Syscoin Bridge establishes a bidirectional transaction channel between Syscoin and other blockchains, allowing users to transfer tokens across blockchains without third-party risks and market liquidity limitations using SPV proof.
Syscoin Platform provides a near-instant, low-cost, and scalable token trading layer with the security of SyscoinCore compatible with Bitcoin Core + merged mining. Tokens leaving the network are frozen, recorded, and minted into the Syscoin platform with the same quantity as the unique Syscoin platform token. When returning to Ethereum, the tokens are completely burned on Syscoin and released to the specified address on Ethereum.
For example, if you bridge BAT to the Syscoin platform, the process freezes and burns 100 BAT and mints 100 BAT as SPT (Syscoin Platform Token) on Syscoin. The bridging technology completely burns the 100 BAT on Syscoin and releases 100 BAT on Ethereum.
Since March 22, 2020, the bridge has been open, allowing ERC-20 standard tokens to move back and forth between Ethereum and Syscoin platforms.
We are offering a bounty to anyone who uses and promotes the bridge. We offer reward levels for different levels of participation and experience.
In Method 1: ERC-20 Projects, there is a bounty reward of 25000 SYS for official representatives of a valid ERC-20 project. The general criteria include understanding the scalability and speed of the Syscoin Platform, sending Ethereum transactions, setting up the mainnet Syscoin bridge for ERC-20, moving the ERC-20 token to the SPT version using the Bridge, and submitting transactions on the Syscoin platform using SPT with the same values.
We are very excited about the first step we have taken towards interoperability and we are offering this bounty to help Ethereum developers discover the opportunities offered by this new solution.
