As the bear market consumes and purges the mal-investment in the crypto space; now is a great time to find and explore projects with actual products to offer.
Today I'm going to be introducing Sovryn.
To keep it simple; Sovryn is a Bitcoin based Defi platform. This is made possible because of a Bitcoin Side chain called RSK. I'll talk about sidechains another time, but for the laymen, it is a chain that rides on and uses the hashing power of the main BTC chain.
what makes Sovryn special compared to Cefi (centralized finance) like Nexo or Celsius; Sovryn allows you to maintain control of your keys, so your bitcoin is never under custodial control by a 3rd party.
Because Sovryn is still in it's Alpha state and still maturing; as well as the RSK-Bitcoin side chain continues to mature, I dont think you should deposit all your BTC on Sovryn. I do think if you want to deploy a small % of your BTC on sovryn to earn a little yield, maintain control of your keys, and experience the growing technology that is occurring ON BTC, you wont be disappointed.
In Future posts, I'll explain more of the features and explore the benefits, but for now this is just a simple introduction. Feel free to check out the platform your self:
Buy Bitcoin
Save In Bitcoin
i love sovryn!