Syscoin Rollux Weekly Update 2024.06.21

Weekly Video: Rollux & Bitcoin’s Future on The Deep Dive

Although recently shared, we would like to highlight Liquify’s Zeb interviewing Bradley Stephenson of the Syscoin Foundation and SYS Labs CMO where he gives his perspective on Bitcoin’s future and how Syscoin & Rollux play a key role in expanding its ecosystem by scaling on Bitcoin. Bradley is a veteran of the crypto industry and is highly qualified to explain how Syscoin as a Bitcoin Layer Zero and the Bitcoin Superchain, Rollux, uniquely come together to build on Bitcoin in the most optimal and efficient manner possible by not only preserving its gold standard Proof-of-Work security, but also enhancing it further with finality, resistance to common PoW vulnerabilities, and innovations like BitcoinDA, which provides native, enshrined data availability. Listen to Bradley to learn how we can accomplish and exceed everything made possible by Ethereum, but with the important caveat of being on Bitcoin.

Critical Update for All Computer Users of the Pali Wallet Browser Extension

Attention Pali Wallet browser extension users: Google's Chrome Web Store is transitioning to the new MV3 standard for enhanced security and performance, which impacts all Chrome extensions including Pali Wallet. It is vital for all desktop and browser users to immediately secure their seed phrases or private keys. This action is crucial to maintain access to your funds as the current MV2 version of the extension will be phased out by early 2025. Please ensure your seed phrases or private keys are written down and stored securely. Do not share this sensitive information with anyone, as doing so could compromise your asset security. The Pali team is diligently working to update to MV3 and will keep you informed every step of the way. Remember, your cooperation is essential for a seamless transition and to safeguard your digital assets. Stay tuned for further updates and instructions from the Pali team, and please share this important information with your peers in the crypto community.

*Please note this transition to MV3 only applies to everyone who uses Pali it as a browser extension, so although you should always safeguard your seed phrases and private keys, this Chrome Web Store update does not impact users of the Pali Wallet mobile app on iOS and Android. If you use Pali on a computer and any Chromium-based browser, like Chrome, Brave, Edge, Opera, and many more, then this applies to you.

NeonNexus Unveils $esNOX Token to Amplify Liquidity on Rollux

The perpetual DEX built on Rollux, NeonNexus is enhancing liquidity with the innovative $esNOX token, facilitating leveraged trading of major cryptocurrencies like $ETH, $BTC, and $SYS with up to 50x leverage. By employing a unique stake/restake mechanism, NeonNexus not only retains liquidity within the protocol but also creates a lucrative earning hub for its users. This system allows users to earn double rewards through high APRs, significantly enhancing the value of the protocol.

$esNOX, an escrowed version of the utility token $NOX, is awarded to stakers and LPs, offering them multiple benefits including governance rights and a substantial APR. Users can either restake $esNOX to continue earning or opt for vesting their $esNOX into $NOX over a year, providing flexibility and control over their investment. This strategic approach ensures deep liquidity, boosts token value by locking in resources, and discourages transient liquidity farming, thereby stabilizing the trading environment and fostering long-term growth within the NeonNexus ecosystem on Rollux.

Pachira: Revolutionizing DeFi with Liquidity Trees

Pachira is gearing up to reshape the DeFi landscape with its fully on-chain, highly secure system that eradicates concerns about rug pulls and untrustworthy governance practices. This platform ensures that even those new to DeFi can trust its operations, enhancing safety and transparency. Pachira stands out by using ERC-5115 to tokenize its indexed products, allowing for efficient liquidity management and transparent valuation of underlying assets. The upcoming launch of version 1 on the mainnet will introduce Decentralized ETFs that allow for a variety of token configurations, demonstrating Pachira’s innovative approach. For those interested in the technical foundations of these features, a discussion by Pachira’s lead, Dr. Ian Moore, offers deep insights into the innovation of liquidity trees, filmed at ETH Denver. This presentation is essential for anyone looking to understand the sophisticated mechanisms that enable Pachira to say, with confidence, that money grows on liquidity trees. Watch Dr. Ian Moore’s technical discussion on liquidity trees here.

