SIP-0076 Proposal for Sovryn to Launch on CORE DAO Chain

Bitocracy
1

Summary

This SIP proposes the integration of Sovryn, the leading Bitcoin DeFi project, onto the Core DAO chain, an EVM L2 on Bitcoin.

Background

Sovryn has established itself as a pioneering force in the realm of Bitcoin DeFi, offering users a comprehensive suite of decentralized financial services tailored specifically for Bitcoin holders. However, to further extend Sovryn’s reach and solidify its position as the premier Bitcoin DeFi project, it is imperative to integrate with platforms that can facilitate seamless interaction with the broader crypto ecosystem. CORE DAO is a Bitcoin L2 with full EVM compatibility & native Bitcoin support empowering everyone to build and innovate on Bitcoin.T

CORE DAO

Motivation

Benefits to Sovryn

  • Expansion of Market Reach: Integrating Sovryn onto the CORE DAO chain will enable access to various DeFi Bitcoin chain (RSK, BOB).
    This expansion of market reach presents a substantial economic opportunity for Sovryn to capture a significant portion of the rapidly growing Bitcoin DeFi market, projected to reach $100 billion.
  • Yes Launch Sovryn on CORE DAO
  • No Sovryn stays on RSK and BOB
0 voters
2

There is some DeFi activity on CORE DAO

3

Thanks for the proposal. I’ll look at Core.

4

Are you connected with Core?

6

No I am only a Sovryn user/staker.
I started to use Core yesterday and I have 25 CORE = 60$

7

The GAME of L2 on Bitcoin has started, It is to early to claim that we know the L2 which will have a paretto effect of all users.
Excluding a L2 at this step might lead to vaccum … and on other protocol could take SOVryn place ..

Please find a list of L2 on Bitcoin, lot of sidechain/rollup will launch

https://l2.watch/

2 Likes
9

Any background of the Core initiators?

10

No I dont get any background

11

Can we proceed to an onchain vote `??

12

lambda finance will fork crvUSD into btcUSD
https://twitter.com/LambdaFinance

Fx will launch a Bitcoin stablecoin as well.
https://twitter.com/protocol_fx/status/1778423614435385763

13

Is the forum dead?? or not ?
Because I can’t have a vote alone
Moreover I don’t have 0.1%

14

it seems like people with voting power are not interested in CORE.

1 Like
15

MERLIN has even more TVL than CORE…
Merlin has more TVL than Avalanche and Polygon…

16

I don’t understand the point you are trying to make.

1 Like
17

Sovryn Dev might be open to open to other Bitcoin L2 chains

18

TVL Bitcoin L2
TVL Bitcoin L21704×875 149 KB

As discussed…
TVL
Merlin 1
Bitlayer number 2
Rootsock number 3
… BOB 7

Why not adopting a multichain approch like sushiswap??? @yago @light
Moreover Uniswap v3 / sushiswap v3 are launched yet on rootstock => less fees for Sovryn DEX !!!

19

I would like to see Core make a competitve offer to get Sovryn onnoard.

1 Like
20

Ok but Merlin , Bitlayer ???

21

I’m pretty sure I’ve seen some GitHub Activity surrounding Bitlayer.