The Sovryn community has published the Black Paper v.1 to outline the details of their infrastructure solution for the next generation of DeFi.**
The paper summarizes the work that Sovryn contributors have accomplished thus far and explains how the Sovryn protocol takes the monetary sovereignty that Bitcoin offers and builds a layer-2 operating system to ensure complete financial sovereignty to users worldwide.
DeFi has made massive strides in the past few years with the introduction of multiple, technological innovations, including:
In 2020, the combined locked-in value of DeFi markets grew by 982%, sealing the industry’s fate with massive interest in the first round of DeFi expansion.
The fact remains that crypto’s major asset, Bitcoin, has been largely left out of these first generation DeFi protocols. Why is that?
Sovryn solves these challenges by creating a Bitcoin-native financial operating system that allows people to utilize their Bitcoin in decentralised applications:
The Sovryn protocol provides an infrastructure using layer-2 technologies for the next generation of DeFi. In this new era:
Learn about Sovryn’s Fullstack Operating System for Bitcoin-native DeFi in the Black Paper
The Sovryn protocol already provides tools for Bitcoin-native trading, lending, and leverage. Each of these financial applications are carried out in a permissionless manner and secured by the Bitcoin Blockchain through rootstock (RSK) merge-mining.
Soon, the Sovryn Bitocracy will enable anyone to build EVM-compatible smart contracts that are secured by Bitcoin Proof of Work (PoW). Users will be able to transmit the value of their Bitcoin for use in day-to-day payments, without having to sell their digital gold. With an operating system built specifically for Bitcoin-native DeFi, the sky’s the limit for building a truly decentralised financial system.
Anyone wishing to join the Sovryn Bitrocracy will enjoy Bitcoin-class security, privacy enhancing zk-proof shielded transactions, and DeFi products that allow them complete financial sovereignty while putting their Bitcoin to work.
Learn more details about the Sovryn tech stack, its use cases, and the SOV token in the Sovryn Black Paper.