🌳💸 Stay up to date with this exciting new product from SYS Labs by following Pachira, Dr. Ian Moore, Business Developer Alex Guerra on X. ✅

NeonNexus: Creating a Fair Protocol for All

Discover NeonNexus, a transformative protocol in the cryptocurrency space designed to offer every user a fair and decentralized trading environment. Powered by the robust Rollux engine, NeonNexus ensures swift execution and minimal fees, embodying true decentralization with user-controlled funds and complete transparency. What makes NeonNexus stand out is its commitment to a fair launch—no private sales or VC interests to skew the market dynamics, ensuring equity and community trust from day one. Focused on enriching its users, NeonNexus introduces rewarding mechanics such as airdrops, trade-to-earn, and liquidity provision incentives that empower and compensate community members for their engagement. Designed by traders for traders, NeonNexus is dedicated to reshaping how value and opportunities are distributed in the DeFi landscape. Join NeonNexus in setting a new precedent for fairness and user empowerment in crypto trading.

Unlocking Bitcoin’s EVM Capabilities with Rollux

Dive into the future of Bitcoin with Rollux, as explored in Vedant’s enlightening X thread, where he discusses how Rollux leverages Bitcoin's robust security to enable Ethereum-like smart contracts and high throughput on the Bitcoin network. Developed by SYS Labs to make the most of Syscoin’s inherent efficiencies and intimate relationship with Bitcoin, Rollux offers the best Ethereum, but on Bitcoin, providing unparalleled security, scalability, and cost efficiency. This innovative platform not only brings smart contract functionality to Bitcoin but also introduces advanced solutions like BitcoinDA (formerly PoDA or Proof-of-Data Availability), ensuring data integrity and scalability. Whether you're looking to expand your dapp's capabilities or explore new DeFi avenues, Vedant's detailed discussion sheds light on how Rollux is transforming the blockchain landscape, making it essential reading for anyone interested in the cutting edge of blockchain technology.

Syscoin, the Layer Zero Pioneering Bitcoin's Evolution

Syscoin is setting the stage for Bitcoin to be more than just digital gold—it's transforming it into the foundation for a decentralized global digital economy. As Bitcoin’s Layer Zero, Syscoin enables a vast array of decentralized applications, from traditional asset transactions to cutting-edge Web3 innovations. By leveraging merged mining, Syscoin overcomes inherent Proof of Work challenges while maintaining Bitcoin's robust security. This makes Syscoin an ideal platform for everything from UTXO-based transactions to Ethereum Virtual Machine (EVM) compatible dApps. Syscoin’s vision extends Bitcoin's utility far beyond a store of value, aiming to make it the backbone of the decentralized world and a dominant force in DeFi and Web3 spaces. Dive into the future with Syscoin, where Bitcoin transitions from the world's foremost cryptocurrency to the bedrock of an open and enhanced decentralized world.

Experience the Future with Rollux: The Bitcoin Superchain

Dive into the exciting new chapter of Bitcoin as Rollux, the only Bitcoin Superchain, reshapes the landscape of DeFi and Web3 on the world's most secure network. This EVM rollup on Syscoin Layer 2 seamlessly merges the robust security of Bitcoin with Ethereum's dynamic utility, creating a platform that delivers near-instant transactions, contract deployments, and unmatched operational efficiencies—all while preserving the trustlessness and security inherent in Bitcoin. With its advanced architecture and innovative data solutions like BitcoinDA, Rollux offers a superior experience with the lowest fees, making it the go-to platform for developers and users aiming for the highest standards in security, speed, and scalability. Unlock the full potential of Bitcoin in the decentralized world and be a part of history with Rollux. Read the full article to explore how Rollux is pioneering a secure, scalable, and affordable future.

