Rest Assured, Assure DeFi Partners With Syscoin

Last week, Syscoin put the industry on notice with our trifecta of announcements regarding Rollux’s testnet launch, the formation of SYS Labs, and our first official ecosystem fund strategic partner, MEXC, who has set aside $20m for promising projects developing within the Syscoin ecosystem. We are paving the way to unprecedented mass-adoption by being the only complete platform to offer rollups running on top of Bitcoin in conjunction with our breakthrough Proof-of-Data Availability (PoDA) solution. Syscoin has emerged as the dark horse to give projects unwilling to sacrifice security, decentralization, and scalability exactly what they need. Security has always remained at the core of our architecture, critical to blockchain, both centralized and DeFi solutions. Assure DeFi understands this critical aspect, which is why we are proud to announce them as our latest partner to be launching on Rollux and SYSPAD.

DeFi is an incredible tool for introducing a new level of economic opportunities and furthering the financial sovereignty of freshly empowered individuals worldwide. Nevertheless, in an environment replete with scams and rugpulls from fly-by-night organizations, trustworthiness and verification are of paramount importance. Assure DeFi provides a way for investors to confidently make their choices, fear of scams be damned. Their unique offering provides accountability of DeFi projects’ leadership, akin to what is expected in the traditional investment space, all without sacrificing the important core pillars of anonymity and decentralization. They have pioneered a gold standard verification method, which will result in driving increased investment into the space, and improving the acceptance of these technologies by the wider world.

As crypto continues to mature with platforms like Syscoin leading the way, we must take measures to safeguard against the hundreds of billions that have been grifted from our industry. We have applied this to our own architecture by integrating opt-in regulatory compliance within our NFTs and our data availability without infringing on the anonymity and ownership of our users. Assure DeFi has taken another approach to apply these same protections by focusing on the verification of team members who comprise startup projects building on our blockchains. 

Assure DeFi grants legal accountability, ownership, and role responsibility for individual project leaders by completing the deepest identity verification process on those parties involved. It protects this data via secure encryption and long term storage of the data identity while also providing the need-to-know and easily accessible content for investors who can rest assured knowing their chosen project for backing has completed the Assure DeFi Verification process in the form of an NFT.

In the event an Assure Defi approved project violates the contract and trust of their investors through fraudulent activity, this information will then be used for the prosecution of the bad actors and kickstart fund recovery. This commences with an investigative intelligence report complete with expert blockchain forensics, and assisting affected communities in pursuing legal action, fast tracking complaints and cooperation with the relevant authorities across the globe. Additionally, cooperation with digital currency exchanges is expedited to quickly freeze fraudulently obtained funds, improving the odds of restoring investors.

Syscoin recognizes the value of blockchain and is taking the necessary steps to ensure our users can benefit from the optional improved project security and accountability Assure DeFi provides. With the foundation of SYS Labs and our Ecosystem Fund, we have just begun the onboarding of tomorrow’s leading projects. These projects will appeal to a wide audience including people who have never dealt with blockchains before, so it is integral their experience does not disappoint by making them victims to malicious actors. We are ecstatic in joining Assure DeFi in extending an open welcome as the world realizes all that rollups built on Bitcoin have to offer.

 

About Assure DeFi

Assure DeFi is the Gold Standard KYC Verification company in providing ecosystems the go-to source for project verification and investor confidence. Their mission is to provide a more secure and trusting Web3 ecosystem through accountability while retaining the core tenant of anonymity at the forefront. 

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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 Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and other Layer 2 technologies.

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Oct 4, 2022 by Syscoin Foundation