As part of the partnership with Apeswap, Syscoin can achieve both its goals to become ubiquitous, and rapidly expand into Defi in 2022.
The Syscoin Platform is dedicated to becoming as ubiquitous as possible and we are fully committed to mark 2022 as our rapid expansion into DeFi. As a combination of the best between Bitcoin and Ethereum, we know the importance of leveraging multiple platforms to grow our reach immensely. Our latest partnership with ApeSwap satisfies both these ends.
Since 2014, Syscoin has continuously evolved in order to anticipate the needs of the market. The space at large is no different in this respect in that it has been doing much the same. One of the largest trends continuing to take place has been the shift away from traditional, centralized exchanges (CEXes) towards decentralized exchanges (DEXes), which are able to operate with drastically reduced fees due to their lower overhead while offering customers borderless economic participation. Our arrival on the rapidly expanding frontier of decentralized finance will grant us greater exposure, while also allowing millions of users, old and new alike, to access our platform in the way they prefer.
ApeSwap is the first DEX to host Wrapped Syscoin, or WSYS, and our first interaction with BSC (Binance Smart Chain). We have provided the initial liquidity, which we will increase in time. Initially, traders will be able to swap between a WSYS/BUSD pair, but further base pairs are a work in progress. Although WSYS & BUSD is the official base pair, thanks to ApeSwap’s router, users will be able to swap any of their whitelisted tokens for WSYS!
Beyond trading pairs, we are serious about strengthening our partnership and offering more services, so keep your eyes peeled on what we have in store. In the meantime, our teams will be working together to explore the solutions ZK-Rollups can offer DEXes.
Our previously announced partner, Multichain, has been integral in making this a reality thanks to their facilitation of the bridge between SYS & BSC, which allows for the transfer between SYS & WSYS. This is how you are now able to trade Syscoin on ApeSwap.
In order to celebrate this exciting leap into DeFi, we will run three separate WSYS giveaways across our social media accounts on Facebook, Twitter, and Instagram. Be sure to follow us there if you have not already and enter into those giveaways as soon as they’re announced. They will end on February 16th!
Syscoin is a decentralized and open-source project founded in 2014 whose NEVM combines the best of Bitcoin and Ethereum in a single coordinated platform.
Bitcoin’s proven security and Ethereum’s Turing-complete programmability elevated to true L2 scalability via ZK-Rollups taking place on a singular platform, Syscoin, is ushering in the next step in the evolution of blockchain technology.
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