Bitocracy 3.0 - Sovryn's Decentralization Leap!

Sovryn steps into a new era with Bitocracy 3.0 - giving the true power to the community. This is one of the things that set Sovryn apart from any other Bitcoin DeFi project. Vote and make this a reality!

SIP-0046: Empowering Community Control
When Sovryn embarked on this journey, governance was centralized with the Exchequer Multisig. But now, Bitocracy 3.0 is about to reshape the way Sovryn is governed:

:one: Transitioning governance from Exchequer to Bitocracy
:two: Introducing Bitocracy 3.0, granting near-total control to SOV stakers
:three: Separating Bitocracy and Contracts Guardian roles for heightened security
:four: Tackling technical challenges for a seamless transition

This moment marks a profound shift towards greater security and decentralization, reinforcing Sovryn’s unique position.

SIP-0047: Fortifying Governance with Multisigs
To further bolster our governance model, we’re establishing new Multisigs for Bitocracy and Contracts Guardian roles:

:one: Deploying Safe Multisig contracts with Protofire’s expertise
:two: Updating governance and Guardian transfer scripts, preparing the way for Bitocracy 3.0

These strategic moves solidify Sovryn’s growth and resilience.

Get a Glimpse:
To dive deeper into our roadmap for leaving Alpha, check out our previous blog post :arrow_down:
[Sovryn's roadmap for leaving Alpha | Sovryn]
A more detailed version is in the works, coming soon!

Your participation is essential in shaping Sovryn’s future. Join us on this exciting journey!

Stay Sovryn!


:fist: :fist: :orange_heart:

¡Stay Sovryn!

1 Like

This is great, the platform is maturing nicely. Looking forward to vote!