Uno Re announced there partnership with Syscoin (SYS), a Layer-1 and Layer-2 blockchain solution built to combine industry-proven technology to support cutting-edge applications all in one network.
With the mission to be the world’s first decentralized insurance and reinsurance platform that allows the crypto community to invest and trade in ‘risk’ and receive sizable returns on their investments, Uno Re is to join forces with Syscoin to explore potential areas to provide the blockchain platform with different insurance coverages.
This partnership will benefit both parties as Syscoin aims to provide companies with the most secure commercial infrastructure for goods, assets and certificates, and digital data.
Uno Re and Syscoin will together explore the following:
Uno Re will provide Initial Digital Offerings (IDO) insurance coverage for projects kick-starting their journey on Syscoin’s launchpad.
Together, both projects will explore options that utilise Syscoin’s Blok tenancy and potentially provide insurance coverage for Syscoin’s partners.
Uno Re will provide Layer-2 solutions for tokens when Syscoin’s ZK-Rollups are launched. Syscoin implement its Phase 2, which brings ZK-Rollups onto the network increasing the speeds by up to 210,000 transactions per second (TPS).
Last but not least, we will also provide Security Token Offerings (STO) coverage to compliant roll ups of Syscoin that will be much cheaper than a regular token cover.
Aside from everything above, users who onboard their projects onto Syscoin would be able to use their Network Enhanced Smart Contracts (NEVM) and get insurance discounts of up to 30%.
“With new technology, comes new services — our partnership with Syscoin is nothing but extraordinary. Aiming to provide transparency and utmost security to users within the crypto ecosystem, we are super excited to work with Syscoin and mutually benefit each other”.
Jas Singh, CEO, and Co-founder of Uno Re
“Syscoin has discovered the holy grail of regulatory compliance for securities and DeFi, which our ZK-Rollups will inherit. Uno Re’s Reinsurance proposition will expand this application into an incredibly exciting frontier.”
Jag Sidhu, Lead Core Developer of Syscoin & CTO of Blockchain Foundry
About Uno Re
Uno Re is the world’s first decentralized insurance and reinsurance platform, allowing the community to invest and trade in ‘risk’ and receive sizable returns on their investments in one of the safest asset classes in the world. The platform will break barriers to entry for the retail investor by doing away with the historic pre-requisite of absurdly high capital generally needed to invest in the market while also introducing much-needed transparency into the industry as a whole. Uno Re will also allow the community to propose innovative insurance products to the space, thus propelling a new generation of Insurtech companies powered by the Uno Re ecosystem.
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, will usher in the next step in the evolution of blockchain technology.