SOVUSDT
SOV / Tether USD
crypto

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. Sovryn is powered by smart contracts running on RSK, an EVM compatible Bitcoin layer 2 chain. RSK's rBTC is central to Sovryn, and it is currently the only wrapped BTC solution that Sovryn supports. Sovryn's security and viability is highly dependent on that of RSK. Sovryn's trading platform is based on smart contracts following the familiar automated market maker (AMM) model, and the majority of its emissions are targeted to incent users to provide liquidity. It is a fork of Bancor v2. Sovryn's borrowing/lending platform is based on smart contracts forked from bZk. Like most of its competitors, it features variable interest rates that change automatically based upon the applicable smart contract's supply/demand metrics.