In a move that will allow it to tap into the Ethereum ecosystem
London, UK, March 15, 2024 (GLOBE NEWSWIRE) -- Sovryn (www.sovryn.com), the biggest Bitcoin DeFi platform with $136M TVL, has chosen to expand their DeFi product suite to BOB (www.gobob.xyz), a hybrid L2 between Bitcoin and Ethereum. Bitcoin’s trustless mechanism offers the most reliable security and the highest liquidity of all cryptocurrencies. This partnership will remove friction for Ethereum users to move their financial activity into the Bitcoin space, allowing Sovryn to instantly tap into the large Ethereum DeFi user base.
By leveraging the combined strengths of the two largest cryptocurrencies, BOB offers users the highest security and liquidity in the market. This, and BOB’s best-in-class infrastructure, enable Sovryn to deploy their highly anticipated Dex 2.0, which boasts lower gas fees, faster transactions than Uniswap, and unparalleled capital efficiency.
Sovryn's co-founder, Edan Yago, expressed his enthusiasm for the partnership, stating, "By joining forces with BOB, we are not only expanding Sovryn's reach but also creating a DeFi ecosystem that is accessible to millions of Bitcoin users worldwide. This collaboration has the potential to surpass the success of Uniswap by leveraging the untapped potential of Bitcoin's vast user base and the combined liquidity of Bitcoin and Ethereum."
“Sovryn is the OG of Bitcoin DeFi. We’re excited to help scale Sovryn’s BTC DeFi suite to millions of users from Ethereum and other L2s. 90% of Web3 users are Bitcoiners at heart—our mission is to bring them back,” said Alexei Zamyatin, co-founder of BOB.
The Sovryn-BOB partnership comes just in time for the Bitcoin halving, and is set to kick off the “Bitcoin summer” amid rising interest in Bitcoin DeFi and L2s.
About Sovryn:
Sovryn is revolutionizing the DeFi landscape with its Bitcoin-native decentralized trading and lending platform. Empowering users with autonomous control over their assets, Sovryn has facilitated over $2 billion in trades, establishing itself as the premier Bitcoin DeFi platform. Accessible via the Sovryn dApp and $SOV on Gate.io, Sovryn is expanding the possibilities of Bitcoin and DeFi.
Visit: www.sovryn.com
About BOB (Build on Bitcoin):
BOB is a state-of-the-art layer-2 solution that bridges the gap between Bitcoin and Ethereum, enabling Bitcoin users to access Ethereum's vast ecosystem of DeFi applications. By combining the security and liquidity of both Bitcoin and Ethereum, BOB is paving the way for the next generation of DeFi innovation, establishing itself as the highest security and highest liquidity L2 solution in the market. This makes BOB the best place to build on Bitcoin. If you are a developer, start hacking today.
Visit: www.gobob.xyz
CONTACT: BOB-at-transformgroup.com
