Syscoin Rollux Weekly Update 2023.12.06

Weekly Video: Building Resilience in Blockchain: SYS Labs' Unwavering Commitment

In a captivating interview from our side event at Devconnect Istanbul, SYS Labs Business Developer Alex Guerra, in conversation with Daria Krasnova of BeInCrypto, delves into how SYS Labs is always diligently fortifying the Syscoin Rollux ecosystems, irrespective of market fluctuations. Highlighting the significance of the upcoming product, SuperDapp, Alex sheds light on the strategic advancements and enduring dedication of SYS Labs in enhancing blockchain technology. This insightful discussion not only underscores SYS Labs' resilience but also its pivotal role in shaping the future of decentralized ecosystems.

Don't forget to like, subscribe, and share this video to support our mission!

Syscoin Rollux's PoDA: Pioneering Blockchain Data Availability

Discover the transformative power of Syscoin's Proof of Data Availability (PoDA) through an enlightening thread. PoDA, a first-of-its-kind Data Availability solution now live on mainnet, is setting new standards in blockchain efficiency and reliability. Witness Rollux leveraging PoDA to offer unmatched data security and performance. PoDA's innovative design, already operational and ahead of Ethereum's protodanksharding, positions Syscoin Rollux at the forefront of blockchain technology. By joining Syscoin Rollux's ecosystem, projects can benefit from enhanced security, efficiency, and access to a network of innovators. Syscoin's PoDA is not just a technological advancement; it's a gateway to new possibilities in the blockchain realm. Dive into the details and be part of this revolutionary change.

Filling the Gap: PoDA's Context to Devconnect Istanbul's DA Panel

At Devconnect Istanbul's Ethereum's Orbit side event, a panel discussed the crucial topic of Data Availability (DA). Despite the absence of a representative from SYS Labs, the importance of their solution, PoDA (Proof of Data Availability), in this conversation cannot be overstated. To provide much-needed context and insights into PoDA's role in DA, SYS Labs crafted a detailed X thread. This thread serves as a vital supplement to the panel discussion, highlighting PoDA's pioneering approach as the first Layer 1 DA solution on a mainnet. It emphasizes PoDA's utility beyond financial apps, its robust architecture compared to Ethereum's proto-danksharding, and its innovative mechanics that ensure data integrity without the need for sharding. This initiative by SYS Labs ensures that their groundbreaking work in DA, particularly through PoDA, is well-represented and understood in the broader blockchain community. The thread is an essential read for anyone interested in the future of blockchain technology and data security.

Your Vote Matters: Elevate Syscoin Rollux at India Blockchain Week Awards

We're thrilled to announce that Syscoin Rollux has been nominated for "The Best Emerging L2 Blockchain Of The Year" at the India Blockchain Week Award Night. This is a pivotal moment to acknowledge the groundbreaking advancements we've made in the blockchain and Web3 realms. Your vote is a powerful tool to celebrate our journey and commitment to innovation. By voting for Syscoin Rollux, you're supporting a vision that drives the future of decentralized technology. Let's unite and make our mark in this prestigious recognition. Cast your vote for Syscoin Rollux now at Cillionaire.com/IBWAwardsPoll and help us shine as the leading light in Layer 2 blockchain innovation!

Milestone Achieved: Over 2 Million $SYS Migrated Since Rollux Phase 2

We're excited to share a significant milestone in the journey of Rollux – since the launch of Phase 2, over two million $SYS have been migrated to what stands as the fastest, most secure, and affordable Ethereum Virtual Machine (EVM) Layer 2 in the industry. This achievement underscores the trust and confidence the community places in Rollux, especially as it's the only platform secured by Bitcoin. Additionally, it features the industry's leading data availability solution, PoDA. This milestone is not just a number; it's a testament to our commitment to providing top-tier DeFi solutions. Witness the revolution in blockchain technology and explore more about Rollux's groundbreaking features at rollux.com. Join us in celebrating this achievement and be a part of the future of DeFi!

$SYS Now on Binance Cross Margin

Great news for the Syscoin community! Binance, one of the world's leading cryptocurrency exchanges, has added Syscoin ($SYS) to its Cross Margin trading platform, paired with $USDT. This addition marks a significant milestone for Syscoin, expanding its accessibility and providing traders with more flexibility and opportunities. Cross Margin trading allows for the use of all assets in the margin account as collateral, offering a more efficient way to manage risk. The pairing of $SYS with $USDT on Binance's trusted platform is a testament to the growing recognition and potential of Syscoin in the crypto market. 

