secured by the Bitcoin Blockchain with minimal gas fees. Their platform features a trading interface uniquely designed for Bitcoin-native DeFi users with no transaction limits and support for multiple assets to trade. Sovryn aims to connect Bitcoin....
The Bitcoin network debuted in 2009 and introduced an asset class the world had never before seen, and some have branded bitcoin’s launch as the beginning of decentralized finance (DeFi). However, the decentralized applications (dApps) that are most associated with DeFi services were developed on other chains. Bitcoin was a major breakthrough for technology, but its programming didn’t allow for the possibility of running dApps on its network when it first launched. Recently, the integration of a sidechain like Rootstock has brought smart contract and dApp functionality to Bitcoin, and this....
Analysts are arguing whether the RSK-based Bitcoin money market, Sovryn, has a TVL of $52 million ... or $2 billion. Sovryn, a BTC money market protocol built on Bitcoin-based smart contract platform RSK, recently appeared to be shooting up through the decentralized finance rankings.On June 9, Bitcoin commentator, Anthony Pompliano, shared data to his one million followers from decentralized finance data aggregator, DeFi Llama, indicating the protocol had amassed a total value locked (TVL) of $1.95 billion — ranking it 14th for the sector and beating out DeFi darling Uniswap v3.Sovryn has....
A new platform has launched for decentralized margin trading – and it’s not on Ethereum. Sovryn has debuted its options trading platform on Bitcoin smart contract network RSK, bringing decentralized swaps straight to the Bitcoin community. The move signals a shift in the pendulum that has seen much of the onchain BTC trading gravitate to […]
AscendEX, a global cryptocurrency financial platform with a comprehensive product suite, is proud to participate in Soveryn’s latest investment round. AscendEX, alongside various industry-leading investment partners, including Pomp Investments, sees the massive potential Soveryn has to become a leader in the DeFi space. Sovryn, the Bitcoin-based decentralized finance (DeFi) protocol, has agreed to a $9M […]