Bitcoin DeFi application Sovryn launches Bitcoin-backed stablecoin DLLR

ChainCatcher news, Bitcoin DeFi application Sovryn has launched a Bitcoin-backed stablecoin DLLR (Sovryn Dollar), which aggregates from other Bitcoin-backed stablecoins and is pegged to the US dollar. Sovryn Dollar maintains a large amount of over-collateralized BTC reserves to ensure that its holders can redeem it for BTC at any time.

Sovryn is a decentralized trading and lending platform based on Bitcoin developed on RSK. (Source link)