SIP-0037: The Sovryn Mynt - is now live for voting in the Sovryn Bitocracy! Have your say in the future of Bitcoin backed stablecoins. Voting will be live for 24 hours from the time the voting begins.
There are four significant problems facing existing stablecoins;
These issues compromise the stability, trust and predictability of the coin.
Sovryn Mynt will be the protocol that mints the Sovryn Bitcoin-stablecoin. The contract will aggregate different methods of creating BTC-backed stability. Various Bitcoin-backed stablecoins will be deposited and held by the contract, which will mint the aggregated stablecoin. This stablecoin will also be redeemable for the Bitcoin stablecoins held in the Mynt pool and Bitcoin itself.
There are four significant advantages to an aggregator of this kind:
The first BTC-stability protocols that will feed into the Sovryn Mynt are Money on Chain (MoC) through the DOC token and Zero through the ZUSD token (scheduled to launch later this month).
Truly decentralized, Bitcoin-backed stablecoins are perhaps the single most necessary tool for the continued transition away from fiat.
There is perhaps nothing the Bitcoin ecosystem can offer that will do more for financial inclusion than providing stable money, backed by sound money.
The Sovryn Mynt protocol will initially be governed by the SOV Bitocracy, while the Sovryn Mynt treasury will be governed by the MYNT Bitocracy.
This bootstrap event for Sovryn Mynt will occur on the Sovryn Origins Launchpad