Sovryn is a non-custodial and permissionless smart contract based system for Bitcoin lending, borrowing and margin trading. Users can buy SOV with RBTC, swap and trade: DOC, BPRO, rUSDT, xUSD, and MOC tokens on Sovryn.
Sovryn does not require you to send your Bitcoin to a centralized company, like BitMEX or Binance, in order to trade. With Sovryn, you send your BTC to a smart contract that allows you to keep custody of your private keys, allowing you to withdraw your funds at any time. Sovryn is permissionless in the sense that no one can censor a transaction, ban your account or require you to undergo KYC before trading.
Alice and Bob do not want to move their BTC onto a centralized service and give up control of their keys. Using Sovryn, Alice issues a peer to peer loan straight from her wallet and Bob trades straight from his. Alice is now stacking sats, and Bob is HyperHodling without compromising their privacy, control or ideals.
Both Carol and David can integrate permissionlessly with the trading, lending and liquidity of Sovryn. In doing so, they gain instant access to more liquidity, more features and can provide greater functionality for both their users and those of Sovryn.
Sovryn governance will be decentralized soon. Instead of shares, governed by laws and enforced by courts, Sovryn dequity (decentralized equity) will be governed by the blockchain and enforced by Bitcoin's POW.
The SOV Bitocracy is a distributed, pseudonymous governing body of stakeholders in the future of the Sovryn protocol and business.
SOV token holders can make executable proposals if they possess enough voting power, vote on proposals during a predefined voting period and in the end evaluate the outcome. If successful, the proposal will be scheduled on the timelock contract. Only after sufficient time has passed can it be executed. A minimum voting power of 1% of SOV (1,000,000) is required for making a proposal as well as a minimum quorum.
In addition, SOV token holders can aggregate their governing power to a specific stakeholder (without transferring their SOV tokens) through delegation
The Sovryn protocol smart contracts are periodically assessed by independent security auditors. You can see the audits here:
You can find the app at https://live.sovryn.app/
|DOC||Dollar on Chain||ERC20||RSK|
|MOC||Money on Chain||ERC20||RSK|
|rUSDT||USDT on RSK||ERC20||RSK|
See the Sovryn Library for the summary of fees.