Bitcoin and the DeFi Revolution<\/strong><\/h2>\nIn the last two years, decentralized finance, or DeFi as it is commonly called, has taken center stage within the cryptocurrency and blockchain sector and it seems bitcoin itself is not exempt. Billions of dollars have been locked on various DeFi platforms and it seems that every day, the capabilities of DeFi technology are being explored. RSK\u2019s recent achievements are a testament to how popular DeFi as a concept has become.<\/p>\n
RSK smart contracts platform saw over 259,000 transactions as well as 50,000 active accounts in the month of April. In terms of integrations and leveraging of its platform for solutions, the RSK DeFi ecosystem has grown significantly in the last few months and also saw a 72% hashing power in the month of April alone.<\/p>\n
This is important because the RSK infrastructure framework will be able to grow in use over time and this benefits the ecosystem. This growth in use has been credited to the general interest in RSK as well as the launch of Sovryn. Sovryn was launched on April 13, 2021, and was publicly supported by crypto influencers like Anthony Pompliano.<\/p>\n
Sovryn also saw a $9 million investment from its consortium of partners the day that the token went live.<\/p>\n
Sovryn is known for providing native and non-custodial trading and lending of bitcoin as well as leveraging up to five times for holders of various tokens like bitcoin, USDT, and the Dollar on Chain. This project is expected to further the growth of DeFi platforms as a whole and this was reiterated by its co-founder Edan Yago.<\/p>\n
\u201cThe launch of Sovryn, which provides native and noncustodial trading and lending of BTC, represents a major step forward for DeFi projects built on the Bitcoin blockchain. It has driven amazing growth on the RSK blockchain. We are very excited about the future of the platform which has proven to fulfill a need in the Defi space,\u201d<\/em> he said.\u00a0<\/p>\nSource: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Most people in the cryptocurrency space have<\/p>\n","protected":false},"author":3,"featured_media":123571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"\n
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