Coin Watch – Sovryn (SOV) – A Game Changer and One of My Top Picks of 2021

Let me start off by stating (and this gets a little personal)…

I am in cryptocurrency for many reasons. I value freedom and sovereignty, I cant stand the government and people telling others what to do. I cant stand banks telling me how much of my own damn money I can spend, where I can spend it and how. (No really, so many times I have had to call my bank to let me spend my own money because there is a daily limit and it makes my blood  BOIL). Believe it or not, I am in it for the tech. I’m in it for the political and societal ramifications. I am in it because I believe if people take back their freedom, maybe more people around the world will gain some common sense back and maybe we can make things better. I believe the only way to make things in this world better is through enlightening ourselves and IMHO one of the necessary things in life to self actualize and thus achieve this is freedom.

Anyone who knows me in the crypto space knows I am a fundamentalist. These fundamentals are deep to the core for me. Generally, I see a lot of people out there whether in the crypto space or on various news channels who discuss crypto, that don’t seem to really get into the core fundamentals of crypto. But there are others like myself and many others that are in the space that do. For us, we came here because there was a spark inside of us that had seen corruption, seen the lies and manipulation of masses, seen the ills of the earth, of humanity and understood that one of the biggest ways to change things is by voting with your wallet. By taking back your sovereign rights and it is to my understanding, that rights are not something you ask for, it’s something you take.

When I decided to put everything I have into crypto, this is what it was to me. It was political, it was personal. I didn’t make it this way. Society did, the blissfully ignorant people around me did. Governments did. Banks did. I will always promote projects that align with my values. but these are not just my values. I believe that these values also align with the vision of Satoshi Nakamoto and THIS is why I 110% support the Sovryn project. There is a lot to cover here so let’s get into it.

Fundamentals

As I have stated. I am a strong believer in the vision of Satoshi. When I read the Bitcoin White paper, to me I was reading more then a white paper. I was reading a new economic theory. I was reading the answer to so many problems in the world. I was reading the catalyst for real world, tangible and viable inclusivity where anyone could participate, anyone could invest, anyone could mine. Fast forward to when I first came across the Sovryn project and read the black paper and it gave me that same feeling in my core. I was reading more than a paper. More than just figures. I was reading the extension and next evolutionary step in the expansion of Bitcoin itself, In Sovryn.

Ever wonder… For Bitcoin being the originator of all of this, this ENTIRE market…  How is it that it does NOT have DeFi??

What is Sovryn?

Sovryn DeFi takes Bitcoin and adds to it everything we need, everything it was missing. It adds swaps, it adds lending, it adds borrowing, it adds market making, it adds staking, it adds leverage trading, it adds governance, it adds NFT’s. And it’s all, and I mean ALL decentralized and trustless, with a DApp, and it runs on Bitcoin and the smart Bitcoin side chain, RSK Network. Make no mistake here. This is the holy grail.

Whats more is that Sovryn is not just a DApp. As stated, one of the things that this project has under its belt is that it has governance. Now let me say, I have participated in plenty projects but the governance with Sovryn is the of the few to me feels real. Why? Because you actually get to actively vote on the goings on with the project. This is REAL governance and everything the project does is proposed and voted on and ownership of the SOV token gives you access to vote. This is a true Bitocracy.

*Side note. I wrote an article in the past here and one of the points made is that decentralized cryptocurrency and blockchain could single handedly stamp out voter fraud and voter corruption, and right here, right now we have a working example of this. I hope people are taking notes.

Fundamentals (further considerations)

As stated, Sovryn runs on Bitcoin and the RSK side chain to Bitcoin. Sovryn allows Bitcoin holders and traders to interact with DeFi. But we need to get more into this because there are some things that need to be explained here mechanically.

As you may know, Ethereum and other chains have wrapped bitcoin but we must understand how this works. When you buy a wrapped bitcoin, you are trusting that the custodian has 1 bitcoin for every wrapped bitcoin you buy. This is an issue. You are basically trusting that the real bitcoin you give up that is worth a ton of money will be backed by a real one and in return you get a wrapped one, and well, who knows what could happen to the custodian? Do you know them? Do you trust them? Remember, the core values woven into cryptocurrency is to be trustless with no centralized entities to the best of ability. A centralized entity is a target. It could be subject of government intervention, attacks, hacks, you name it. If something happens to the custodian, POOF! something happens to your wrapped bitcoin. Remember, not your keys, not your coin.

What Sovryn has, is a decentralized peg to bitcoin. This means there is no central point of failure, there is no target to be attacked on Sovryn. Another thing is, when you interact with sovryn DeFi using Bitcoin, you are secured by Bitcoin. Whereas when you interact with wrapped bitcoin on Ethereum you are secured by Ethereum. As we all know, Bitcoin is the most secure asset in crypto. Sovryn also has the largest bug bounty ever offered in the crypto market. Sovryn is non custodial so you are not giving them your bitcoin in exchange for a wrapped one. You are using your own Bitcoin and there is no intermediary.

