Stay Sovryn: Ride The Bear

brought to you by Sovryn

May 24, 2021

Dips come and go but Sovrynty is forever.

This week we invite you to ride the bear with us as we chase down fear in the market with multiple feature launches and promotions. Come with us, put your crypto to work, be rewarded and emerge victorious.

As of Monday the 24th of May, the SOV/BTC AMM pool began its biggest liquidity mining event yet. Sovryns can now take part in a loot drop of 40k SOV, and that’s just the first week of the event! Additional weekly rolling rewards will be revised and announced at the end of each week.

Next, we celebrate the activation of the Ethereum bridge. We encourage you to bring your ETH over to Sovryn in anticipation of a forthcoming loot drop. There will be a small airdrop of rBTC to the first 10,000 users who bring $100 of ETH over the Bridge. To be eligible users must not already hold rBTC in their wallet. The airdrop will be made automatically and is to allow new users to begin transacting straight away.

Following that, the ETH/BTC pool will become live, allowing users to provide ETH and BTC liquidity in return for a share of 35k SOV rewards for the first week. As with the SOV pool, the rewards on the ETH pool will roll over into subsequent weeks, with additional weekly rewards being revised and announced towards the end of each week.

Next up, ETH margin trading will be enabled. You can look forward to non-custodial long and short positions on ETH/BTC with up to 5x leverage at some of the lowest fees in DeFi.

Finally, during this sprint the Transak fiat on-ramp will be released. This will allow users to buy BTC from within Sovryn using fiat currencies!! This means you will be able to exit fiat directly to BTC using Sovryn and BTFD!

Look out for more details over the coming days and #StaySovryn

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