Syscoin

Syscoin

SYS #2422
CC 45% L1 Protocol Watch

Project Safety Score: 45%

Updated 2 hours, 31 minutes ago
SyscoinSYS
Market Cap$1775848
24hr Volume$76851
24hr Change0.6%
Price$0.0019498030143540223
Coverage: 5 buckets · 80% resolved
Concerns raised - see Red Flags below
Scoring rubric: L1 / Protocol Coin - scored on network security, adoption, dev health, economic design, governance
Track
Record
71 BBB
100% · medium
Developer
Health
-
0% · low
Network
Security
53 CCC
100% · medium
Social
Behavioral
41 CC
80% · low
Adoption
& Liquidity
15 F
100% · high

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SYS Syscoin Details
Type
Layer 1 (L1), Layer 2 (L2), Smart Contract Platfor
Launched
2014
HQ
Toronto, Canada
Team
Doxxed
Smart Contract PlatformMasternodesLayer 1 (L1)Decentralized Identifier (DID)Layer 2 (L2)Zero Knowledge (ZK)Rollux EcosystemDWF Labs Portfolio

Syscoin was founded in 2014 as a fork of Bitcoin. It uses Proof of Work consensus and combines Bitcoin-style security with Ethereum-compatible smart contract functionality. The network is described as modular, with three chains: UTXO and [N]EVM as Layer 1 chains, and Rollux as its Layer 2.

Syscoin describes Rollux as an EVM Layer 2 rollup based on the OP Stack, with PoDA for data availability and Bitcoin secured merged mining. Syscoin also states it has a Network Enhanced Virtual Machine (NEVM) for hosting Ethereum-compatible smart contracts and rollups. Additional Layer 2 elements mentioned are Z-DAG and the Syscoin Bridge. The Syscoin Bridge and Z-DAG are cited as aiming to support scalability and interoperability, while the governance model references DAOSYS as governance-free treasury management.

Risk Report

Cryptocurrency carries risk. Every project listed on this site, regardless of its score, operates in a volatile and largely unregulated market. Tokens can lose most or all of their value. A high score reflects lower structural risk based on the data we can measure. It does not mean a project is safe, that the price will hold, or that losses are unlikely. Always research independently and never commit money you cannot afford to lose.

Track record score 71 out of 100. Syscoin has a solid track record with 12.3 years of operation. While it has faced one regulatory action, its history includes only one incident, suggesting a degree of stability. However, two additional concerns highlighted by research add some caution for potential investors.


Economic design score 75 out of 100. The economic design of Syscoin shows strengths with 100% of its total supply circulating. However, the absence of a hard supply cap raises concerns about potential inflation, which investors should consider when evaluating the long-term viability of the asset.


Developer health score 18 out of 100. Developer engagement appears low for Syscoin, as indicated by 0 commits in the last four weeks. Despite having a reasonable number of stars and forks on GitHub, the lack of recent activity may raise red flags for ongoing development and support of the project.


Network security score 50 out of 100. Syscoin has a mixed security profile. Despite being operational for 12.3 years and having recorded only one historical incident, its low market cap indicates vulnerabilities. This low economic security score suggests that the network may be susceptible to significant fluctuations or threats.


Social behavioral score 43 out of 100. Syscoin's social media presence is somewhat limited. While the sentiment around the project is overwhelmingly positive, with no negative sentiment recorded, the low audience engagement metrics and several concerns, including scam allegations and past regulatory issues, deserve attention.


Adoption liquidity score 28 out of 100. Syscoin demonstrates weak liquidity, with a daily trading volume of only $596,927, indicating limited market activity. Although it is listed on 23 exchanges, the low market cap raises concerns about the overall adoption and stability of the asset in the broader market.


Investing in Syscoin carries inherent risks typical of the crypto space, especially given its recent history of regulatory issues, low economic security, and weak developer engagement. Potential investors should be cautious and conduct thorough research before entering the market.

  • Sebastian Schepis - Co-founder LinkedIn ↗
    Prior: Oracle Project Manager
    Consulted for companies like Lockheed-Martin, Bank of America, General Dynamics, Verizon Wireless.
  • Jagdeep Sidhu - Foundation President and Lead Developer LinkedIn ↗
    Prior: Syscoin Foundation
    Lead developer and president of the Syscoin Foundation.
  • Michiel Näring - Vice President of Syscoin Foundation LinkedIn ↗
    Prior: Syscoin Foundation
    Vice President of the Syscoin Foundation.
View whitepaper ↗
Quality: high
Max supply: 751,382,295.693219
  • 0.9
    Alleged unauthorized creation of 100 million SYS tokens by Syscoin executives.
    Dogecoin Foundation · source ↗
  • Dutch Authorities 2024-07-29
    Investigation into financial crimes
  • unauthorized_token_creation 2024-07-29
    Syscoin executives were accused of issuing 100 million new SYS tokens without proper authorization, leading to a significant drop in token value.
  • Strong foundational leadership
  • Established since 2014
  • Modular ecosystem with Layer 2 scalability
  • Low economic security
  • No hard cap on total token supply
  • Regulatory action has been taken against this project
  • Public scam allegations have been raised
  • Very low L1 trading volume
  • Allegations of unauthorized token issuance
  • Investigation by Dutch authorities into financial crimes

Price Chart

Syscoin Exchanges

Top 4 by trust score
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100%
Profile Status
Data completeness
No missing data
High confidence

Market Stats

All-Time High$1.30
All-Time Low$0.0002
Circulating911179977
Total Supply911201457
AlgorithmSHA-256

Community Sentiment

👍 100% 0% 👎

Recent News

Binance to Close SYS Withdrawals on July 27th

general 1 source 1 month, 2 weeks ago

Syscoin bridge remains paused as 5B token mint exploit threatens project’s future

hack 1 source 2 months, 4 weeks ago

Syscoin Derivatives: Funding Rates, Liquidations

general 1 source 3 months, 4 weeks ago

Syscoin Price Today in United States | SYS to USD Live Price & Chart

general 1 source 4 months ago

Binance Margin Delisting Shakes Crypto Markets: Strategic Removal of 18 Trading Pairs Signals Platform Evolution

general 1 source 7 months, 1 week ago

Democracy’s Next Upgrade: How Blockchain Is Finally Moving From Theory to Ballots

general 1 source 11 months ago

Binance Will Support the Syscoin (SYS) Network Upgrade & Hard Fork - 2025-04-07

general 1 source 1 year, 5 months ago

Judge Orders Syscoin Crypto Assets Returned and Rollux SYS Labs Accounting Produced

general 1 source 1 year, 11 months ago

0.00673 | SYS USDT | Syscoin to USDT – Binance Spot

general 1 source 1 year, 11 months ago

Wrapped Syscoin (WSYS) Price Today, News & Live Chart | Forbes Crypto Market Data

general 1 source 2 years, 2 months ago
Posts from the SysCoin
community on Reddit

Syscoin GitHub