Syscoin
Eindhoven, Netherlands, June 6, 2022 (GLOBE NEWSWIRE) — Pegasys, the first and leading AMM on Syscoin's NEVM, released important upgrades at the end of April: their native token, PSYS, staking and yield farming.
Post-launch metrics were nothing short of impressive: Total Value Locked (TVL) rose to over $12 million, volume reached $2.1 million the day after launch, and the PSYS token was trading at 0.52 US dollars, compared to an initial value of US$0.14.
Pegasys farms provide users of the Syscoin ecosystem with an excellent opportunity to lock their assets in a liquidity pool and earn an attractive APY (Annual Percentage Yield) on their funds. The current APR (Annual Percentage Rate) is up to 300%, and early users will receive a higher APR as APR rates depend on the liquidity locked in a pool. Now is the time to buy and sell tokens, provide liquidity to earn fees, and also earn PSYS by locking and staking your liquidity.
Next Steps
Regardless of external market conditions, Pegasys development progresses because we have reliable partners and an internal team dedicated to the project. The team is already implementing UI/UX improvements, L2 support, building more partnerships, and expanding the liquidity protocol to money markets where users can participate as depositors or borrowers. Our users can look forward to the upcoming protocol governance, which will enable PSYS holders to always make governance decisions in accordance with all applicable laws and regulations.
About Pegasys
Pegasys is the first decentralized exchange based entirely on Syscoin NEVM. As a DAO, it offers its native token PSYS as a means of incentives and governance. Due to its design, Pegasys is able to offer far lower fees than its Ethereum-based competitors while keeping security a top priority. Pegasys adopts the interoperability of the Syscoin NEVM, making it an ideal DEX for trading ERC-20 tokens.
The story goes on
About Syscoin
Syscoin is an open-source, decentralized project founded in 2014 whose NEVM blockchain combines the best of Bitcoin and Ethereum into a single coordinated modular platform.
Syscoin marks the next step in the evolution of blockchain technology, offering the proven security of Bitcoin and the Turing-complete programmability of Ethereum, enhanced to true scalability via ZK Rollups and other Layer 2 technologies.
Media contact
CONTACT: Michiel pegasys (at) pollum.io michiel (at) syscoin.org
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