SYS

1. Project introduction

Syscoin is a Proof-of-Work blockchain, merged-mined with Bitcoin. At its base it is a dual-layered blockchain: the core is the Syscoin blockchain itself, and running in tandem with it is an Ethereum Virtual Machine (EVM) layer called NEVM (Network-Enhanced Virtual Machine), which provides smart contract functionality.Syscoin is a unique and important alternative to Ethereum. Yes, every capability offered by Ethereum is supported by Syscoin’s fully EMV-compatible Network Enhanced Virtual Machine (NEVM).

However, Syscoin's design keeps intact the "gold standard" security of the Bitcoin consensus model and merged-mining, while also providing all the best performance characteristics expected in Ethereum's 2.0 future by supporting L2 ZK-Rollup technology.

Syscoin is permissionless and censorship-resistant by default. Syscoin also provides opt-in features for projects that need regulatory compliance at scale for their asset's transactions, without involving custodians. This is unique, and can be used to enable securities like stocks to safely participate in a compliant way in DeFi, DEX, or other emerging fintech, using a public decentralized blockchain. Non-compliant projects that don’t need a permissioned layer don’t have to implement one - this is simply an option Syscoin’s platform provides.

2. Team introduction

Foundation President: Jag Sidhu

Foundation Vice President & Project Manager: Michiel

3. Distribution

The tokenomics of SYS are based on EIP-1559 for an ideal utility-based economy that can operate indefinitely. In line with EIP-1559, same as ETH, SYS does not have a capped max supply. The supply of SYS is managed dynamically and programmatically through protocol emission and deflationary burning of fees paid for NEVM transactions.

Prior to the mainnet release of NEVM and the introduction of EIP-1559, SYS had a max supply cap of 888 million.