23 Oct 2020

Sovryn is a non-custodial and permissionless smart contract-based system for Bitcoin lending, borrowing and margin trading. A DeFi platform for Bitcoiners, Sovryn has been live on RSK mainnet for roughly two weeks now, allowing users to trade Bitcoin natively and permissionless on a decentralized application. Without trusting a centralized entity or buying an altcoin, you can finally trade Bitcoin and power the system with Bitcoin. #ThisIsHowWeSovryn


Currently Sovryn features margin trading up to 5x leverage, all done on-chain. Since Sovryn is built on RSK (a Bitcoin side chain), it benefits from lower block times which average 30 seconds. This enables these transactions to resolve much more quickly than what could be done on the Bitcoin main chain.

Coinbase Pro’s fee brackets

Coinbase Pro's fee brackets

Above is a chart detailing Coinbase Pro’s different fee brackets for trades. The true winners here are the whales, who are capable of making 6–7 figure trades. At Sovryn, we treat traders the same regardless of how deep their pockets are. We believe all people are deserving of the same financial instruments with no special privileges.

Fees on Sovryn

Fees on Sovryn

For all trades on our platform, the default fee is 0.15%. To put this in perspective, this is half of the default Uniswap trading fee of 0.3% and less than half of Coinbase Pro trades under $10,000.


A chart of Sovryn’s security checks vs Ethereum DeFi & CeFi

A chart of Sovryn’s security checks vs Ethereum DeFi & CeFi

Sovryn has a handful of extremely crucial benefits over centralized exchanges when it comes to user security:

Decentralized Governance

Sovryn will be in the hands of a distributed group of stakeholders, who will ideate and propose new refinements to the Sovryn platform.

Decentralization is achieved by transferring control of the system’s smart contracts (i.e. the private keys) to a system of community governance. The SOV token will be a form of decentralized equity, “Dequity”. Its holders will have the ability to manage the protocol by staking and voting. In doing so, they will earn the right to the revenue the protocol generates. By staking it, holders will be able to actively participate in management of the protocol, changes to features and distribution of revenues and rewards. Reminder - no token is required to utilize Sovryn and trade Bitcoin. It is mainly used as a way to stake in the success of Sovryn and have voting power in its proposals.

Keep on the lookout for future announcements from Sovryn.