Sovryn (SOV)

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Revision as of 07:13, 28 June 2021 by wiki_crypto>Zeb.dyor
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 Basics

 Sovryn will soon provide permissionless and uncensorable spot trading, leveraged trading, borrowing and lending."

History

Token

Launch

"Sovryn plans to launch a governance token which mimics Compound Finance’s model in Q1 of 2020 with its SOV token sale."

  • Raised (3-3-2021) $10 million in a token presale (in BTC).

Token allocation

Utility

Token Details

Stablecoin

Technology

  • Whitepaper can be found [insert here].
  • Code can be viewed [insert here].
  • Built on: Rootstok

How it works

"A 2-in-1 decentralized exchange and derivatives market, Sovryn will offer traders borrowing and lending service in bitcoinUSDT and RSK’s dollar on chain (DOC) stablecoin; they can also long or short bitcoin on the platform with up to 5x leverage."

Mining

Staking

Liquidity Mining

Scaling

Different Implementations

Interoperability

Other Details

Privacy Method

Compliance

Oracle Method

  • Has a partnership with API3 that aims to bring decentralized data and information infrastructure to Rootstock (19-5-2021).

Their Other Projects

DEX

Governance

DAO

Treasury

Upgrades

Roadmap

  • Can be found [Insert link here].

Audits

  • Bug bounty program can be found [insert here]. They offer $1.2M (3-3-2021).

Bugs/Hacks

Usage

Projects that use or built on it

Competition

Coin Distribution

Pros and Cons

Pros

Cons

Team, Funding, Partnerships, etc.

Team

  • Full team can be found [here].

Funding

"Launched today with $2.1 million at its back – a symbolic number representing Bitcoin’s total supply. Crypto venture capital firm Greenfield One led the funding round, which also saw contributions from Collider Ventures and Monday Capital."

  • Raised (3-3-2021) $10 million in a token presale (in BTC).

Partners