2023-04-04 14:01:09 ET
SYS Labs, a Web3-focused company behind Sycoin (SYS) that’s looking to make it easy for enterprises to transition to Web3 by providing tailored solutions, has acquired crypto security firm FortKnoxster .
Syscoin traded just higher after the news, with SYS gaining by around $0.16 amid increased activity. According to data from CoinGecko, Syscoin’s daily trading volume was up more than 52% at around 6:01 pm UTC on Tuesday.
The “killer app” to revolutionise crypto and social interaction
The two companies have also announced the launch of SuperDapp, a social crypto dApp powered by artificial intelligence (AI). The launch is part of the two platform’s new joint venture, which will also include a new utility token, according to details in a press release Invezz obtained on Tuesday.
According to SYS Labs, SuperDapp will merge the cutting-edge technology of Syscoin and FortKnoxster, into a “killer app” that will significantly expand Syscoin ecosystem’s cryptosecurity. It will also revolutionise the cryptocurrency’s decentralised social marketplace.
In this case, SuperDapp users will have access to communication features currently available via most of the popular social apps. However, these features are tailored-made to offer the best for security-conscious users.
SYS Labs President, Jagdeep Sidhu, commented:
“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.”
As part of the acquisition, SYS Labs will swap the current holder of the FortKnoxster token FKX to the soon to be launched SuperDapp token. FKX holders can get more details on the swap from the FortKnoxster team during an AMA planned for Friday.
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