SYS Labs & Syscoin Ecosystem Update
Welcome to our latest Syscoin ecosystem update! Since our inception in 2014, Syscoin has continuously evolved, anticipating and adapting to the rapid advancement of blockchain technology. Over the past three years, we've aggressively pushed development to enhance and expand our ecosystem, building on and clearing the way for new groundbreaking advancements and fresh, widely-appealing projects.
Over the past decade, Syscoin has been at the forefront of innovation in the blockchain space, seamlessly integrating the best of Bitcoin's security with the advanced functionalities of Ethereum. Our journey began with a vision to create a robust, scalable, and versatile blockchain platform to support the dapps of the future. Today, it’s the most secured, and robust Bitcoin Layer Zero in the industry, demonstrated by our incredible hash rate and support from Bitcoin miners, and being the home of the sole Bitcoin Superchain—Rollux.
In this much-anticipated ecosystem update, we are excited to share recent developments and future plans. Here’s what’s been happening behind the scenes and what you can look forward to in the coming months.
SYS Labs Venture Builder Projects
Throughout the recent bear market, we focused on building and innovating as we always have. Our team dedicated this period to developing cutting-edge products that promise to not only enhance the SYS ecosystem but also benefit the broader industry.
Since many of you are already familiar with our products, we won't delve into extensive details. Instead, we will focus on the progress we've made, our vision, and our plans for the upcoming period.
SuperDapp is the ultimate AI-enhanced super app, bringing together AI-powered personal assistance, a dynamic developer ecosystem, and a robust, social-driven token economy.
With over 23,000 pre-launch signups, SuperDapp is one of our most highly anticipated projects.
Our development team has worked tirelessly to ensure the successful launch of this groundbreaking SuperDapp. Concurrently, our business development and marketing teams have secured strategic partnerships with launchpads, exchanges, Key Opinion Leaders (KOLs), and power users to pave the way for the upcoming token and product launch.
Since our last update, we've focused on quality-of-life improvements and are dedicating resources to developing AI-based extensibility for SuperDapp (APIs and SDKs) using bots, similar to Telegram bots. These upcoming bots posses native awareness of Web3 features, enabling them to securely communicate with other bots across Super Groups. By coupling bots with AI agents, we will enable new use cases that other applications, like Telegram, can't easily achieve without a complete overhaul of their application stack.
Additionally, we're exploring innovative features to integrate incentives natively in Super Groups with other tokens. This will directly tap into other communities, enabling a massive onboarding event for users like memecoiners or speculators who want to participate in economies around their specific coins, making SuperDapp especially ideal for crypto communities
Timeline (subject to market conditions)
July: Public token sale through our launchpad partners > CEX and DEX listings > Staking pools
August: Private beta > Public beta
Stay tuned to our social media channels to make sure you don't miss out on the presale and launch!
Electrifying times are ahead for Rollux! We're forging numerous partnerships and launching enticing new initiatives to position Rollux as the go-to chain for those who want to grow Bitcoin’s fledgling DeFi and Web3 ecosystem. Our development team is hard at work on zero-knowledge cryptography and BTC crypto-economic security, creating a modular stack to support technologies like Optimistic, EVM, BitVM, and AltVMs. This will cement Rollux as Bitcoin’s unrivaled Superchain—the pinnacle of Bitcoin-based rollups.
We've recently announced zkDA, and we're now building circuits for a secure light-client implementation. This technology will enable our Bitcoin-secured data availability protocol, appropriately named BitcoinDA, to be used by other chains with support for cross-chain messaging and bridging from Syscoin. These advancements will pave the way for secure BitVM-like solutions and trust-minimized, decentralized Bitcoin two-way pegs.
Our research team is also working on an innovative project that combines zkDA, zkEVM, and decentralized sequencing backed by Bitcoin’s Proof-of-Work, which we can’t wait to fully unveil and share with you soon.
Syscoin's merged mining with Bitcoin gives Rollux an intimate link to Bitcoin's security, which we’re building on to uncover novel ways of enhancing utility, security, and integrity. This includes superior BTC-bridging methods and yield-earning opportunities to massively expand Bitcoin’s DeFi offerings. We will soon be revealing our game plan to achieve a future where every blockchain worth its salt can benefit from the natural strengths of the Bitcoin network, just as we've illustrated below, in our upcoming release of the Rollux whitepaper.
We have so much on the horizon, and the Rollux team thanks the Syscoin community for their unwavering support!
The fully on-chain decentralized ETF factory, Pachira, is a new DeFi primitive that revolutionizes the space with its unique liquidity management and Liquidity Tree Protocol, benefiting both traders and liquidity providers. Pachira is designed to be a multichain product, initially launching on Rollux and ETH, with potential expansion to other chains based on grants or investments.
With the recent launch of its social channels, Pachira is now focusing on marketing. An exciting points campaign will accompany Phase 1 of our testnet, aiming to grow awareness, social media followers, and on-chain users before the token launch.
In parallel, we’ve secured a live case study launch on a soon-to-be-announced top-tier DEX to showcase our innovative Liquidity Tree Protocol (LTP) in action. This will enable us to conduct additional live case study launches, building our platform and capturing multiple communities from other blockchains and DeFi protocols. We are actively engaging with various blockchain networks for deployment and are working on securing grants and investments to strengthen our ecosystem.
Timeline
- June/July: Testnet launch and points campaign kickoff
- August: Live case study on top-tier DEX
Check out the previews of the Pachira dashboard below and stay tuned to our social media channels to ensure you don't miss out on the latest updates and opportunities!
Uno Re, recently acquired by SYS Labs, is advancing insurance and security for blockchain technologies. Here are some exciting developments shaping Uno Re's future:
Uno Staking Pools on Rollux
Starting in July, you can stake $SYS, $UNO, and other tokens on Rollux and earn rewards in $UNO.
