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MEXC Launches $20M Ecosystem Fund in Strategic Partnership to Support Bitcoin Rollups via Syscoin’s Rollux OPv1

SINGAPORE–(BUSINESS WIRE)–MEXC, one of the world’s top 10 digital asset exchanges, has entered into a strategic partnership to support the launch of a secure Bitcoin network deployment solution. Rollux OPv1 is the first in a series of planned deployment implementations secured by Bitcoin’s own PoW network. MEXC has allocated a $20 million fund to initiate projects to use Syscoin’s new layer two which was recently released on a public testnet.

Syscoin is a modular blockchain that incentivizes Bitcoin miners and thus inherits around 30% of Bitcoin’s hashrate today. Syscoin achieves this through a carbon-neutral process called merge mining. By combining this extension of Bitcoin’s own security with a utility-driven economy, finality-coupled EVM, and rollups, the project aims to serve Web3 globally to provide the opportunity for financial inclusion. world. That is, the actualization of a new concept that some call Web5.

“Our new collaboration with Syscoin is part of MEXC’s commitment to empowering strong, innovative projects that push the boundaries of blockchain to solve big problems. We are excited to see where Syscoin can go and how builders and users will benefit from this new design.Leo Zhaoinvestment manager of MEXC Ventures

As an alternative to Post-Merge Ethereum, Syscoin offers decentralized finality by means of “multi-quorum chainlocks”, as well as data availability on the first layer thanks to an innovation called PoDA (Proof of Data Availability). These bring effects similar to what Ethereum expects to achieve in the future. Syscoin’s NEVM chain is also fully compatible with Ethereum smart contracts. Overall, this makes Syscoin the carbon-neutral proof-of-work alternative to Ethereum’s Proof of Stake approach. As philosophical debates continue between the two schools of thought, PoW adherents can now turn to Syscoin.

It’s great that MEXC demonstrates such a positive view of what Syscoin does. Their contributions and diligence will go a long way in further developing the ecosystem with quality. This is also an ideal time for MEXC’s participation as Rollux OPv1 is getting closer to the mainnet and the launch pad solutions are also nearing completion. – Bradley Stephenson, Syscoin Foundation Board Member

Once Rollux OPv1 hits Syscoin mainnet, progress of OPv2 and ZK rollups will follow.

About Sycoin

Sycoin is a decentralized and open-source project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum into a single coordinated modular platform.

Syscoin ushers in the next step in the evolution of blockchain technology, delivering the proven security of Bitcoin and the Turing-complete programmability of Ethereum elevated to true scalability via Optimistic, ZK-Rollups, Cross-chain ZK-Rollups and more. other Layer 2 technologies.

About MEXC

Created in April 2018, MEXC is a top 10 globally and top 3 ranked cryptocurrency trading platform in Asia with over 7 million users. Currently, it supports spot trading of over 1,500 types of cryptocurrencies, futures trading of over 120 types of cryptocurrencies, and ETF trading of over 300 types of cryptocurrencies.

The projects listed cover all industries, such as public chain, cross chain, L2, DeFi, NFT, GameFi, and DAO, and MEXC is called by users as the first stop for launching high-quality projects. It is the trading platform with the most tradable crypto assets and the fastest launch speed for high-quality projects on the Internet.

MEXC Ventures is a comprehensive fund of the MEXC Group, committed to fostering innovations in the field of cryptocurrency through strategic investments, mergers and acquisitions, FOFs and project incubation. MEXC Ventures upholds the concept of “discovering opportunities and growing together” by fully sharing financial resources and providing strong project support. The team covers the United States, Singapore and other regions of the world, with over $100 million in assets under management and over 300 investments in the portfolio.

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