Syscoin Rollux Weekly Update 2024.06.28

Weekly Video: Altcoin Buzz Jag Interview

This week we would like to share a video worth bringing back up, featuring an interview with Syscoin’s Lead Core Developer & SYS Labs CEO, Jagdeep Sidhu by the YouTube channel, Altcoin Buzz. In this interview, Jag is amped to explain the unique value Syscoin & Rollux have to offer the blockchain space as we continue to add utility to Bitcoin and allow for the wider expansion of its ecosystem. He covers multiple topics over the course of fourteen minutes, ranging from data availability, scaling, exciting developments, and touches on other well-known projects in the space.

Pachira Unleashes Liquidity Trees: A Game-Changer for DeFi Ecosystems

Pachira is set to revolutionize the DeFi landscape with its innovative Liquidity Tree Protocol, designed to transform stagnant capital into a vibrant, profit-generating ecosystem. This groundbreaking approach leverages Continuous Rebasing Index Tokens (CRITs) to dynamically enhance market depth and trading activity, offering liquidity providers dual revenue streams. With its fully on-chain architecture, Pachira ensures maximum security and transparency, supported by automated treasury management and a decentralized ETF Factory, which democratizes complex DeFi strategies.

Pachira's Liquidity Trees not only tackle the persistent issue of underutilized liquidity but also unlock higher yields, marking a significant evolution from traditional AMM models. The introduction of Liquidity Trees by Pachira promises to scale DeFi efficiency and inclusivity, enhancing the ecosystem’s resilience and profitability. As we edge closer to the launch, Pachira invites everyone from novice enthusiasts to seasoned investors to join in reshaping the future of decentralized finance. Stay tuned for more updates and prepare to see your assets work smarter, not harder, in this new era of dynamic liquidity.

Syscoin Champions Hybrid Consensus, Pioneering Security in DeFi

A recent poll from Syscoin reveals a strong preference for its Hybrid PoW & PoS model, capturing 64.3% of community votes, showcasing wide support over traditional Proof-of-Work and Proof-of-Stake mechanisms. Syscoin leverages merged mining with Bitcoin, harnessing about half of Bitcoin's hashrate, thus sharing the security strengths of the most robust blockchain network. This integration mitigates common PoW vulnerabilities such as 51% attacks, selfish mining, and Miner Extractable Value (MEV) threats.

Syscoin’s sentry node network further fortifies its defenses, providing additional security layers and achieving finality crucial for reliable data availability in rollups like Rollux. This finality is essential for scaling applications on modular blockchains, supporting expansive growth into DeFi and Web3 with minimal trade-offs. The introduction of BitcoinDA and zkDA technologies marks a significant advancement, extending Bitcoin-level security to rollups across various chains, enhancing their functionality and safety. For those keen to dive deeper into how Syscoin is innovating within the blockchain space, a detailed exploration is available, detailing the benefits and mechanisms of zkDA and its impact across the blockchain ecosystem.

Surging Ahead: Rollux and Syscoin Shine in Ankr RPC Usage Growth

Ankr's recent data highlights a remarkable surge in RPC usage for both Rollux and Syscoin, marking them as standout networks in the blockchain space. Rollux witnessed a stellar growth of 516%, ranking it third among networks experiencing rapid expansion, while Syscoin also showcased significant growth with a 129% increase. This dual surge underscores the synergistic advancements and growing adoption of both platforms within the decentralized ecosystem.

These metrics reflect the robust capabilities and increasing trust that developers and users place in Rollux and Syscoin, pointing to their enhanced infrastructure and service offerings. For enthusiasts and stakeholders keen on understanding the impact and opportunities this growth presents, Ankr’s comprehensive blog post delves into the detailed implications of these trends. Engaging with this analysis will provide valuable insights into how Rollux and Syscoin are driving forward the innovation and scalability in blockchain technology.

Infinity Hash Integrates Syscoin for Mining Rewards

Infinity Hash has announced that $SYS is now an available reward pool option, directly responding to the community’s demand. Users invested in Bitcoin mining through Infinity Hash can now receive 100% of their mining rewards in Syscoin. This new feature allows miners to effortlessly convert their daily Bitcoin mining rewards into $SYS, offering flexibility to either withdraw or swap these rewards at any point.

