Company attributes
Industry
Location
AngelList URL
Pitchbook URL
Number of Employees (Ranges)
11 – 50
Email Address
adoption@sovryn.app
Phone Number
+17155330709
Investors
Total Funding Amount (USD)
16,500,000
Latest Funding Round Date
October 1, 2022
Business Model
Commerce
Stock Symbol
SOV0
Latest Funding Type
Wellfound ID
Cryptocurrency attributes
Ticker Symbol
SOV
Maximum Supply
100,000,0000
Block Explorer URL
Other attributes
Circulating Supply
20,999,9290
CoinGecko ID
Community Forum
Company Operating Status
Active
Cryptocurrency Symbol
SOV0
Funding Round Date
March 3, 2022
Funding Round Amount (USD)
1,500,000
Funding Type
Invested in
Investment
Funding Round Investor
Latest Funding Round Amount (USD)
5,400,000
Official Name
Sovryn
Public/Private
Public
Taxon Common Name
SOV
Total Supply
100,000,0000
Sovryn is a non-custodial and permissionless smart contract-based system for Bitcoin lending, borrowing and margin trading. There is no single company, organisation or individual that represents or controls the Sovryn protocol.
Sovryn is an on-chain decentralised protocol deployed on the Bitcoin sidechain, RSK. RSK is a Bitcoin layer 2 smart contract protocol.
What features does Sovryn offer?
- Spot-Exchange - a low cost, low-slippage, AMM allowing instant trades between tokens.
- Margin Trading - Creates up to 5X long/short trades, allowing users to borrow leverage from the lending pool.
- Lending Pool - Allows HODLers to earn interest by lending tokens to margin traders and borrowers.
- FastBTC Relay - Allows use of Bitcoin almost instantly with smart contracts and decentralized products, from any Bitcoin wallet.
- Borrow - Allows users and smart contracts to borrow tokens from the lending pool. All lending is over-collateralized.
- Perpetual Swaps - BTC backed perpetual swaps allow trades with up to 20X leverage. (coming soon)
- Bitcoin-backed Stablecoin - users can use a USD-pegged token, backed by overcollateralized Bitcoin. (coming soon)
Timeline
No Timeline data yet.
