Syscoin’s Exchange Presence Goes Next-Level: KuCoin Listing & Pegasys Upgrade On Same Day
The Syscoin Foundation and our partners are working around the clock to ensure we have the most complete ecosystem possible. Exchange presence is an important part of that. In pursuit of our aim to provide the world with the most advanced infrastructure for Web3, metaverses, DeFi, and beyond, we must ensure we can easily onboard the entire world. Today’s announcement is a leap forward for Syscoin’s exchange presence in both the centralized and decentralized spheres. We are now listed on KuCoin, the world’s fifth largest exchange. Also, farming and staking services are about to go live today on Syscoin's native DEX, Pegasys, along with PSYS Token.
We have been expanding our exchange presence to ensure Syscoin users have multiple options for accessing their assets in the way they prefer. We have also listened to our international community's requests for more centralized options for obtaining SYS and onboarding, especially those in the United States. The KuCoin listing satisfies these aims and extends an open invitation to new Syscoin fans. This is one example of something we will be pushing on the ground as we attend Consensus 2022 in Austin this June.
“We are thrilled to offer our growing community more options to buy, sell and trade Syscoin on KuCoin’s world-class exchange. This is one of the next steps to bring our platform to a far broader audience of crypto investors and complimentary blockchain technology. Beyond the listing, Syscoin and KuCoin are anticipating deepening our partnership by building further upon Syscoin NEVM’s Layer 2 ZK-Rollup and Optimistic Rollup integrations, which will help foster adoption of the Syscoin technology stack by endorsing the tech and ecosystem incubation initiatives.”
- Jagdeep Sidhu, Syscoin Foundation President, Lead Core Developer
KuCoin is a Seychelles-based international cryptocurrency exchange committed from its inception to offering a secure, stable and easy-to-use trading service for its over eight million registered users from over 200 countries. Billed as the “People’s Exchange,” KuCoin is built for all classes of investors. With over 600 tradable crypto assets and accumulated trading volume exceeding 1 trillion, KuCoin delivers an accessible, high-liquidity and reliable user experience to welcome novice traders and experienced investors alike.
KuCoin has integrated Syscoin NEVM and is now accepting Syscoin (SYS) deposits as of 10:00 AM UTC today, April 27th. SYS trading opens for KuCoin users tomorrow, April 28th, 11:00 AM UTC. Withdrawals will be enabled on April 29th, 10:00 AM UTC. Syscoin owners who use KuCoin will be able to deposit and withdraw SYS using their MetaMask or other Web3 wallets that are connected to the Syscoin NEVM network.
On the flip side, Syscoin's very own AMM & DEX, Pegasys, is releasing farming and staking options for their governance token, PSYS, all running natively on the Syscoin NEVM. Once the implementation is completed today, Pegasys users will be able to passively grow their holdings and enhance their ownership stake by “steering the boat of Pegasys Protocol” into new territory as opportunities present themselves. This is a necessary step in the joint effort between the Syscoin and Pegasys teams’ mission to make our DEX a top DeFi destination.
“Pegasys brings a new perspective for the DeFi ecosystem, and the Syscoin ecosystem will definitely benefit from it. PSYS will allow the community to drive development of the product, take part in various liquidity mining programs available and also leverage solid utility attached to it. We couldn't be more enthusiastic about the release of farming, staking and the PSYS token on Pegasys. Most of all, we wouldn't be here without the support of the entire Syscoin community and all the teams!"
- Kaue Cano, CTO of Pollum, the company behind Pegasys
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles, offering over 600 digital assets and currently provides spot trading, Margin trading, P2P fiat trading, futures trading, staking, and lending to its 10 million users in 207 countries and regions around the world. In 2018, KuCoin secured $20 million in Round A funding from IDG Capital and Matrix Partners. According to CoinMarketCap, KuCoin is currently one of the top 5 crypto exchanges. Forbes also named KuCoin one of the Best Crypto Exchanges for 2021. In 2022, The Ascent named KuCoin the Best Crypto Exchanges and Apps for enthusiasts.
Pegasys is the first decentralized exchange built entirely atop Syscoin. As a DAO, it offers its native token, PSYS, as an incentivization device and means of governance. As a result of its design, Pegasys is able to offer far lower fees than its Ethereum-based competitors while also keeping security a top priority. Pegasys inherits the interoperability of the Syscoin NEVM, which makes it an ideal DEX for trading ERC-20s as well as Syscoin-based tokens.
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.
The project is represented by the nonprofit Syscoin Foundation which is registered in Eindhoven, Netherlands.