Apex partners with Syscoin

5 min readMay 20, 2022

Apex, a true Node-as-a-Service provider partners with Syscoin, a Proof-of-Work blockchain merge-mined with Bitcoin. Apex looks to launch its DEX, ApexSwap on Syscoin’s L2 in Q3/Q4 2022. This partnership will allow wrapped Syscoin (WSYS) to be bridged over to ApexSwap on Avalanche. The bridge will be powered by Catoshi’s cutting-edge bridging technology and fully insured by UnoRe, a decentralized insurance and reinsurance platform.

ApexSwap will facilitate the bridging of wrapped Avalanche (WAVAX) to the Syscoin’s L2 via ApexBridge. Similarly, wrapped Syscoin can be bridged over to ApexSwap via the Avalanche network. This partnership is in keeping with Apex’s vision to increase decentralization across web 3 infrastructures and networks, as well as scale inter and multi-platform transactions.

Apex, through ApexSwap will facilitate the transfer and utilization of different tokens cross-chain via Syscoin’s L2. The bulk of transactions on these tokens will increase the net DeFi activity on Syscoin and help maximize Syscoin’s potential to be a mainstream smart chain. The increase in DeFi activity across Syscoin will also spike rewards for Syscoin’s masternodes.

“It’s our joy to partner with Syscoin” said Tom Barr, CEO of Apex. “By helping make the value of Syscoin interoperable between Avalanche and Syscoin, it will compound the Network Effect and we believe this will be a big win for both Apex and Syscoin Holders”.

We prefer launching ApexSwap on Syscoin’s L2 because of its multi-layered (modular) setup comprising layers which support scaling, decentralization, and security respectively.

“Partnering with Apex is such a welcome development” said Jag Sidhu, President of the Syscoin Foundation. “ApexSwap launching on Syscoin’s highly anticipated L2, is certainly a big stride towards achieving a truly decentralized, scalable, and secure DeFi ecosystem that will immensely benefit all users of the partner networks”.

Syscoin is highly scalable — with a high transaction-per-throughput ratio (we’re looking at 200k+ transactions per second) and super friendly gas fees. It’s also highly decentralized with about 2500 active masternodes operating on its network. Above all, it flaunts top-notch security, being merge-mined with Bitcoin and having up to 20% of Bitcoin’s mining hashpower.

UnoRe will collaborate with Apex, Syscoin, and Catoshi to insure tokens on ApexSwap. The insurance will cover against any attacks on the Swap and encourage wider acceptance and participation, thus considerably lowering gas fees.

“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” said Jaskanwar Singh, Co-Founder and CEO of UnoRe.

Catoshi, an industry expert in creating cross and multi-chain bridges, will build ApexSwap’s bridge. Catoshi’s seamless bridging technology covers the ETH, BSC, AVAX, FTM, CRO, MATIC networks and is always scaling to improve functionalities for projects.

“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 alongisde Syscoin — we strive to imitate their longevity in the cryptosphere!”

What is 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.

What is Syscoin?

Syscoin is a Proof-of-Work blockchain, merged-mined with Bitcoin. Merge-mining allows proof-of-work blockchain miners to mine multiple blockchains simultaneously and earn profits from both chains, thus providing additional security and preventing malicious mining activities. Syscoin runs an Ethereum Virtual Machine layer called Network-Enhanced Virtual Machine (NEVM), created to support smart contract activities all at super-low fees.

What is 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.

What is UnoRe?

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.

Apex Partnerships: