Any technology which improves upon Bitcoin will simply be adopted by Bitcoiners.
DeFi has been on a steady rise for the duration of a full Bitcoin cycle. Alongside this growth, several unicorns and radical innovations have been born. For example, innovations in Ethereum-based Defi have led to AMM liquidity pools, CDP-backed stablecoins, permissionless lending and borrowing, all of which we are now capitalizing on and building on top of Bitcoin.
Ethereum, Polkadot, Solana, Polygon all have decentralized capital raising platforms by which new projects can jumpstart their funding and communities. Bitcoin DeFi is, at the very least, equally deserving of a launchpad for newly emerging projects focused on extending financial capabilities on top of Bitcoin.
Sovryn built the Origins platform for the purpose of launching its own ecosystem. Because of the success of Origins in generating Sovryn’s Bitocracy and the SOV governance token, it only makes sense that projects building for the Sovryn ecosystem, who share the Sovryn mission, have a place to launch their own tokens and governance.
Origins is THE launchpad platform for Bitcoin-based DeFi that allows projects to kickstart their communities, raise community funding, and do so in a way that they can raise Bitcoin natively. It’s the launchpad for projects that build upon Bitcoin and Sovryn’s ecosystems.
The Origins project will necessitate a token for coordination and staking in the project. The token allows for the governance of what things can be launched on Origins, and will be used as a vetting mechanism to prevent scams and bad actors. OG holders have the power to govern the Origins treasury and how funds are used for the Origins subprotocol. Staking OG can be a means of securing allocations via a pool/lottery system and queueing token sale participants to avoid gas wars.
Origins is being developed and launched by the Sovryn Bitocracy. The majority of revenue coming from the Origins subprotocol will go towards OG stakers, with a portion dedicated to SOV stakers. But in essence, Origins will be its own self-governing protocol that manages its own local platform, while anchored and supported by the Sovryn Bitocracy. As Sovryn scales beyond its core Bitcoin DeFi offerings, it is important for Sovryn to distribute the governance of new products to focused, self-starting communities.
Find the proposal on the Sovryn Forum.
The Sovryn community has proven its ability to instantiate its vision by providing it with the right funding required to develop its trading and lending platform. The same thing was done with Babelfish, and we will continue to learn and improve from these situations. Origins will be a dynamic system over time.
The long-term vision for Origins is to provide a mechanism for the Sovryn community to kick start new projects and grow the ecosystem, while securing the funding to build the future that we believe in. This future includes an entire suite of products, services, and protocols that give access to permissionless finance on Bitcoin and build the operating system for self-sovereignty.
All of these projects will be things that are tradable on the Sovryn exchange, become collateral types, allow for lending/borrowing/margin trading, providing an additional use case for SOV.
Having a censorship-resistant and permissionless communal way for people around the globe to come together and kickstart together will give us the ability to fund our future to be what we want. This can be attained with community-empowering measures that prevent opening the floodgates of scams.
This opens for the first time the ability for projects to raise in the only reliable treasury asset: Bitcoin. Origins aim to spawn new projects for the Bitcoin DeFi ecosystem, with treasuries that are mostly comprised of the best treasury asset in the world.
If you support the creation of a platform that generates and nurtures new Bitcoin-DeFi projects, then become an OG and take part in the launch of the Origins launchpad.