sovryn

ChainCatcher message, according to the Web3 asset data platform RootData X tracking data, in the past 7 days, the automation and relay network Gelato Network has been the project with the most unfollows by X (Twitter) top figures. The new influential figures on X who unfollowed this project include NFT collector Gmoney(@gmoneynft) and well-known airdrop blogger Fengmi (@KuiGas).In addition, the projects with the most unfollows by X top figures also include Sovryn and DIA.

ChainCatcher news, according to Cointelegraph, the non-custodial Bitcoin interoperability protocol Portal has announced important strategic partnerships with Bitlayer, Sovryn, and Tari, and is set to launch an incentivized testnet. Portal provides users with a revolutionary, fully decentralized way to access Bitcoin liquidity by innovatively combining the Lightning Network and atomic swap technology. The platform does not rely on centralized intermediaries or custodians, ensuring users have complete control over their assets.It is reported that Bitlayer, as a Bitcoin sidechain/L2 solution, will provide Portal with faster transaction speeds and enhanced privacy features.Sovryn integrates its Bitcoin-backed stablecoin DLLR into the Portal DEX, enabling one-click trading with native BTC without the need for bridging, wrapping, or custody.The addition of Tari will expand the tokenization and trading possibilities of digital assets, allowing users to seamlessly trade various digital assets with Bitcoin as the settlement layer.

ChainCatcher news, the decentralized trading and lending platform Sovryn has launched Dex 2.0 on the Bitcoin L2 project BOB, bringing Ethereum users into the Bitcoin ecosystem.It is reported that the platform supports various features, including trading multiple assets, depositing into AMM pools, and staking SOV on BOB.

ChainCatcher news, according to TheBlock, cryptocurrency wallet provider Exodus Movement Inc. has added the Bitcoin-backed stablecoin Sovryn Dollar (DLLR) to its balance sheet. A report shows that the initial allocation of DLLR accounts for about 25% of Exodus's quarterly interest income, but no specific dollar figure was provided.Exodus co-founder and CEO JP Richardson stated that adding DLLR to the company's finances will help Exodus continue to obtain operating funds without relying on banking services. (Source link)

ChainCatcher news, Bitcoin DeFi application Sovryn has launched a Bitcoin-backed stablecoin DLLR (Sovryn Dollar), which aggregates from other Bitcoin-backed stablecoins and is pegged to the US dollar. Sovryn Dollar maintains a large amount of over-collateralized BTC reserves to ensure that its holders can redeem it for BTC at any time.Sovryn is a decentralized trading and lending platform based on Bitcoin developed on RSK. (Source link)

Chain Catcher news, the encrypted lending service protocol Sovryn announced the completion of a $5.4 million financing round, led by General Catalyst, with participation from Collider Ventures, Bering Waters, Bollinger Investment Group, and Balaji Srinivasan.It is reported that Sovryn's core product is an innovative lending protocol called Zero Protocol, which helps users obtain zero-interest loans using their Bitcoin as collateral, allowing users to decide when to repay. The company will use this new funding to expand its global financial operating system, aiming to provide better personal financial autonomy for people around the world. According to Sovryn core contributor Edan Yago, they do not have a company, foundation, or nonprofit organization behind them, but rather resemble a user-owned, open-source code-based cooperative. (source link)