Infinity Hash supports this innovative payout option through its growing fleet of community-owned mining hardware, which participates in merged mining with Syscoin via the ViaBTC pool. This initiative not only bolsters the $SYS army but also enhances the utility and reach of Syscoin within the mining community. For users eager to dive into this lucrative opportunity, setting up is straightforward—simply create an account, purchase shares, and select Syscoin as your desired reward output. This integration is a significant stride towards increasing the accessibility and adoption of Syscoin across decentralized networks.

Advancing Bitcoin: The Syscoin & Rollux Vision

Syscoin and Rollux have solved blockchain's longstanding trilemma—security, scalability, and decentralization—by ingeniously separating Syscoin's architecture into a Bitcoin-compatible UTXO chain and an Ethereum-compatible NEVM chain. This modular approach not only leverages Bitcoin's robust security via merged mining but also fosters scalability through advanced technologies like finality and BitcoinDA, integral for Syscoin's rollups such as Rollux. Rollux, a pioneer as the Bitcoin Superchain, enhances this ecosystem by supporting Ethereum-style smart contracts and ensuring data availability with BitcoinDA. Together, Syscoin and Rollux are crafting a formidable platform that promises to expand Bitcoin's utility across DeFi and Web3, making them ideal for developers and users seeking advanced blockchain solutions. Dive deeper into their visionary integration by reading the full article here.

SuperDapp's Spectacular $SUPR and Bitcoin Giveaway

SuperDapp is turning up the excitement with a massive giveaway that's too good to miss! They're not only distributing a whopping 10 million $SUPR in an airdrop but are also rewarding $10,000 in Bitcoin to 10 early birds who sign up. To throw your hat in the ring, simply register at SuperDapp.ai, like and retweet their giveaway tweet, and tag a friend. Remember, you must be following @SuperDappAI to qualify. Winners will receive their Bitcoin bounty shortly after the $SUPR Token Generation Event. Don't miss out on this golden opportunity—head over to SuperDapp.ai now to get started and potentially snag some crypto riches!

SuperDapp: Where Community and Cutting-Edge Tech Collide

SuperDapp invites you to fuel your passion and ignite your community in a dynamic environment where technology meets tenacity. This platform is not just about connecting; it's about creating bold moments with like-minded enthusiasts who thrive on excitement and innovation. At SuperDapp, you can share your adventures, push boundaries, and explore the limitless possibilities of Web3. With tools designed for ultimate expression and rooted in decentralization and privacy, your future community awaits. Join now at SuperDapp.ai and start writing new chapters in the thrilling book of your digital life!

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

Attention all Pali Wallet 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 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.

 Uno Re Announces Essential Infrastructure Upgrade

Uno Re is embarking on a pivotal infrastructure migration to significantly boost its platform's performance and security. During this upgrade, certain functionalities, specifically within the Governance Forum and dApp features like "Claim" and "Stake," will be temporarily offline. Users may experience difficulties posting on the Governance Forum throughout this transition period. The migration kicks off today and is slated for swift completion, with the team committed to providing ongoing updates. This effort is not only aimed at enhancing system efficiency but also at reducing operational costs for users. Uno Re appreciates your patience and support during this upgrade phase. Stay connected for further announcements and enjoy a smoother, more secure experience post-migration!

Enhancing DeFi Security with Uno Re’s Innovative Coverage Solutions

In light of the recent $55M hack at BTC Turk Global, Uno Re is emphasizing the crucial need for robust security in both centralized and decentralized finance. DEXs and DeFi protocols are not immune, facing risks like smart-contract flaws and flash loan attacks. Uno Re addresses these challenges head-on with its innovative B2B and B2C on-chain coverage solutions, available through the Cover Portal. This service allows users to safeguard their digital assets on popular DEXs such as Uniswap, PancakeSwap, and QuickswapDEX, enhancing security with ease and efficiency.

The necessity for stringent security measures is further illustrated by incidents like the $6.5M MIM_Spell exploit and the $10M Velocorexyz DEX attack, showcasing the limitations of pre-deployment audits alone. To combat such vulnerabilities, Uno Re's BlockAlerts provides continuous monitoring and real-time auditing, setting new standards in DeFi security. These tools ensure the resilience and integrity of decentralized ecosystems, offering peace of mind to users navigating the complex world of DeFi. Explore these protective measures further and fortify your DeFi journey at Block Alerts.

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!