The Bitcoin Protocol laid the foundation for a new era of peer-to-peer financial services in 2009. This brought a big revolution to the world value system. Its inception was the key for the whole cryptocurrency industry which the blockchain, decentralized finance is part of. But it doesn't end there.

Every strong financial system requires several additional crucial services, including funding, trading, borrowing, lending, and derivatives.

Apart from this global breakthrough, Bitcoin also paved the way for the inception of Ethereum which today laid the foundation for different DApp usage ranging from Gaming and a more robust financial, security and real-world utility system built on the blockchain.

Bitcoin, with its simple and limited language "Script" was just not suitable for these kinds of applications. Script’s limitations were one of the most important factors that contributed to the creation of Ethereum by Vitalik Buterin.

Should Bitcoin be classified as DeFi or not? Its inception was a breakthrough in the world of finance and Technology. With the inception of the ERC20 standards and Solidity, it gave birth to a go-to smart contract platform to build on Ethereum.

The birth of RSK

RootStock is a Bitcoin sidechain that enables solidity smart contracts to be deployed within the BTC ecosystem. For many of the Bitcoiners that wish to see a fully fledged financial system built on the technology and ideology of this powerful asset, Bitcoin, is a possibility. Finally, Defi is possible on Bitcoin.


RSK was first announced at the Latin American Bitcoin Conference in Mexico City in December 2015. Its main net was launched in January 2018. Rootstock Network brought a new revolution to Bitcoin.


Why Decentralised Finance (DeFi) MatterDecentralised Finance is the most popular developing use case for blockchain technology and decentralised network. it is the simplest set of peer-to-peer financial services that'll require no central authority to facilitate them. They could include savings, lending, borrowing and trading. A DeFi protocol built on Bitcoin is a massive boost to the mother of Blockchain technology.


Introducing Sovryn ProtocolSovryn is a DeFi launchpad with an ironically unique foundation. It is only one of the handful of DeFi protocols that are based on bitcoin chain technology rather than Ethereum or other more recently created networks. Sovryn protocol is built with RSK. It was launched in 2020 after it successfully raised 2.1 million dollars with Eden Yago as the founder, and headquarters in Gibraltar.


Sovryn is the first project to leverage the smart contracting capabilities of RSK and offers the first DeFi protocol on the bitcoin network. RBTC is used to pay transaction fees needed, although the platform has a native token called "sov".

New to RSK learn how to interact with DApps on RSK here .https://bitcode.substack.com/p/how-to-use-apps-on-bitcoinSovryn is a permissionless and non-custodial Decentralised Finance (DeFi) protocol developed on a bitcoin layer 2 called RootStock (RSK) smart contract powered by merge-mining. Sovryn works under "Bitocracy" using the platform's native governance token called "SOV" token. Bitocracy is a governance system where no single entity can make decisions or change a system.

SOV tokens are meant to establish voting power within the platform. SOV tokens allow the holder to manage the Sovryn protocol through staking and voting and it's through the use of that voting power that the sovryn improvement proposal (SIP-0035) was democratically passed. Users who unstake SOV before the end of the staking period are subjected to an early unstaking penalty that can be as high as 30%.RBTC is the only gas of Sovryn. Sovryn needs RBTC for any transaction in the platform. BTC is converted to RBTC for use on the Sovryn platform. It enables Bitcoin to interact with a range of services on Bitcoin layer 2—(RSK).


Why Use Sovry

● Sovryn offer lending, borrowing, trading, staking and yield farming t

● User get to run the protocol

● Staking can generate excellent reward

● Stakers are awarded zero for more passive income

● Users get to establish true financial sovereignty.


How to interact with the sovryn Protocol

New to RSK learn how to interact with DApps on RSK here . https://bitcode.substack.com/p/how-to-use-apps-on-bitcoin

● Set up a wallet: users need a wallet capable of connecting to the RSK network. Users can either set up the RSK native Rwallet or add the RSK network to an existing wallet such as meta mask.

List of wallets that support metamask can be found here.

https://developers.rsk.co/wallet/use/

● Connect your wallet to the sovryn protocol: scan QR code or connect your wallet via browser extension.

● Buy RBTC: to interact with sovryn you need RBTC as gas and you can either send BTC to a bitcoin address generated by sovryn (click portfolio,then fast BTC). This will transfer you BTC from the bitcoin Blockchain as RBTC to your RSK wallet or you can buy from a decentralized exchange. E.g Kucoin.

● Interact with the protocol: then you can now trade,swap,lend, borrow and now put your Bitcoin to use.Read more about Zero on Sovryn

https://medium.com/@wearebitcoin/zero-never-sell-your-bitcoins-again-36ef131357afRSK Twitter Handle:

https://twitter.com/RSKsmartSovryn Discord :Reference :

https://bitcode.substack.com/p/how-to-use-apps-on-bitcoin

https://finematics.com/history-of-defi-explained/

https://hyperbitcoinizer.com/index.php/2022/05/18/how-does-defi-on-bitcoin-work