Syscoin Taps Asia’s Largest Web3 Incubator to Expand Ecosystem


Quick take:

  • Syscoin is accelerating its ecosystem expansion in Asia in partnership with WEconomy.
  • The web3 incubator already has seventy projects under its program, including DAOs.
  • WEconomy is targeting up to 100 projects by the time Syscoin deploys its Layer 2 blockchain protocol in Q1 2023.

Syscoin has announced a multi-year partnership with WEconomy. The decentralised blockchain infrastructure platform is scheduled to launch its Layer 2 protocol during the first quarter of 2023.

This partnership is part of Syscoin’s strategy of accelerating its ecosystem growth and adoption in Asia. WEconomy is the largest Web3 incubator in Asia, boasting seventy startup projects and decentralised autonomous organisations (DAOs). 

The company is targeting to have about 100 projects under its program and ready to deploy by the time Syscoin launches its Layer 2 protocol called Rollux. Most of the projects in WEconomy’s incubator program are from China, Taiwan and Vietnam.

Syscoin lays claim to Rollux being the first Ethereum Virtual Machine (EVM)-compatible Layer 2 rollup suite ready to go live on mainnet.

Commenting on the partnership, Jagdeep Sidhu, Lead Core Developer & President of the Syscoin Foundation said

“We are pleased to welcome WEconomy into the fold and look forward to making our mark on Asia, We are on the verge of releasing Rollux, the first EVM-compatible Layer 2 complete with rollups and our proprietary Proof-of-Data Availability solution, set to be the first of its kind to launch on mainnet next year. This represents a major breakthrough in scalability that will usher in mass adoption as we realize the true Web3 experience unhindered by scaling ceilings in fees.”

A lot of the projects in WEconomy’s incubator have already prepared for the launch of Syscoin’s Layer 2 protocol by utilising Syscoin’s Layer 1 Network-Enhanced Virtual Machine (NEVM) and its Rollux testnet for Layer 2.

“WEconomy is a large collection of teams, most of whom are Web2 and eager to migrate to Web3. We recognize the technology of Syscoin is best prepared to help us make this transition thanks to their Ethereum-compatible Layer 2, which will launch before anyone else’s. We thank the Syscoin team for all of their help and look forward to continuing to work together,” said Kering, Head of WEconomy.

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