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The Sovryn Dollar is a truly transparent digital dollar. It’s the new decentralized, censorship-resistant stablecoin backed exclusively by bitcoin. The Sovryn Dollar is an aggregated stablecoin. It has a 1:1 peg with the value of USD and is composed of a diversified basket of other exclusively bitcoin-backed stablecoins. It’s a stablecoin that is actually stable.

DLLR is issued by the Mynt protocol. The Mynt protocol aggregates multiple bitcoin-backed stablecoins to issue an ultra-bitcoin-backed stablecoin. DLLR is more resilient and scalable than any one of the individual stablecoins held by the aggregator. It is a combination of the stability and liquidity of each individual stablecoin in the aggregator in a single, stronger asset. You can exchange DLLR for the equivalent USD market value of bitcoin at any time.

DLLR will become the default stablecoin of the Sovryn ecosystem due to its resilience and censorship resistance. It will be used anywhere in the Sovryn ecosystem where a stablecoin is needed and will be bridgeable to a choice of stablecoins on other networks. You will also be able to take out a 0% loan in DLLR or put your DLLR in various liquidity pools as a means of saving and earning a yield on your DLLR holdings.

The Sovryn Dollar will initially be backed by: 

1) ZUSD: Learn more about ZUSD.
2) DOC: Learn more about Money On Chain DOC.

The Sovryn Dollar may be backed by other stablecoins in the future to further aggregate bitcoin-backed stablecoin liquidity and as a way to grow DLLR to become the bitcoin stablecoin standard.

The Sovryn Dollar can always be swapped (burned or minted) for a specific stablecoin in the aggregator, which maintains its equivalence to them.

Each individual stablecoin has its own peg mechanism. ZUSD can be redeemed by any holder for the equivalent USD value in BTC. Borrowers can obtain ZUSD for as little as 110% of USD value in BTC. DOC is overcollateralized by BTC, and the system maintains a balance of supply to keep the value at 100% of USD.

1) ZUSD: Learn more about ZUSD.
2) DOC: Learn more about Money On Chain DOC.

To aggregate bitcoin-backed stablecoins from various sources, such as DeFi protocols on Rootstock and Liquid, Taro on the Lightning Network, as well as going multichain to other networks. The goal is for the Sovryn Dollar to become the standard stablecoin of the bitcoin economy.