Uno Re & DeltaPrime Team Up to Advance Coverage

Uno Re is taking a step forward in enhancing DeFi security by partnering with DeltaPrime, a leading protocol on Avalanche and Arbitrum. This collaboration introduces a comprehensive $2.9 million coverage plan to fortify DeltaPrime against potential vulnerabilities, emphasizing Uno's commitment to robust, on-chain security solutions in the DeFi space. Interested community members and stakeholders are encouraged to read the detailed forum post about this strategic initiative and prepare for the upcoming voting at Uno's official forum. This partnership is representative of safeguarding DeFi infrastructure and building trust within the ecosystem.

 Double Whammy at UwU Lend: The Case for Enhanced DeFi Security

In a striking example of the risks in decentralized finance, UwU Lend has suffered a second significant hack, losing an additional $3.7 million immediately after restarting their operations following a previous $20 million hack. This series of events dramatically highlights the critical necessity for enhanced and ongoing security measures within the DeFi sector. Uno Re DAO points to this incident as a clear illustration of the need for proactive on-chain coverage and real-time monitoring. BlockAlerts by Uno Re offers advanced technology designed to detect and address vulnerabilities before they lead to breaches, aiming to establish a safer ecosystem for DeFi participants. To understand more about how Uno Re's BlockAlerts can protect against such vulnerabilities, visit BlockAlerts.

 Understanding DePIN: Web3's Approach to Physical Infrastructure

Pollum sheds light on Decentralized Physical Infrastructure Networks (DePIN), a Web3 niche that could transform the operation of physical and hardware networks. Contrary to the traditional model where telecom companies bear hefty infrastructure costs, DePIN encourages decentralized community involvement. Volunteers, driven by token incentives, handle the construction and maintenance, potentially leading to monetization as the project matures. This method not only aims to democratize infrastructure development but also promises increased resilience, flexibility, and faster deployment, coupled with decentralized governance—ushering in a more equitable and efficient way to manage network infrastructure.

Join the Syscoin SocialFi Pulse Campaign: Earn Airdrop Rewards and Learn More About the Syscoin Ecosystem

Syscoin announces the launch of its SocialFi Pulse campaign, powered by Galxe, inviting the community to engage and earn rewards as they usher in 2024, the year of the $SYS. This campaign offers a unique opportunity for participants to complete SocialFi tasks, earning loyalty points that can lead to rewards, bonuses, and perks in future initiatives. It's an ongoing effort to expand and energize the SYS Army, highlighting Syscoin's commitment to bringing Bitcoin rollups and the innovative zkDA technology to a broader audience. Participants can armor up and dive into this exciting campaign by following the Galxe link here, embarking on a journey of discovery and contribution within the Syscoin ecosystem.

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

🌐 Syscoin: Syscoin is Bitcoin’s Layer Zero and the backbone of Rollux. Their Discord community is a treasure trove of insights and opportunities. Learn more about how Syscoin's technology is paving the way to Bitcoin becoming the greatest DeFi and Web3 ecosystem in existence.

👾 Luxy: Luxy is taking official NFT Platform of the Syscoin Rollux ecosystem. Luxy takes NFTs to the next level, propelled forward by being built on Rollux. Join the Luxy Discord to stay ahead of exclusive NFT drops, farming opportunities, and more.

🎠 Pegasys: As the first native DEX of the Syscoin Rollux ecosystem, Pegasys plays a crucial role facilitating DeFi services including trading, farming, staking rewards, and liquidity incentives.

💹 NeonNexus: NeonNexus is the first official perpetual DEX of the Syscoin Rollux ecosystem. Built on Rollux, it’s a traders paradise, offering the ability to use high leverage, infinite positions, minimal fees, and the best features of decentralized finance.

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

☂️ UnoRe: Uno Re is a multi-chain insurance coverage provider bringing reassurances people have long enjoyed in traditional finance to the Web3 and DeFi world. Uno Re is decentralized and democratically led by the Uno Re DAO. As of February 2024, SYS Labs is the core team and primary contributor within the DAO.

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!