Eindhoven, The Netherlands, June 6, 2022 (GLOBE NEWSWIRE) — Pegasys, the first and leading AMM on Syscoins NEVM, released major upgrades in late April: its native token, PSYS, staking and yield farming.
Post-release metrics were nothing short of impressive: Total Value Locked (TVL) surged to over $12 million, volume hit $2.1 million the day after launch, and PSYS token traded at 0, Traded at $52 from an original price of $0.14.
Pegasys farms provide an excellent opportunity for Syscoin ecosystem users to lock their assets in a liquidity pool and earn an attractive APY (Annual Percentage Yield) on their funds. The current APR (APR) is up to 300%, and early adopters get a higher APR because APRs depend on pooled liquidity. Now is the time to buy and sell tokens, provide liquidity to earn fees and also earn PSYS by locking and deploying 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 that will enable PSYS owners 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 an incentive and means of control. Because of its design, Pegasys is able to offer far lower fees than its Ethereum-based competitors while keeping security at the forefront. Pegasys inherits the interoperability of the Syscoin NEVM, making it an ideal DEX for trading ERC-20 tokens.
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 ushers in the next step in the evolution of blockchain technology, offering the proven security of Bitcoin and the Turing-complete programmability of Ethereum, boosted to true scalability via ZK-Rollups and other Layer 2 technologies.
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