On Sept. 15 at 1 p.m. UTC, AscendEX has proudly announced the listing of the Sovryn token (SOV) under the trading pair USDT/SOV.
Bitcoin-based decentralized finance (DeFi) protocol, Sovryn is launched in early 2020 with the aim to provide the tools to trade, lend, and leverage Bitcoin and other assets without any permission and secured by the Bitcoin Blockchain with a minimal amount as a gas fee. Their trading interface is designed especially for Bitcoin-native DeFi users which offer them limitless transactions and support for multiple trading assets. Sovryn tends to connect Bitcoin with the whole crypto ecosystem along with maintaining high security and flexibility.
Sovryn token holders are allowed to use the Defi tools and they are not required to leave ownership of their coins. They can also leverage its infrastructure for a Bitcoin-native DeFi layer integrated with Ethereum, Binance, and other assets and chains.
The token, SOV, of this platform is used for making decisions about the project’s future and governance process and centralized parties can be prevented from controlling the platform. By holding SOV, feels like gaining access to an index of Bitcoin DeFi.
Sovryn has successfully raised funds of $23M from investors like AscendEX, Greenfield One, etc. Sovryn has achieved over $568M in transactions, $77M Total Value Locked (TVL), and $551M Assets Under Management (AUM) to date.