Sovryn SOV

1. Summary

Ranks

Liquidity

31

Developer

-

Social

85

Momentum (beta)

12

Stack Rank™

-

Price

$0.58 +0.5%

Market Cap

$37.36M (#693)

Supply

61.71M / 100.00M

Tags

Ethereum Ecosystem

More Metrics

Price
52W High price	$2.59
52W High date	20th Feb 2024 (5 months ago)
All Time High (ATH) Date	7th Oct 2021 (2 years ago)
ATH Price	$43.98
% From ATH	-97.24%
All Time Low (ATL) Date	23rd Dec 2022 (1 year ago)
ATL Price	$0.17
% From ATL	626.41%

Supply & Trading Volume
Trading Volume (24h)	$126,168.00
Total Supply	100.00M
Max Supply	100.00M
Circulating Supply	61.71M

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Description

Sovryn is a decentralized, non-custodial, and permissionless smart contract-based system designed for Bitcoin lending, borrowing, and margin trading. It allows users to manage their digital assets without relying on a central authority. The system is powered by Bitcoin and ensures complete control over funds and transactions.

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Sovryn is a decentralized, non-custodial, and permissionless smart contract-based system designed for Bitcoin lending, borrowing, and margin trading. It allows users to manage their digital assets without relying on a central authority. The system is powered by Bitcoin and ensures complete control over funds and transactions.

Key Features

• Zero Protocol: Offers 0% interest loans when borrowing against Bitcoin. Loans are issued instantly and permissionlessly, with no credit checks or sign-up required.
• Non-Custodial: Users maintain control over their digital assets, which remain locked in smart contracts until the loan is paid off.
• Decentralized: Operated purely by smart contracts with no central controlling entity, ensuring censorship resistance and governance through stakers.
• Interoperability: Compatible with hardware wallets, allowing users to interact directly from their wallet.
• Stability Pool: Loans are secured by a pool containing both the DLLR stablecoin and borrower contributions, which collectively act as guarantors.

Activities and Features

• Margin Trading: Use assets as collateral to borrow more assets or increase initial positions.
• Liquidity Mining: Fees generated by trading are distributed amongst liquidity providers as a reward.
• Market Making: Facilitates the frictionless use of financial primitives across multiple chains.
• Lending: Earn a passive income by lending assets directly to borrowers or margin traders.
• Stake and Vote: Token holders who stake their SOV receive a share of revenue and can participate in the governance of the protocol.
• Multiple Token Support: Supports multiple tokens, including RBTC, SOV, DOC, BPRO, rUSDT, xUSD, and MOC.

Governance

The Sovryn protocol is governed by stakers, ensuring that users have control over the system and its future developments.

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