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_Bitcoin-native DeFi is an unexplored galaxy in the blockchain universe. Take part in pioneering this new sector with us as we build the future of a borderless, digital financial operating system.
Sovryn, the leading protocol for DeFi on Bitcoin, is proud to announce Sovrython, a virtual conference and hackathon taking place from June 4th - July 18th 2021, with $250k in bounties and $250k in post-hackathon grants for promising projects. This amounts to $500k of support for developing open source DeFi software that integrates with the Sovryn protocol and platform. Bounties and grants will be paid out in Sovryn’s native token, $SOV.
Bitcoin is the solid foundation upon which to build the future of finance. It is transparent, incorruptible, programmable money. Innovating on Bitcoin does not mean changing Bitcoin Mainchain - it means building new layers of superpowers that extend the capabilities of Bitcoin. Sovrython is an opportunity to join other Bitcoin Mutants at the cutting edge of blockchain tech: sidechains, DeFi, Lighting Network and Layer 2 systems.
“‘Finally’. That was the word that came to mind when I first learned about Sovryn. It is also the reaction of so many others in the Bitcoin space. Finally, Sovryn is allowing the full potential of Bitcoin to be unleashed, to build, not just a transparent and incorruptible global monetary system, but also to construct a fair and transparent financial system on top of it.” -Edan Yago, Cofounder, Sovryn
To reach the widest possible audience of participants for the hackathon, Sovryn has partnered with Gitcoin, a community for developers to collaborate and monetize their skills while working on open-source projects through bounties and grants. Since launching in 2017, gitcoin has enabled a total of $19M in funding for open source software.
Producing Sovrython with Gitcoin enables Sovryn to:
Sovrython is a 6 week long hackathon inviting developers from all chains to collaborate on L2 solutions utilizing EVM / Solidity compliant composability on the RSK sidechain for Bitcoin-native DeFi.
Just like the Big Bang - the very genesis of space-time that flung matter and energy in all directions, forming stars, planets, and lifeforms - Sovrython will spawn a new ecosystem of products and protocols that integrate with Sovryn, advancing Bitcoin-native DeFi. With that, there are numerous opportunities for developers to build, and we have the rocket fuel ($$$) to sponsor your efforts in the following tracks:
In addition to the $500k in bounties / grants provided by Sovryn, Sovrython will feature additional partner bounties in the Gitcoin explorer. These partners hail from blockchain ecosystems that are in alignment with our mission to boldly move forward in building Bitcoin-focused DeFi together. If you or your company / project would like to sponsor an additional partner bounty, please use the Sovrython Signup Form no later than Friday May 28th.
At the time of publishing, we are delighted to announce the following partners:
Akash Network, the world’s first decentralized and open-source cloud, accelerates deployment, scale, efficiency and price performance for high-growth industries like blockchain and machine learning/AI. Known as the “Airbnb for Cloud,” Akash Network provides a fast, efficient and low-cost application deployment solution. Developers leveraging Akash Network can access cloud computing at up to three times less than the cost of centralized cloud providers like Amazon Web Services, Google Cloud and Microsoft Azure. Utilizing containerization technology, Akash Network leverages 85% of underutilized cloud capacity in 8.4 million global data centers, enabling anyone to buy and sell cloud computing.. Akash’s Interoperable Proof of Stake Blockchain is an open and globally consistent shared state machine that guarantees sovereignty over data and runtime with a high-performance RPC layer with multi-language libraries and bi-directional streaming.
Akash is providing an additional $100k in bounties and grants for Sovrython.
“Sovryn is enabling decentralized finance (DeFi) for the most valuable blockchain, Bitcoin. This is a game-changer because Sovryn is the first smart contract platform for Bitcoin enabling the DeFi ecosystem, and hosting this on Akash’s decentralized and open-source Cloud is a big win for both teams. This partnership will give Sovryn an advantage over other DeFi ecosystems by tapping into Akash’s powerful middleware layer for developers, critical for a better end user experience. Sponsoring Sovryn’s hackathon is an important way of empowering more community members by funding their projects.”-Greg Osuri, CEO of Akash Network
API3 is a collaborative project to deliver traditional API services to smart contract platforms in a decentralized and trust-minimized way, that is governed by a DAO. At its core, API3 brings the ability for API providers to easily run their own oracle nodes to provide data on-chain without an intermediary to any decentralized application. At the heart of this mechanism sits Airnode, an open-source oracle node that is designed to be easily deployed by any API provider with almost no maintenance. With Airnode, dApp developers can write smart contracts to interact with the on-chain data of API providers.
