Sovryn's Edan Yago on Building Bitcoin DeFi; Slower Growth But Strongest Foundation
Section 1 Intro Text: Edan 0:10 sec Edan Yago is a co-founder of Sovryn, a Bitcoin based lending protocol. He’s maybe the first Bitcoin builder we have had on our show. That’s because DeFi on the first blockchain network has been slow to pick up but Edan says that’s about to change. So what exactly…
By: Camila RussoDeFi Podcasts
Section 1 Intro Text: Edan 0:10 sec
Edan Yago is a co-founder of Sovryn, a Bitcoin based lending protocol. He’s maybe the first Bitcoin builder we have had on our show. That’s because DeFi on the first blockchain network has been slow to pick up but Edan says that’s about to change. So what exactly is Sovryn and how did Edan’s path lead him to becoming a contributor?
- Co-founder of sovryn
- Bitcoin based lending protocol
- The bitcoin blockchain is picking up
- Where does Soveryn come into it?
Section 2 Intro Text: Edan 12:30 sec
One of the core targets from the inception of Sovryn was to create a Bitcoin based NFT market. Edan explains why he decided to go to Bitcoin instead of building in the booming Ethereum NFT ecosystem. He talks about how Bitcoin Layer 2s, like Rootstock and Lightning Network are providing all the programmability and scalability needed for decentralized applications.
- Bitcoin based NFT market place?
- Why not build on Ethereum?
- Are Bitcoin Layer 2’s the long term solution?
Section 3 Intro Text:
Ethereum and other smart contracts platforms have evolved over time with use cases like tokens, DAO’s and NFTs flourishing. Meanwhile, Bitcoin has mainly looked from the sidelines, as its use case as a safe haven and store of value became stronger. Edan says there has been a gradual mentality shift, as Bitcoiners accept the first cryptocurrency should be able to support a wider array of use cases to become the backbone of a more decentralized financial system.
Eth and others have evolved, has Bitcoin?
Is Bitcoin more than just a store of value?
Where has this mentality shift come from, and what are the end goals?
Section 4 Intro: Edan 56:27min
Edan believes that Bitcoin is the primary blockchain for preserving value. But is there a single chain of truth within this space or is a multichain future possible?
- Is Bitcoin the primary building chain for preserving value?
- Is a single chain approach the way forward?