Flux Protocol is Live on Syscoin NEVM

Flux Protocol enhances Syscoin's Web 3.0 & DeFi ecosystem with oracle data layer capabilities

Smart contracts play an essential role in advancing blockchains towards Web3, the next evolutionary step of the Internet. However, in order for smart contracts to serve as segues between real-world information and blockchain ledgers, they require the assistance of oracles.

Oracles play the crucial role of communicating specific information found outside of blockchains themselves, such as financial data, random generators programmed on external factors, legal or regulatory specifications, and basically any other dataset that can offer value.

Considering one of our primary goals at Syscoin is to build the infrastructure for this ongoing transition to tomorrow’s tech, we are pleased to announce the first oracle solution provider to integrate and go live on Syscoin, and a new ongoing partner, Flux Protocol. Flux is a team of consummate professionals whose protocol has been developed to ensure that blockchains can leverage the most accurate data in the most efficient manner while remaining decentralized. Michiel of the Syscoin Foundation had the following to say about our burgeoning relationship:

The Flux team has set the bar for professionalism considering that they have always been responsive and a pleasure to work with. We at Syscoin are fully dedicated to embarking into decentralized finance, and no DeFi ecosystem is complete without its own oracle solution. We are proud to introduce Flux Protocol to Syscoin's NEVM, which will ensure our users always have the most accurate data at their disposal.
- Michiel, Syscoin Foundation Vice President

Flux Protocol has already been integrated into the Syscoin NEVM with a specific focus on price feeds. We will continue to work together to ensure that all Syscoin DeFi solutions have Flux support.

We are excited to become the first partner for secure data-feeds on Syscoin. Through this integration, Flux will enable a new range of innovative DeFi while providing developers with best in class data via Amberdata and Kaiko trusted by over $100B in total value to date.
-Peter Mitchell, Co-Founder of Flux Protocol.

About Flux

Flux allows any smart contract to connect with crowdsourced, API-based, and price-feed data. Flux brings this data on-chain using a sophisticated validation and dispute mechanism that relies on economics principles to keep validators honest.

Flux is backed by world-class investors such as Distributed Global, Coinbase Ventures, Reciprocal Ventures, Coinfund, Maven 11, Flow Ventures, among others.

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About Syscoin

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

Bitcoin's proven security and Ethereum's Turing-complete programmability elevated to true L2 scalability via ZK-Rollups taking place on a singular platform, Syscoin, is ushering in the next step in the evolution of blockchain technology.

Mar 8, 2022 by Syscoin Foundation, SMT