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22 June 2021

To Bring Bitcoin to DeFi, Sovryn Kicks Off $500K Hackathon - Decrypt

To Bring Bitcoin to DeFi, Sovryn Kicks Off $500K Hackathon - Decrypt


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Unlike Ethereum, the blockchain home to all the major DeFi protocols, Bitcoin doesn’t support smart contracts. .

Such projects attempt to bring DeFi directly to Bitcoin; BTC holders have long had to convert Bitcoin to ERC-20 tokens, such as Wrapped Bitcoin, to access the panoply of decentralized exchanges and lending contracts on Ethereum.

"So, while we're bringing Ethereans to Bitcoin DeFi, we're bringing Bitcoiners to Ethereum open-source development funding."

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