Mandala Exchange Will Support the Syscoin (SYS) Hard Fork & Upgrade

• The Syscoin (SYS) network upgrade will take place at SYS mainnet block height of 1,317,500 or at approximately 2021-12-06 11:49 (UTC). Deposits and withdrawals of SYS will be suspended starting from approximately 2021-12-06 10:49 (UTC). It will take some time to resume service.

• The network upgrade will happen at Syscoin block height 1,317,500. The estimated time is for users’ reference only. Users can check the progress via https://syscoin.org/.
• The trading of SYS will not be affected during the upgrade.
• Mandala will handle all technical requirements involved for all users holding SYS in their Mandala Exchange accounts.
• The Network-Enhanced Virtual Machine (NEVM) upgrade brings Ethereum Virtual Machine (EVM) and scalable smart contracts to the Syscoin ecosystem with several notable changes below:
  • With the implementation of EIP-1559, Syscoin’s maximum token supply of 888 million SYS will be replaced with a dynamic supply schedule. Transaction fees will also be burned.
  • There will be a maximum of 1.25% annual inflation to reward masternode and NEVM miners. In reality, annual inflation will be lower than 1.25% due to fees being burned.
  • The community has approved a proposal to mint an additional 100 million SYS tokens. The circulating supply of SYS will increase from 623 million to 723 million. Existing SYS token holders will be diluted by ~13.83%. The newly minted tokens will be allocated to the Syscoin Foundation for development, TVL incentives to foster the growth of the ecosystem, marketing, and to enable strategic partnerships. (Details here)
• We will reopen deposits and withdrawals for SYS once we deem the upgraded network to be stable, and we will not notify users in a further announcement.
  
  NEVM Launch
  This fork will introduce NEVM, an EVM compatible operating layer as described in https://jsidhu.medium.com/a-design-for-an-efficientcoordinated-financial-computing-platform-ab27e8a825a0 
  
  The new Syscoin 4 Whitepaper will be available soon at https://syscoin.org/whitepaper
  

• Syscoin Core 4.3.0
• NEVM and Related Changes to Syscoin
• Syscoin Official Tweet

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Mandala Exchange will make best efforts to choose high-quality coins but will not be responsible for your trading losses.