Hello
The aim of sovryn is to deliver DeFi (Lending , AMM, and stablecoin ) on Bitcoin side chain, using Bitcoin as collateral.
However there is an opportunity to expand the protocol and earnings in a similar ecosystem.
Dogecoin has 11B $ marketcap (Bitcoin has 737 B$ marketcap) and is also a PoW coin.
Dogecoin has a sidechain L2 EVM Dogechain (which using Polygon technology). Dogechain will also migrate to zkEVM and be connected to Ethereum.
There is an opportunity for Sovryn to launch on Dogechain using Doge.
Moreover I have a feeling than Doge holder will be more involved in using their Dogecoin to mint to stablecoin because Doge could be seen as silver and BTC as gold (you are ok to spend your silver but keep gold).
- Yes with Doge stablecoin called DLLR
- Yes with Doge stablecoin called DogLR
- No Sovryn is only Bitcoin DeFi
https://defillama.com/chain/Dogechain
On Dogechain, the main DeFi protocol is Quickswap (the same protocol which is the first Dex on Polygon)
There is not yet a lending platform and Collateral Debt Protocol, which could be an opportunity for Sovryn
I’m generally against going on chains besides BTC. That being said: are you proposing we put SOV on Doge with a bridge (token lockup), or Mint new?
I propose to copy the protocol on Dogechain, put SOV token on it.
Expand lending market on it
Mint a stablecoin using DOGE as collateral, and a vote to know if it is called DLLR or DogLLAR
Not lot of activity on this post…
We should call it CLLR…
Im not a fan of the idea. Most of us here are pretty conservative with shitcoins, which is probably why you aren’t getting any attention on this.
We should not spend time on Dogechain. I prefer deploying DLLR to Bitcoin Mainnet with RUNE or Taproot token standard.
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Gresham’s law
I think that there is an arbitrage between BTC and DOGE, similar to the Gresham’s law between Gold and Silver (LTC , BCH, BSV are already dead and the only alternative PoW coin is DOGE)
So there is an opportunity for Sovryn to get funds from the arbitrage.
Because people are to spend silver and keep gold… similar BTC and DOGE
Doge is not sliver but dogshit.
2 Likes
Do we have enough discussion? can we launch a vote?
you need to write proposal and submit the proposal with 1% of total voting power.
Unfortunately I don’t have the 1% of voting power…
There is a function for users to delegate VP to any address.
Yes but the delegate has to write the proposal…
Is there a list of delegate to contact?
I don’t know what you expect. You should be the one write the proposal.
You can tell people to delegate to you in social media like telegram, discord and X.