Sovryn
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Sovryn in numbers
Sovryn (SOV) ranks #1876 by market capitalization, at $1.53M. It belongs to the DeFi sector (SideChain). It has traded since Jun 10, 2021, across 13 markets on 1 exchanges, with $1.04K of volume in the last 24 hours. Its all-time high of $47.38 was reached on Jun 10, 2021; the current price is 100.0% below that peak. Its cycle low of $2.14656e-07 came on Apr 27, 2023.
67.9% of the maximum supply of 100.00M SOV is in circulation. 9 investors are recorded as backers, including Balaji Srinivasan, Greenfield Capital, General Catalyst. On Ethereum, 2,401 addresses hold SOV. It is available on 2 networks.
About Sovryn
Sovryn is a non-custodial, permissionless platform for trading, lending, and borrowing bitcoin and select other assets on RSK, a Bitcoin layer 2 EVM smart contract blockchain. Sovryn also features bridges for transferring assets between RSK, BSC, Bitcoin, and Ethereum chains. The SOV token can be staked to the platform for governance and revenue sharing.
Background
Sovryn's goal is to bring non-custodial, permissionless decentralized finance to Bitcoin. To accomplish this goal, it uses RSK, a Bitcoin layer 2 EVM smart contract chain. In doing so, it is attempting to leverage EVM's broad developer and platform resources while also taking advantage of Bitcoin's proof of work security.
Sovryn currently offers yield farming and trading via AMM for 11 different assets, including rBTC, ETH, and USDT. It also offers lending and borrowing of 4 different assets. Sovryn's lending pools can be used for leveraged trading (up to 5x) on the platform.
Sovryn also features bridges for transferring assets between RSK, BSC, Bitcoin, and Ethereum chains.
The SOV token can be staked to the platform for governance and revenue sharing.
Future plans for Sovryn include the introduction of perpetual swaps, limit orders, and a fiat off ramp.