Apex to Deploy DEX on Syscoin

Syscoin’s dual-chain architecture offering both the best of Bitcoin’s gold standard security and Ethereum-like flexibility continues to attract projects who understand the fundamental values of each, especially in light of a major recent controversy caused by overlooking the importance of impeccable foundational security. As automation and decentralized finance continue to grow in importance, we will continually onboard more solid projects to our ecosystem who share this understanding. In line with this, we are proud to introduce our latest parner, Apex.

Apex is a Node-as-a-Service provider, who will be launching their DEX, ApexSwap, on our NEVM Layer 2 once rollups are integrated later this year. This partnership will be further facilitated by ApexSwap bridging wrapped Avalanche ($WAVAX) to Syscoin via their own ApexBridge. Likewise, wrapped Syscoin can cross the bridge to ApexSwap to participate on  the Avalanche network. Apex is focused on expanding their decentralization and by bridging across several chains, and their appearance on Syscoin will be a major boon for the accessibility of our combined communities.

ApexSwap and other DEXes increasingly turning to Syscoin to provide the Layer 2 solutions they need at scale will invite greater traffic onto the Syscoin Network as we continue to grow together.  In addition to the factors already mentioned, ApexSwap chose Syscoin because of our modular architecture, with specialized chains and layers designed to make the whole greater than the sum of its parts.

Jag Sidhu, Lead Core Developer of Syscoin, had the following to say about the partnership:

Partnering with Apex is such a welcome development. ApexSwap launching on Syscoin’s highly anticipated Layer 2 is certainly a big stride towards achieving a truly decentralized, scalable, and secure Defi ecosystem, which will immensely benefit all users of the partner networks.

Our previously announced partner, UnoRe, has also partnered with Apex in order to offer insurance for ApexSwap tokens, which will offer protection for attacks against the swap feature and encourage participation through peace of mind. 
 

Jas Singhu, CEO of UnoRe, had this to say about the partnership:

Crypto projects and blockchain technology itself cannot grow without bridges - cross-chain protocols are the future, and Uno Re insuring the collaboration between two visionary projects in the space by covering the Apex Bridge to Syscoin 's L2 fits in great with our ethos of advancing trust, safety, and thus the mass adoption of DeFi.


If three partners coming together wasn’t enough, we would also like to introduce Catoshi to the mix. Catoshi will be employing their experience with cross-chain and multi-chain bridges to construct ApexSwap’s bridges. Catoshi currently offers bridging services for Ethereum, Binance Smart Chain, Avalanche, Fantom, Cronos, and Matic networks, but they are constantly scaling to expand their reach, which Syscoin will soon be a part of.

Joshua, CEO of Catoshi, stated:

We are delighted to receive recognition from Syscoin, it's no easy task to build and maintain a project in this space for as long as they have,” said Joshua, CEO of Catoshi. “The team at Catoshi along with our partners at Apex and UNO look forward to building alongside Syscoin - we strive to imitate their longevity in the cryptosphere!

About Apex

Apex is a true Node as a Service (NaaS) protocol built on the Avalanche blockchain, and offers developer tools and infrastructure to set up and manage the nodes connected to the network. Apex deploys nodes for a wide range of blockchains and empowers these networks by increasing the decentralization and security of these blockchains including Arweave, Avalanche, Ethereum, and the Bitcoin Lightning Network. Apex Nodes have a 100% uptime, infinitely scalable and instantly available.

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About Uno Re

UnoRe is the world’s first decentralized insurance and reinsurance platform, built on the Polkadot blockchain, making it easy for users to benefit from trading and investing in the reinsurance market. Powered by an AI-based algorithm, the platform allows regular users to buy coverage for any assets held in their wallets, which traditionally requires high capital to invest.

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About Catoshi

Catoshi is a cross-chain bridge, positioned to be a major force in cross chain compatibility. It allows Catoshi tokens to operate on various EVM chains including Binance Smart Chain, Ethereum, Avalanche, Polygon and Fantom blockchains. With focus on DeFi, it provides the safest security and soon to allow its token holders ability to earn tokens from all bridged projects through a stacking pool.

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About Syscoin

Syscoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum in a single coordinated modular platform.

Syscoin is ushering in the next step in the evolution of blockchain technology, providing Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true scalability via ZK-Rollups and other Layer 2 technologies.

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May 20, 2022 by Syscoin Foundation