DeFi Technologies Announces Co-Investment with Pomp Investments into SOVRYN, a DeFi platform designed for the Bitcoin Network
TORONTO, April 14, 2021 (GLOBE NEWSWIRE) -- DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (NEO: DEFI, GR: RMJR, OTC: RDNAF) is pleased to announce
that it has co-invested alongside Pomp Investments (Anthony Pompliano’s investment fund) into SOVRYN, one of the first implementations of decentralized finance technologies specifically designed
for the Bitcoin network.
DeFi Technologies is focused on providing public market investors with access to the rapid growth in decentralized finance. This new model for financial services enables transactions between different parties to be processed through distributed ledger technology, or blockchain, rather than centralized through a traditional financial institution.
SOVRYN’s decentralized protocol extends the functionality of Bitcoin beyond permissionless, monetary sovereignty to include financial services such as trading, lending, liquidity insurance, and many other forms of trustless finance. In order for Bitcoin to reach its full potential, SOVRYN creates a decentralized financial operating system that, like Bitcoin, is borderless, censorship resistant, permissionless, and secured by the Bitcoin Network.
The SOVRYN protocol provides the infrastructure for a Bitcoin-native decentralized finance layer that is strongly integrated with Ethereum, Polkadot and other crypto-assets and chains. The protocol is already providing Bitcoin-class financial tools, with many more in development including:
- Trading, lending and leveraged environments for Bitcoin;
- EVM-Compatible Smart Contracts;
- Everyday Payments; and
“SOVRYN is an ambitious project with the goal of bringing decentralized finance to the world's premier decentralized monetary asset - Bitcoin. By partnering with Defi Technologies, we are taking an important step forward in achieving this goal. By leveraging their expertise and infrastructure we can bring financial sovereignty to an ever growing audience,” said Elan Nahari Core Contributor at SOVRYN.
“I’m excited to see DeFi Technologies investing in the SOVRYN round. As an advisor to both companies, it is apparent that both are leaders in their respective elements of the market. SOVRYN is building an unique decentralized approach on top of the bitcoin network and DeFi Technologies will be great partners for the SOVRYN team,” says Anthony Pompliano, founder of Pomp Investments and advisor to DeFi Technologies.