This makes Sovryn a place where Bitcoin (which is the largest and most traded asset in crypto), can be traded and secured by Bitcoin in a decentralized and trustless way. There is no need to make an account on the platform, nor does anyone have to do KYC. You don’t have to ask your nanny state if it’s okay to trade or send anyone your passport or drivers license to be able to participate. This is true DeFi with bitcoin, how it was intended to be. When you think of it, it’s very asinine that we use centralized exchanges to trade decentralized assets, isn’t it? Now we don’t have to.

With all this said, the SOV token itself IMHO is something anyone and everyone who sees the vision of Satoshi and the potential of Bitcoin and cryptocurrency as a whole to help change the world for the better, should own. With Sovryn granting all bitcoin holders the access to true DeFi and the SOV token granting access to help shape the platform itself and be a part of its Bitocracy, this is big.

Where can it go?

I truly believe that Sovryn and its token SOV could overtake Uniswap in its ranking and market share over all. Whats more is that as I stated earlier, are we here to trade decentralized assets in centralized exchanges?? I envision a time where DEX’s will over take CEX’s. That day is coming, that day is what we should all be working toward as per the fundamentals of this market. I believe Sovryn could bring us closer to that goal. Remember that Sovryn is the first of its kind, again allowing the largest traded asset to interact with DeFi.

Sovryn is also very close to launching its Ethereum bridge. There will also be a Binance smart chain bridge. This is just more fuel to the fire and will make Sovryn interoperable and readily accessible to the masses of crypto investors on both chains and both areas of market share.

Sovryn also has the use case of a DAO. There will be other projects launching on Sovryn and with the SOV token you will be able to participate in these sales.

We need to understand the full scope of what we have here. Sovryn is not just a decentralized exchange, it is light years beyond that. Sovryn is the next step forward for bitcoin and a financial operating system that extends the use of Bitcoin.

The Numbers

At the time of writing the market cap of SOV is 150,986,202. To me this is extremely low for a project like this. If we tally up all the fundamentals and the narratives behind this powerhouse I can see SOV challenging Uniswap at number 9 on CMC which sits at a market cap of 22,171,685,637. I’ve herd others say it will get to “at least” a billion market cap and IMHO this is way too low of a call for what it is. This project is a buy, hold and stack for the long term. This gem of a project is more than worthy of top 10 – 20 on CMC.

The community

I’ve been in the Sovryn chat on Telegram almost from day 1. I can say that the community is a very good one. The project has developed a good following which is fast growing, very grass roots and very fundamental. This makes the community strong. The investors are long term hodlers who believe in the vision of the project. They work together and have a good chemistry going on. People help each other and have good conversation. The team regularly talk and converse in the chat. There are also forums where more technical aspects are proposed and discussed. There is also regular community calls that are posted on Youtube. This project is the real deal here. Transparent, communicative, collaborative. To work together and achieve the goals and vision of the project and the vision of Satoshi. I have been in the crypto markets for a long while now and I can say that this is among the best communities I have had the privilege to be a part of.  And from an investment stand point, I know for certain this is an important aspect that bigger money investors look for.

Speaking of which. Sovryn has some big time investors. The likes of Anthony Pompliano.

Others that invested include:

Cadenza (a BitMEX affiliated venture fund)

AscendEX (BitMax)

Gate.io

Blockware Solutions

and of course

Block Advisor

As well as the many who invested in the Genesis and the Origin private sales.

Technicals

SOV came out of the gate very strong. This is what I like to see in the charts on launch. There are many people I advised to jump in after launch on the first and second dips and they are very happy today. The charts are looking strong still as it formed an ascending triangle and broke out. It could possibly retest the break which would be a good buy opportunity for those watching and looking for an entry. All in all, as stated earlier it is very early over all for this project so buying anywhere here and holding is a good move. You will thank yourself that you did later on in the year.

Conclusion

I see big things happening for SOV going forward. I wont be surprised if we start to see more and more influencers talking about the project. But with that said, everything above explained and the developments that are coming in the future. It is easy to see how and why this project is a must have for the long term. There is simply too much going for it and the fact that it is still early means you can still get in close to the ground floor.

Check out the project:

https://www.sovryn.app/

https://t.me/SovrynBitcoin

https://www.youtube.com/channel/UCzMk0lOf3pFOg_9PgnafdNQ/videos

https://forum.sovryn.app/

https://wiki.sovryn.app

https://github.com/DistributedCollective

Stay Sovryn

Categorised in: Fundamental Analysis, Low Cap Coins & ICO's, Politics

This post was written by BlockAdvisor