The Bitcoin DeFi app Sovryn is partnering with hybrid layer-2 network developer Build on Bitcoin to expand to the Ethereum blockchain, as announced by both companies. Sovryn, which was launched in late 2020, is a decentralized platform that enables lending, borrowing, and margin trading through smart contracts within the Bitcoin ecosystem. Sovryn, a decentralized autonomous organization (DAO) operating on the Rootstock sidechain of Bitcoin, aims to improve Bitcoin’s DeFi functionality by introducing smart contracts. Their initial project on the Build on Bitcoin platform is Dex 2.0, a decentralized exchange (DEX). The group asserts that this project will offer reduced gas fees and quicker transactions compared to rivals such as Uniswap, along with exceptional capital efficiency. According to Decrypt, Alexei Zamyatin, co-founder of Build on Bitcoin, mentioned that Sovryn has been a long-standing leader in the early development of DeFi in the Bitcoin industry. When we began working on [Build on Bitcoin], the first person I reached out to was Egan. I wanted to get him enthusiastic about growing the Sovryn ecosystem and also understand the challenges they faced. A layer-2 protocol is a technology that aims to reduce congestion on a blockchain by establishing a secondary chain that operates alongside the primary network. The Lightning Network is a secondary protocol designed for enabling micropayments on the Bitcoin network. Additional layer-2 solutions on Ethereum include Arbitrum and Optimism. According to Zamyatin, users can utilize 350 Ethereum Virtual Machine wallets with Build on Bitcoin.