Alexandria The Great 🌋⛏🇿🇼
Alexandria The Great 🌋⛏🇿🇼 1 minutes reading from Bitcoin

Vincy Using 0% Interest – Borrowing Dollars Using the Bitcoin

“Sovryn 0 is a way to borrow dollars using your BTC […] So the important thing is like everything else that we are trying to do with Sovryn we’re working to build applications that are decentralized permissionless uncensorable for bTC - @EdanYago



…So we place a huge focus on self-custody and on building code operates on such a way that there is no central intermediary, there are no trusted parties. So the big advantage here is that you are not trusting like a Celsius or a BlockFi with your BTC…

You don’t give your Bitcoin away to anyone one else. Second thing is you are borrowing at the best interest possible you’re at 0% interest […]

…The final thing is, every time you use 0. Not only are the transaction fees that you are paying going to Bitcoin miners and helping to secure Bitcoin more by providing a bigger security budget for Bitcoin…

… but also the dollars that you are borrowing are Sovryn dollars. Dollars that were created by the Bitcoin community for Bitcoiners and that means there are competing with the fed, instead of being centralized dollars like USDC or Tether”

This post is based on this twitter thread.


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