At a Glance
- Sova is a new native Bitcoin Layer 2 solution designed to make BTC a productive, yield-bearing asset.
- It transforms Bitcoin from static collateral into an active participant in financial markets through transparent vaults and institutional-grade strategies.
- The Sova BTC L2 Genesis Quest is live on Galxe, offering participants a chance to mint an NFT, gain beta access to Sova Prime, and earn a Discord role.
- Early participants of the Genesis Quest may be positioned for a future $SOVA token airdrop.
- Sova Prime offers a flagship BTC yield vault, minting spBTC, an ERC-4626 vault token backed 1:1 by BTC, targeting up to 7-8% APY.
Transforming Bitcoin into a Productive Asset
Bitcoin, often described as the world’s hardest collateral, frequently remains underutilized. A significant portion of Bitcoin sits idle, failing to generate returns or actively participate in financial markets. Sova aims to change this dynamic.
⚡️ Built as the first native Bitcoin Layer 2 solution, Sova redefines BTC’s role. It converts Bitcoin from a static reserve into a productive asset capable of generating yield. This is achieved through transparent vault structures, sophisticated institutional-grade strategies, and decentralized on-chain governance.
The core concept is straightforward: deposit BTC and receive yield in return.
The Sova BTC L2 Genesis Quest and Early Access
🪂 The Sova BTC L2 Genesis Quest is currently active on Galxe. By completing a few simple steps, users can mint the Genesis NFT. This NFT grants access to the beta version of Sova Prime and secures a Genesis role within Sova’s Discord community.
Participants who join early will benefit from early access to Sova Prime. Furthermore, they position themselves favorably for a potential $SOVA airdrop, which is anticipated following the token’s launch later this year.
Understanding Sova Prime
About Sova
Sova Prime serves as the primary BTC yield vault within the Sova Network. Users can deposit approved BTC wrappers, such as wBTC or cbBTC, on networks like Ethereum or Base. Upon deposit, they receive spBTC, an ERC-4626 vault token. This token represents their proportional share of the pooled BTC reserves.
spBTC functions as a digital certificate of yield. It is backed 1:1 by actual BTC holdings, and its value increases as yield accrues. The yield is generated through market-neutral strategies. These strategies focus on capturing basis spreads, funding rates, and secured lending arrangements under legally binding Master Loan Agreements.
The Sova Prime vault aims to deliver an Annual Percentage Yield (APY) of up to 7–8% in BTC terms. Security is a priority, with audits conducted by Omniscia and Zokyo. Additional safeguards include multi-signature custody solutions and timelocks to enhance protection.
Institutional Access with Sova PrimeX
For corporate entities and treasuries that require enhanced regulatory compliance, Sova offers Sova PrimeX. This is a permissioned institutional track that incorporates Know Your Customer (KYC) and Know Your Transaction (KYT) compliance measures. It also utilizes qualified custodians to provide the necessary regulatory assurance for these clients.
Final Thoughts
Sova introduces an innovative approach to Bitcoin utilization by transforming it into a yield-generating asset via its Layer 2 solution. The platform offers accessible yield opportunities through Sova Prime and caters to institutional needs with Sova PrimeX, aiming to unlock significant value from dormant Bitcoin holdings.