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The orthogonal dimer structure in the SrCu2(BO3)2 spin-1/2 magnet provides arealization of the Shastry-Sutherland model. Using a dimer-product variationalwave function, we map out the phase diagram of the Shastry-Sutherland modelincluding anisotropies. Based on the variational solution, we construct abond-wave approach to obtain the excitation spectra as a function of magneticfield. The characteristic features of the experimentally measured neutron andESR spectra are reproduced, like the anisotropy induced zero field splittingsand the persistent gap at higher fields.

The effect of Dzyaloshinskii-Moriya interactions on the phase diagram and magnetic excitations of SrCu2(BO3)2