SYS Labs Announces Rollux Phase 2, Expands DeFi Tools Backed by Bitcoin
In Brief
Rollux by SYS Labs aims to address the blockchain trilemma, emphasizing speed, scalability and affordability.
SYS Labs, the Web3 product suite powered by Syscoin, announced the next stage of its EVM Layer-2 solution, Rollux. Rollux leverages Bitcoin’s strength to enhance Ethereum network applications’ performance and has introduced an extensive suite of DeFi tools, including a ZK-lite client, cross-chain bridges, DEXs, liquidity protocols, yield aggregators and a launchpad, to establish a robust Web3 ecosystem.
Rollux by SYS Labs aims to address the blockchain trilemma, emphasizing speed, scalability and affordability. With its Phase 2 release, Rollux now strengthens interoperability across blockchains while offering Web3 tools and services that leverage the security of Bitcoin’s mining network and Syscoin’s Layer 1 finality and data availability.
Marking its evolution as the rollup rooted in the OP Stack with data availability solution (PoDA) secured by Bitcoin through merged mining, Rollux plans to significantly expand its DeFi offerings in the next phase, providing users and developers with easier access to its ecosystem.
“Rollux Phase 2 is not merely an update; it’s a quantum leap in the DeFi universe. With a suite of revolutionary features and a community-centric ethos, Rollux is the epitome of innovation and inclusivity,” said Jagdeep Sidhu, CEO of SYS Labs.
According to the company, SuperDapp powered by Rollux, exemplifies how a Web3 ecosystem rooted in Bitcoin can enhance privacy and security for online interactions. SuperDapp offers a range of services, including an AI assistant, instant messaging, video calls, a non-custodial crypto wallet and a developer marketplace. The platform combines the best features of chat, Web3 and social connections, fitting within the Rollux ecosystem.
Rollux is built upon Syscoin’s dual Layer-1 architecture, featuring both a native UTXO chain and an NEVM chain. The newly introduced UTXO bridge streamlines the migration to Rollux’s EVM L2, bridging the gap between UTXO and Layer-2 as per popular demand.
The Rollux ecosystem boasts Pegasys DeFi exchange and AMM, Luxy NFT Platform, Pali Wallet (web & mobile), DAOSYS, and Camada, a non-custodial, regulatory-compliant crypto trading platform.
Expanding its suite of Web3 apps and services, Rollux now includes Chainge cross-chain aggregated DEX, Agave DeFi lending protocol, Gamma liquidity protocol, Nexter prediction market, GoRollux launchpad, Beefy yield aggregator, and LayerSwap, the bridge enabling direct and instant transfers from centralized exchanges to blockchains.
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About The Author
Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
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Victor is a Managing Tech Editor/Writer at Metaverse Post and covers artificial intelligence, crypto, data science, metaverse and cybersecurity within the enterprise realm. He boasts half a decade of media and AI experience working at well-known media outlets such as VentureBeat, DatatechVibe and Analytics India Magazine. Being a Media Mentor at prestigious universities including the Oxford and USC and with a Master's degree in data science and analytics, Victor is deeply committed to staying abreast of emerging trends. He offers readers the latest and most insightful narratives from the Tech and Web3 landscape.