Launch of Block Alerts: Block Alerts offers smart contract audits, real-time on-chain threat monitoring, and advanced penetration testing. Check the details here
Strategic Realignment and New Initiatives:
- Team Restructuring: New core contributors and full-time engineers from SYS Labs are accelerating development.
- Relaunch of Contracts, RWA Pool Development & Tokenomics Update**
- Expanding Reach in 2024: Launching Layer 2 insurance products, Web3 Risk Framework, UNO V3 White Paper, and UNO V3 Launch.
Expanding Reach and Capabilities in 2024
- Launching insurance products tailored for Layer 2 solutions, Web3 Risk Framework, UNO V3 White Paper, UNO V3 Launch
- L2 Security Product Full Launch: Following PoC success on Rollux, we will fully launch the L2 Security Product, emphasizing our role in blockchain insurance.
- Embracing Bitcoin: Expanding our offerings to include risk assessment and insurance products for BTC Layer 2 solutions.
Strategic Partnerships and Ecosystem Growth
Partnership with DeltaPrime: We are excited to announce a partnership with DeltaPrime, a top Avalanche and Arbitrum protocol, to enhance security with $2.9M coverage starting July 1, 2024. Block Alerts has seen several wins by being the smart contract auditor of choice for projects such as Ator, SafeYields, Arexa, SuperDapp, and many more to come
Throughout 2024, Uno Re’s strategy will be propelled by technological innovation, strategic partnerships, and an expanded product offering. We’re excited about these changes and look forward to the opportunities they present.
For more detailed updates, please visit the links below.
Camada: Secure and Compliant Token Economy
Camada is transforming decentralized financial activities by creating a secure, efficient, and fully regulatory-compliant digital ecosystem, bringing transparency and innovation to global financial markets. Camada facilitates a well-regulated primary sale process for issuers and a decentralized, yet compliant, environment for secondary trading of security tokens, serving as a verification and attestation layer. Adhering to regulations such as the Travel Rule, MiFID, MiCA, and AML laws, Camada ensures compliance across various jurisdictions, alleviating the concerns commonly associated with decentralized finance, and paving the way for a massive influx of institutional capital to enter the market.
Exciting news! Camada is preparing for final audits as we advance our fruitful discussions with regulators representing one of the world's largest markets. Stay tuned as we bring you a revolutionary, secure, and fully compliant digital ecosystem for financial activities on a global scale. A new era of token trading is being unveiled by Camada!
SYS Labs Takes Over Pegasys
SYS Labs is thrilled to announce a major development: we are taking ownership of Pegasys within the Pegasys DAO framework. This strategic move is set to enhance growth and innovation across the entire ecosystem. We have ambitious plans for Pegasys and $PSYS, ensuring it thrives as an Automated Market Maker (AMM) and beyond, playing a significant role in the upcoming DeFi ecosystem on Rollux. An in-depth plan will be presented soon for the DAO to vote on.
Strengthening the Foundation: With the transition of ownership to SYS Labs, the core Pegasys team remains intact, ensuring continuity and ongoing enhancements to the Pegasys protocol. This aligns with our long-term vision for expanding the Rollux ecosystem.
Expanding Horizons: SYS Labs' involvement will bolster Pegasys' position in the blockchain space, accelerating the adoption of Pegasys solutions and driving overall ecosystem growth.
Syscoin Foundation & Ecosystem Builders Updates
Frictionless UTXO to Rollux Bridge
We know you’ve been asking for it, and we’re here to deliver a quality of life update that makes moving $SYS from our UTXO native chain to the Bitcoin Superchain, Rollux, easier than ever before. Up until now, bridging digital assets on our native chain like Syscoin & Rollux’s utility token, $SYS, required first bridging to the NEVM Layer 1 before being able to then bridge to the Rollux Layer 2. With our newest bridge, this will no longer be necessary.
But that’s not all! Not only will you be able to connect your SYS wallet of choice, like Pali Wallet for instance, to convert your UTXO SYS into Rollux SYS, but we are also providing direct access to the biggest SYS-supporting exchanges. This compatibility means that if you have UTXO SYS on an exchange you wish to convert to Rollux, you will be able to trustlessly access your exchange wallet in order to take control of your SYS by depositing it into your own non-custodial wallet in one convenient place.
The frictionless Rollux bridge will soon be available once final security audits are complete.
We have been steadily making important improvements to the NeonNexus perpetual DEX. In recent days, we have restructured all contract architectures and optimized our keepers’ scripts to enhance the accuracy of liquidations. We've introduced a new feature that supports spot trading through an innovative peer-to-pool model, which not only reduces fees compared to the traditional Uniswap AMM model but also increases earnings for users who actively help balance the liquidity pools.
We are currently developing a new prediction feature aimed at forecasting SYS prices on a 5-minute basis, which will add to the excitement of NeonNexus and open up more earning opportunities for our users. This feature is set to be released on mainnet in the next two weeks.
Before the mainnet launch, we will release a comprehensive one-stop-shop on-chain DEX that allows users to leverage SYS through Rollux for increased potential earnings.
Forging Ahead: The Future of Syscoin & SYS Labs
Syscoin and SYS Labs are redefining blockchain innovation, building on Bitcoin's legacy with unmatched advancements. Each development in our ecosystem not only signifies growth but also transforms Bitcoin’s strengths to meet future digital demands. Our innovations enhance user experience, broaden blockchain applicability, and cement our leadership in sustainable, decentralized growth. Join us as we break barriers and build bridges in the blockchain space, fostering a future where technology empowers community and creativity thrives on robust, secure, and scalable solutions. Stay connected and excited—the best is yet to come.
Jul 3, 2024 by SYS Labs & Syscoin