Sovryn’s and BOB are offering early users a piece of the new Bitcoin economy.
On the Halving, Bitcoin is Getting New Technologies: Rollups and Tokens. Sovryn’s New Initiative is How to Get In Early
This article was published more than a year ago. Some information may no longer be current.
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With the Bitcoin Halving less than a month from now, Bitcoin will get two significant technological additions: Rollups, which will allow an increase in user adoption, lower fees, and smart contract capabilities, and native Bitcoin tokens called Runes. These two additions are set to change the crypto landscape as more and more liquidity will pour into Bitcoin from other ecosystems such as Ethereum.
Runes will allow the creation of native memecoins, stablecoins, and other tokens on Bitcoin. BRC-20, a Bitcoin native token standard introduced in 2023, has quickly taken a big bite of the memecoin market. Runes, which offer a more advanced token standard, are expected to quickly rise to dominance as the token standard to watch.
Today, Build on Bitcoin (BOB) launched its points program, Bob Fusion, alongside the Sovryn Runes & Extra Spice program. These initiatives are set to bring a new level of excitement to the Bitcoin ecosystem as the halving approaches.
Sovryn Offers 50% Extra Spice and Runes Opportunities
In the BOB Fusion program, users can deposit funds into a timelock and collect points called Spice. The more and longer they lock, the more Spice they earn. If they deposit through Sovryn, they earn 50% more points and additional Runes on top.
Simultaneously, Sovryn is launching its Sovryn Runes & Extra Spice program. This program offers users the opportunity to lock funds into a timelock and receive two types of points: Spice points with a 50% bonus compared to Bob Fusion and additional Runes Points. By depositing through Sovryn, users can maximize their rewards and gain access to the upcoming Runes token.
Runes Points will be redeemable for a Runes token. Both programs will conclude around the Bitcoin halving (~April 24), when Bob launches its mainnet. At the end of the program, all deposited funds will be unlocked and available to users on the Sovryn DEX.
The Sovryn Runes & Extra Spice program accepts a wide range of assets, including wBTC, tBTC, wETH, wstETH, rETH, eDLLR, USDT, USDC, DAI, USDe, and ARB.
Runes Trading on Sovryn: Fast and Cost-Effective, Bridge is now in testnet.
Runes tokens are a highly anticipated new fungible token standard on the Bitcoin blockchain, set to launch during the upcoming Bitcoin halving. As an alternative to the popular BRC-20 tokens and Ordinals, Runes aim to provide a more efficient and user-friendly way to create and trade tokens on the Bitcoin network.
In preparation for the Runes launch, Sovryn has developed a bridge to Runes to enable the seamless movement of Runes tokens between the Bitcoin mainchain and the Sovryn DEX. “We expect Runes trading to launch on Sovryn simultaneously with the Runes standard launch. Sovryn will be the first DEX that will enable Runes trading,” Says Edan Yago, Sovryn core contributor.
Once Runes are live on the Bitcoin network, Sovryn will offer a fast, user-friendly, and cost-effective platform for trading Runes tokens. As the Runes ecosystem grows following its launch, Sovryn is poised to play a crucial role in driving the adoption and liquidity of these innovative tokens.
As the Bitcoin halving approaches, the Sovryn Runes & Extra Spice program is set to bring a new level of excitement and opportunity to the Bitcoin and DeFi ecosystems. With the introduction of Runes tokens and the promise of a more accessible and user-friendly DeFi experience, users can look forward to an exciting future in the world of decentralized finance.
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