API3 is providing $25k worth of bounties for submissions to Sovrython which integrate their open-source oracle, Airnode. Sovryn is matching this amount, for a total of $50k in bounties.
“API3 is excited to participate in Sovrython. The potential for dapps to be created that both use external data and benefit from the security of Bitcoin’s blockchain is incredible, and we are proud to play a part in unlocking it.” -Dave Connor, Business Development Lead, API3
Interlay envisions a future where blockchains can seamlessly connect and interact, regardless of their design and purpose. Anyone should be able to use any digital currency on any blockchain platform without restrictions. Interlay’s mission is to enable Bitcoin holders to easily earn passive income on their BTC holdings by investing into decentralized financial products on any blockchain - without trusting centralized services.
“Bitcoin DeFi is still early and there is a lot of work to be done around UX, tooling, and user & developer onboarding. This should be a goal common across all Bitcoin-focused companies and is in line with our vision of trustless Bitcoin DeFi on any blockchain. Interlay is glad to support the Sovryn Hackathon with challenges / bounties and as a judge to further these ecosystem goals” - Alexei Zamyatin, CEO, Interlay
The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain which enables developers to map human-readable names to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS also supports ‘reverse resolution’, making it possible to associate metadata such as canonical names or interface descriptions with Ethereum and other chain addresses.
“ENS is the naming standard for the whole blockchain ecosystem, including non-Ethereum chains. You can use one ENS name for all of your crypto addresses. We’re happy to participate in Sovrynthon to encourage better cross-platform integrations in the blockchain industry.”
-Brantly Millegan, CDO, Ens Domains
The virtual conference will take place online at sovrython.sovryn.app utilizing the open source conference platform interspace.chat. We are programming three days of talks at the beginning of the Sovrython from 4 - 6 June, and for three days at the end of the Sovrython from 16 - 18 July. All talks will be available on the Sovrython Event Calendar.
Together with the cryptoliberation association, Parallele Polis, we are putting together an exciting lineup of speakers and judges from all across the Bitcoin, ethereum, Web3 and DeFi ecosystems. If you would like to apply to give a talk, participate in a panel discussion, or act as a judge, complete the Sign-up Form no later than Friday, May 28th.
At the time of publishing, we are delighted to announce:
Corey Petty of The BTC Podcast / status.im
Max Hillebrand Wasabi Wallet Dev
Joerg Platzer Room 77 / Paralelni Polis
Muneeb CEO, Stacks
Greg Osuri CEO, Akash Network
Boris Mann Founder, Fission Codes
Brantly Millegan BizDev, ENS Domains
Udi Wertheimer, Legend, Have Fun Staying Poor
Alexei Zamyatin, Founder, CEO, Interlay
John Light, lightco.in
Dan Held, Growth
Eric Meltzer, Proof of Work
If you intend to accept the Sovrython bounty challenges as an individual or a team, sign up via Gitcoin’s onboarding page for Sovrython. Starting on June 4th 2021 at 12pm UTC, explore the bounty descriptions posted on the Sovrython Gitcoin Page, clicking prizes to show important details such as the project bounty, submission requirements, submission deadline, experience level, time left, etc.
Starting on June 4th 2021 at 12pm UTC, join the Sovrython discord channel to meet other hackers, ask the Sovryn team and partners questions, find or create a team, and communicate in real-time. When your team is formed, one of your teammates will need to navigate to each prize page you plan to compete for and click the “Start Work” button. Now it’s time to BUIDL your ideas and manifest your vision alone or with your team! When your project is completed click on the “Submit Work” button on the Sovrython Gitcoin prize page.
Deadline for all submissions is Thursday, July 14th.
Join us on our journey of cosmic innovation as we develop our financial OS for Bitcoin. We have only just gotten started. So stay tuned.
And stay Sovryn.