What’s on Jagdeep Sidhu’s Mind?

This week, Jagdeep Sidhu, the CEO of SYS Labs and Lead Core Developer of Syscoin, shared several key updates that highlight Syscoin's innovative strides in the blockchain space.

1. Revolutionizing DeFi with Oracle-Free Solutions: Sidhu discussed SYS Labs’ development of new DeFi primitives, similar to BAMM by Frax Finance, but with additional enhancements. SYS Labs has been secretly working on this for over three years, now in the PoC/Demo stage. This breakthrough, oracle-free solution for decentralized vaulting and liquidity management in Web3, is backed by extensive scientific modeling and simulations.

2. Airdrop Strategy for DeFi Primitive Token and SuperDapp: Sidhu sought community input on the ideal airdrop strategy for the aforementioned DeFi primitive token and SuperDapp, aiming to benefit the Syscoin Rollux community and its users. Feel free to send your suggestion if you haven’t already!

3. Syscoin in the Data Availability Space: He highlighted Syscoin's role in the Data Availability (DA) space, with plans to serve PoDA as a generic DA service. This will be further expanded with upcoming projects and partnerships.

4. Partnership with LighthouseWeb3 and Filecoin: Syscoin has partnered with LighthouseWeb3 to store PoDA data availability blobs on Filecoin for archiving purposes. This step towards integrating zk proofs into the FVM and rollup state transition function will enhance decentralized archiving and data availability.

5. Future of LLM Inference and Application Design: Reflecting on the rapid evolution of technology, Sidhu encouraged developers to design apps with the future in mind, considering the exponential growth path in memory limits and processing speed.

These updates from Sidhu not only demonstrate SYS Labs and Syscoin’s commitment to innovation and collaboration but also its foresight in shaping the future of blockchain technology. Stay tuned for more detailed blogs and announcements on these exciting developments.

Syscoin's Evolution: A Game-Changer in Blockchain Scaling and DeFi

X user, Metaquant, recently explained his understanding of the groundbreaking developments Syscoin Rollux bring to blockchain scaling and decentralized finance (DeFi). Here's a summary of their key points:

Syscoin as a BTC DeFi Beta Play: Syscoin, initially known for its Bitcoin Layer 1 scaling solution, has made a significant leap with Rollux, a Layer 2 Bitcoin scaling solution. Rollux is the world's first roll-up secured by Bitcoin, with $SYS as the native gas token.

Impressive Features of Rollux: Rollux stands out for its low-cost operations while inheriting Bitcoin-derived Layer 1 security. It offers the speed and throughput of Ethereum-based rollups, making it a unique and powerful solution.

A Revolutionary Step in Bitcoin Scaling: Rollux is not just an improvement but an evolution in Bitcoin scaling, featuring the first Layer 1 Data Availability solution deployed on a mainnet, PoDA.

Growing Confidence in Syscoin: As of November's end, the Syscoin hashrate reached 290 Eh/s, about 55% of BTC's hashrate, showing a significant increase and indicating miners' growing confidence in the Syscoin network.

Oracle-Free DeFi Primitive: The Syscoin Rollux teams are working on an oracle-free DeFi primitive, a breakthrough in decentralized vaulting and liquidity management. Currently in the Proof of Concept stage, this development promises to bring a new level of innovation to DeFi.

Syscoin's Strong Position for Layer 2 and Rollups: These developments underscore Syscoin's robust position in providing efficient infrastructure for Layer 2, rollups, and fractal scaling.

Rollux's Undervalued Potential: Metaquant believes that Rollux's potential is not yet fully recognized in the market. While many are searching for the next big thing in the BTC ecosystem, Rollux has been a significant player all along.

In conclusion, Syscoin Rollux are at the forefront of blockchain innovation, offering scalable, secure, and efficient solutions that are set to transform the landscape of DeFi and blockchain technology. 

Understanding Syscoin's Unique Market Dynamics with Bradley Stephenson

Bradley Stepheson, a member of the Syscoin Foundation and CMO of SYS Labs, recently shared some insightful observations about Syscoin's ($SYS) market characteristics. Here's a summary of his key points:

1. Limited Trading Quantity of $SYS: Bradley estimates that of the 741 million $SYS reported as circulating, the actual number available for trading might be around 250 million or possibly even lower. This limited quantity is a crucial aspect to consider when looking at Syscoin's market dynamics.
    
