Sovryn Launches Runes Trading, Pioneering Bitcoin Tokenization
In a groundbreaking move, Sovryn, the leading decentralized exchange (DEX) built on Bitcoin, has announced the launch of Runes trading on April 24. This historic launch solidifies Sovryn’s position as an industry trailblazer and marks a significant milestone in Bitcoin innovation and tokenization.
Runes tokens, a highly anticipated new fungible token standard set to launch during the upcoming Bitcoin halving, aim to revolutionize the way tokens are created and traded on the Bitcoin network. Unlike the popular BRC-20 tokens, Runes offer a more efficient and user-friendly approach, opening up a wide range of possibilities for applications such as memecoins, stablecoins, and ICOs. This move positions Bitcoin to compete with altchains like Solana and Ethereum in the token creation space.
With the launch of Runes trading, activity on the Bitcoin mainchain is expected to surge, leading to a significant increase in gas fees. To address this, Sovryn has developed a custom-built bridge that enables seamless movement of Runes tokens between the Bitcoin mainchain and the Sovryn DEX. This bridge ensures the fastest and most cost-effective way to trade these innovative assets.
By spearheading Rune trading and promoting accessibility, Sovryn is set to play a crucial role in driving the adoption and liquidity of these innovative tokens. As the Runes ecosystem grows following its launch, Sovryn is well-positioned to become a central hub for Rune trading activity.
With over $80 million in Total Value Locked (TVL) and $2 billion traded, Sovryn is committed to delivering cutting-edge solutions that empower the community and advance the industry. The forthcoming DEX 2.0 promises lower costs and faster transaction speeds compared to traditional platforms like Uniswap, with an intuitive UI set to be introduced in the testnet next week.
As Runes trading approaches, Sovryn is poised to become a go-to DEX for the trading of these new tokens. Join Sovryn on this historic journey and witness the transformative power of Runes trading.
About Sovryn:
Sovryn is the leading decentralized exchange built on Bitcoin, offering users a secure and innovative suite of financial tools, including trading, lending, borrowing, and margin trading – all with Bitcoin.
Source: Sovryn
