SYS Labs expands Syscoin ecosystem with FortKnoxster takeover
SYS Labs, a company focused on assisting enterprises with transitioning to Web3, has acquired FortKnoxster, a firm that specializes in cryptocurrency security.
Part of the acquisition package, the two firms announced a strategic partnership to foster shared technological innovations and efficient resource allocation for mutual growth. Under the new structure, their first collaborative endeavor is an artificial intelligence-powered social crypto dApp, called SuperDapp, followed by the launch of its associated utility token.
SYS Labs aims to construct scalable Web3 infrastructure and decentralized applications that cater to the requirements of a global audience. They achieve this by utilizing the first modular blockchain with EVM-compatibility, which is anchored in Bitcoin’s network and scaling through rollups.
The range of services provided by SYS Labs includes metaverse, NFT, and gamefi platforms, as well as regulatory-compliant rollups, all with cutting-edge user experiences secured by Bitcoin.
SYS Labs said the alliance with FortKnoxster aligns with its vision to provide a strong foundation of scalable Web3 infrastructure.
The merger of FortKnoxster’s technologies with the Syscoin Platform will expand the Syscoin ecosystem into the growing cryptosecurity and decentralized social marketplace. All of this is accomplished by building upon the scalable Layer 2 technologies of the Syscoin blockchain, which serves as the ideal foundation for most of their products.
SuperDapp, referred to internally as the “killer app,” will offer communication features designed specifically for security-conscious crypto users, but similar to those found in popular social apps. It can do almost everything other apps do, replacing the need for dozens of mainstream apps while embedding itself in every moment of the user’s daily life.
Through this acquisition, FortKnoxster token FKX will be exchanged for the new SuperDapp token, with more details and instructions to soon be announced for the token holders. The FortKnoxster team will be hosting an Ask-Me-Anything (AMA) session later this week to discuss these specifics in further depth.
Commenting on the deals, SYS Labs President Jagdeep Sidhu, said: “The potential unlocked by merging our technologies is already driving the expansion of Syscoin’s ecosystem. ‘Everything apps’ like what you might find in some Asian markets have piqued much interest lately; SuperDapp will answer the need for many of these capabilities upon its Q2 2023 release, expanding further as we pursue an exciting roadmap.”
FortKnoxster CEO & Co-Founder, Niels Klitsgaard also touched on the development: “The acquisition by SYS Labs is an exciting milestone for our company and validates the hard work our team has dedicated to building innovative technologies. This assimilation marks a new chapter for our potential, because SYS Labs has what it takes to ensure the future development, expansion, and awareness of our mission.”