2. Syscoin's Strong HODL Culture: A significant portion of $SYS (about 38%) is backing Masternodes (MNs), with the majority of these coins not having moved for three years or longer. Additionally, many $SYS holders have kept their coins untouched for years, contributing to the limited availability in the market. This includes coins in "lost" wallets, especially from the early days of Syscoin, such as during the Moolah incident in October 2014.
    
3. Historical Changes in Supply and Perception: With Syscoin's version 1 in August 2014, the max supply cap was 2 billion. This was reduced to 888 million in version 2 in 2016, along with a reduction in block rewards. These changes significantly impacted the perception and value of early holdings in SYS.
    
4. Impact on Market Movements: These factors, including the limited trading quantity and the strong holding culture among Syscoin users, contribute to why Syscoin's market movements can be explosive.

Bradley's insights offer a deeper understanding of Syscoin's market behavior, reflecting the unique aspects of its distribution and holder patterns. It's important to note that this information is for educational purposes and should not be construed as financial advice. 

Experience Cost-Efficiency with Syscoin's Rollux on Pegasys

Bradley also recently highlighted the remarkable cost-efficiency of performing swaps on Syscoin's Rollux Layer 2 solution, using Pegasys. He pointed out that it costs only 0.000095 $SYS ($0.00001) to execute a swap on Rollux through Pegasys.fi. This low transaction cost is a testament to the efficiency and scalability that Rollux brings to the Syscoin ecosystem, making it an attractive option for users seeking affordable and fast transactions in the blockchain space. This is a clear example of Syscoin Rollux's commitment to providing user-friendly and cost-effective solutions in the evolving world of decentralized finance. 

A Unified Vision for Blockchain's Future: Echoing Charles Hoskinson's Call

Dylan Stewart, Communications Specialist for Syscoin and SYS Labs, recently responded to a video by Cardano's Charles Hoskinson, resonating with the core truths about the blockchain industry's potential and its current crossroads. Here's a summary of his key points:

1. Shared Vision Despite Different Approaches: While Syscoin and Cardano may have different methods for advancing blockchain technology, Stewart acknowledges a shared spirit with Hoskinson's message. He emphasizes the importance of understanding and internalizing Hoskinson's words for the betterment of the entire crypto community.
    
2. Critical Crossroads for Civilization: Stewart reflects on the pivotal moment we face as old institutions crumble, paving the way for new ones. He poses a crucial choice: either continue down the path that led us here or embrace a new, decentralized approach that uplifts humanity.
    
3. Blockchain's True Purpose: Echoing Hoskinson, Stewart reiterates that the essence of blockchain and cryptocurrency is to establish a new social contract that preserves liberty and protects against technocratic tyranny. He stresses that those working in this industry are not malevolent but are striving to make the world a better place.
    
4. Call for Unity and Responsibility: Stewart highlights the urgency of unifying and collaborating in the blockchain space to effect meaningful change. He warns against division, urging the community to reflect on their actions and choices, whether on social media or in supporting specific projects.
    
5. A Rare Opportunity for Change: He reminds us that opportunities to significantly alter the course of history are rare, often arising in times of great upheaval. Stewart, aligning with Hoskinson, questions why we would let such a chance slip away when we have the potential to create a better world for everyone.

In conclusion, Dylan Stewart's response to Charles Hoskinson's video is a powerful call to action for the blockchain community. It's a reminder to prioritize the industry's collective mission over individual gains and to recognize the profound opportunity we have to reshape the future positively. 

Join Our Discord Communities Today!

The best way to stay updated, get involved, and maximize your benefits from this groundbreaking phase is to join our vibrant Discord communities.

🚀 Rollux Discord: This is the heart of all things Rollux. Get real-time updates, engage with the team, and be the first to know about new features, partnerships, and giveaways.

🌐 Syscoin Discord: Syscoin is the backbone of Rollux, and their Discord community is a treasure trove of insights and opportunities. Learn more about how Syscoin's technology powers Rollux and what it means for the future of DeFi.

👾 Luxy Discord: Luxy is taking NFTs to the next level, especially with the recent migration to Rollux. Join the Luxy Discord to stay ahead of exclusive NFT drops, farming opportunities, and more.

🎠 Pegasys Discord: As our DEX, Pegasys is a crucial part of the Rollux ecosystem. Join their Discord to learn about upcoming farming expansions, staking rewards, and liquidity incentives.

🤖 SuperDapp Discord: SuperDapp is SYS Labs’ killer dapp built to take full advantage of the intersection between Web3 and AI, centered around a social experience you won’t find anywhere else!

By joining these communities, you're not just observing—you're participating in the future of DeFi. So what are you waiting for? Click those links, hit 'Join,' and let's build the future together!