Snapshot
Continue to About ↓- What it does
- Sovryn is a non-custodial, wallet-based DeFi application for Bitcoin holders, running mainly on the Rootstock Bitcoin sidechain and also on BOB.
More detail
- Users connect their own wallet to swap and trade Bitcoin-related assets, lend, borrow against Bitcoin collateral, earn yield, stake the SOV governance token, and use the Bitcoin-backed Sovryn Dollar (DLLR) stablecoin basket.
- The protocol itself requires no sign-up or KYC, and users keep control of their keys and funds.
- Best for
- Self-custody Bitcoin holders who want to borrow stablecoins against BTC rather than sell, trade spot or margin from their own wallet, earn yield through lending or liquidity provision, or hold a diversified Bitcoin-backed stablecoin.
More detail
- Suits users comfortable managing wallets, keys and gas themselves.
- Pricing
- Sovryn is not subscription-priced; it earns through protocol fees and spreads.
More detail
- The official wiki lists a 0.25% trading fee on opening a position (split roughly 0.15% to Sovryn and 0.1% to liquidity providers) with no fee on close, swap fees of 0.3% (v1) and 0.1% (v2) to liquidity providers, a 0.09%
- Main limitation
- Beginners or anyone wanting a custodial, insured or regulated banking-style product, since Sovryn does not hold funds and users are fully responsible for wallet security.
More detail
- Also a poor fit for users unwilling to acquire RBTC for gas or to accept liquidation and impermanent-loss risk.
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- Living and monitored
- Reviewed
- Evidence
- Public web research
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- Structured profile ↗
About
- Sovryn is a non-custodial, wallet-based DeFi application for Bitcoin holders, running mainly on the Rootstock Bitcoin sidechain and also on BOB.
- Users connect their own wallet to swap and trade Bitcoin-related assets, lend, borrow against Bitcoin collateral, earn yield, stake the SOV governance token, and use the Bitcoin-backed Sovryn Dollar (DLLR) stablecoin basket.
- The protocol itself requires no sign-up or KYC, and users keep control of their keys and funds.
What it helps with
- Bitcoin holders who need liquidity without selling their BTC can borrow stablecoins against it through the overcollatera
- Traders who want to keep custody of their keys can swap, place spot and limit orders, and margin trade from their own wa
- Users worried about single-issuer stablecoin risk can hold or use the Sovryn Dollar, which aggregates several Bitcoin-ba
- Asset holders seeking yield can lend to borrowers and margin traders, provide AMM liquidity for weekly protocol rewards,
- SOV holders who want influence over the protocol can stake for governance voting power and a share of protocol revenue.
- Users who do not want to hand funds or personal data to a centralized intermediary can use a protocol that requires no s
- Users concerned about smart-contract risk can point to Sovryn's third-party audits and its $1M Immunefi bug bounty as st
- People who want to avoid Ethereum-level gas costs can transact on Rootstock, which Sovryn claims has 40x-50x cheaper gas
Capabilities
A practical view of what is available and where limitations apply.
| Offering | Available | Detail |
|---|---|---|
| Zero interest-free borrowing | Yes | Marketed as borrowing USD stablecoins against BTC at 0% interest with no repayment deadlines; overcollateralized and carries an undisclosed fixed fee. |
| Spot trading and swaps | Yes | AMM-based market and limit orders with oracle-pegged pricing, executed from the user's own wallet. |
| Margin trading | Yes | Leverage up to 5x borrowing from the lending pool, with partial liquidation if margin falls below 15%. |
| Lending | Yes | Lend BTC and other assets to borrowers or margin traders; interest rates float with supply and demand, with 90% to lenders and 10% to Sovryn. |
| Liquidity provision and yield | Yes | AMM liquidity pairs pay weekly protocol rewards; oracle rebasing aims to reduce, not eliminate, impermanent loss. |
| SOV staking and governance | Yes | Stake SOV for protocol revenue share and Bitocracy voting power; longer stakes carry more voting weight. |
| Sovryn Dollar (DLLR) stablecoin | Yes | A censorship-resistant stablecoin aggregating multiple Bitcoin-backed stablecoins into one diversified basket. |
| Self-custody and no sign-up | Yes | Wallet-based access with no account system or protocol-level KYC; users are entirely responsible for wallet security. |
| Security audits and bug bounty | Yes | Third-party audits and a $1M bug bounty via Immunefi are stated on the official features page. |
| Regulated or insured custody | No | Sovryn is permissionless smart-contract DeFi, not a licensed broker or bank, and does not hold user funds. |
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Evidence
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- The owner has not manually confirmed every field.
- Last reviewed
- Primary source
- sovryn.com
Technical profile details
Record ID
854ad5eb-ebbe-426d-8f80-f238cbccebedCanonical URLhttps://profiles.scribble.network/listing/sovryn-854ad5eb