Syscoin Migrates to Decentralized Governance, Launches DAOSYS


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Vladislav Sopov

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During Binance Blockchain Week 2022, Syscoin Foundation President Jag Sidhu announces roadmap for revolutionary migration of Syscoin’s ecosystem

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The Syscoin Foundation is ready to unveil a completely novel DAO module for better governance and ultimate decentralization of Syscoin’s (SYS) development and investment efforts.

Novel DAO on Autonomous Service Engine: What is DAOSYS?

According to the official statement made by Syscoin Foundation President Jag Sidhu at Binance Blockchain Week 2022, a global event for crypto and Web3 professionals, the Syscoin (SYS) ecosystem is on the eve of a major governance shift.

The new protocol called DAOSYS will address obvious bottlenecks of modern DAOs. Largely, they act as an advisory vote to signers that control the treasury of this or that project.

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Syscoin Foundation is certain that true DAOs would work more like automated market making engines (AMMs) to ensure 100% decentralization of decision-making processes.

Syscoin’s patented technology, dubbed the Autonomous Service Engine, is set to supercharge DAOSYS in a noncustodial and capital-efficient manner.

The self-sovereign mechanism of voting will be accompanied by a number of anti-fragility instruments set to mitigate risks in investing and project governance.

Layer 2 developments on Syscoin (SYS) on the menu?

In the future, the deploying of self-sovereign DAOs will be as easy as running AMMs on decentralized crypto exchanges. As such, the launch of DAOSYS will pave the way for a major paradigm shift in blockchain governance.

Within Syscoin’s ecosystem, DAOSYS is set to advance its Layer 1 technical design and allow the building and progress of sustainable and scalable Layer 2 infrastructure.

As covered by U.Today previously, Syscoin (SYS) combines the elements of Bitcoin (BTC) and Ethereum (ETH) designs. Syscoin’s hybrid smart contracts are therefore protected by solid and stress tested security solutions.




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