Finally, we have usable defi on Bitcoin

Sovryn has started and finally we can say the DEFI protocols are able to run in a truly decentralized manner. On the Bitcoin blockchain where the most complex possible network security exists. ETH-based DEFI ran into a big drawback. Tokenized bitcoin is in the custody of a centralized party known as BitGo. When they going down you can not change your WBTC back into real bitcoin. This may lead to paying too high of a price for the yields on your coins.

Sovryn utilizes the RSK side-chain which runs Ethereum smart contracts on the Bitcoin network. It is a side chain so it can be scalable very well and no need to pay for tax fees of the main network. In summary you can use DEFI protocols in a cheap, fast, and secure way. The RSK side chain can handle smart contracts and ERC20 tokens. The Ethereum community better prepare for the up and coming race.

Note: the picture is from the Sovryns site, with modification.