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
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.
Will be the place to be I assume given the limited research I have done. I do not see a benefit of moving around more. If you can get to rsk and bob via core then you can also do the same from rsk and bob. The power of what SOV has done in my opinion over the last 3 years is because of their ability to focus on the work needed to be done and have conviction.
If you read this and think I have no clue what I am talking about then send me to a place where I can understand it more.
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