What’s the correct SYS contract address on Ethereum mainnet ?

Question

Syscoin Official

NuGrover 🌕🌀 Rotterdam 🌕🌀

What’s the correct SYS contract address on Ethereum mainnet ?

#cryptocurrency #english #syscoin

0

06.08.2023

7 ответов

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NuGrover 🌕🌀 Rotterdam 🌕🌀 Автор вопроса

function(0x){Marki} | Syscoin 🇪🇸🇮🇨
SYS is not deployed on the ETH network.

Ah ok why not ? Is that still on the roadmap ?

0

06.08.2023

function(0x){Marki} | Syscoin 🇪🇸🇮🇨

NuGrover 🌕🌀 Rotterdam 🌕🌀
Ah ok why not ? Is that still on the roadmap ?

Why do you want to have SYS on the Ethereum network? After all, SYS in any chain other than Syscoin or Rollux would be an wrapped token, and not native SYS. It's the same as bitcoin. Any 'BTC' that is not in the bitcoin network is not BTC, it is a wrapped token.

0

06.08.2023

NuGrover 🌕🌀 Rotterdam 🌕🌀 Автор вопроса

function(0x){Marki} | Syscoin 🇪🇸🇮🇨
Why do you want to have SYS on the Ethereum networ...

There’s more liquidity on Ethereum mainnet so having SYS also as an ERC20 there would allow SYS to tap into that liquidity. It would also make bridging more easy and enable DeFi possibilities for SYS on multiple chains. I think ideally SYS should exist as an ERC20 on all the big NEVM L2 chains. But downside is that it could also create confusion and lead to lost funds if people choose the wrong chain for deposits/ withdrawals on CEX’s.

0

06.08.2023

function(0x){Marki} | Syscoin 🇪🇸🇮🇨

NuGrover 🌕🌀 Rotterdam 🌕🌀
There’s more liquidity on Ethereum mainnet so havi...

The main problem with ERC20 "wrapped tokens" on other chains is that someone has to add the liquidity and be responsible for those contracts and funds. Look at what happened recently with Multichain with their multi-chain stablecoin contracts.

0

06.08.2023

NuGrover 🌕🌀 Rotterdam 🌕🌀 Автор вопроса

function(0x){Marki} | Syscoin 🇪🇸🇮🇨
The main problem with ERC20 "wrapped tokens" on ot...

True that you need some liquidity, but the bridge can be trustless. You just lock on one side and unlock on the other through a smart contract. But for liquidity I assume you have partnerships with marketmakes/ liquidity providers already ? Otherwise running a DEX on Rollux will already be very problematic. Traders and users go where liquidity is.

0

07.08.2023

XIII

function(0x){Marki} | Syscoin 🇪🇸🇮🇨
Why do you want to have SYS on the Ethereum networ...

This is a massive mistake BTW. It's clear that ETH and its Layer2s have absorbed the center of gravity for liquidity and DeFi activity. By having a wrapped SYS there you could potentially get new buyers and hodlers of SYS from DeFi ecosystem of ETH. Right now you're only limited to CEXes. Interconnectivity is a must.

0

08.08.2023

function(0x){Marki} | Syscoin 🇪🇸🇮🇨 · Accepted Answer

function(0x){Marki} | Syscoin 🇪🇸🇮🇨

SYS is not deployed on the ETH network.

0

06.08.2023

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What’s the correct SYS contract address on Ethereum mainnet ?

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