House of Chimera Weekly Altcoin Update Week 12

This week's HoC Weekly's Altcoin Update will highlight Syscoin, LTO Network and Reserve Protocol!

Syscoin

The Syscoin ecosystem has aggressively integrating new ecosystem partners. The first phase of the NEVM smart contract layer has been deployed at the end of December in 2021, and there is much more to come. zK-rollups are expected to be deployed by Q2 of 2022 and will drastically increase the scalability of the chain. The new partners of the Syscoin ecosystem are mainly DeFi projects. SoySwap is a new decentralized exchange and will be a direct competitor of the recently launched Pegasus Swap. The Total Value Locked of the Syscoin ecosystem is expected to increase through yield farming and single asset staking. The partnership with Flux Protocol will allow Syscoin to utilize the oracle network of Flux for price feeds. The main benefit of an oracle for price feeds is that the data is reliable and verified, without having a centralized actor. Last but not least is the Bounce Finance partnership. Syscoin NEVM supports the Bounce Finance auction and OTC protocols. Shortly, the DAO ecosystem-building tools and other NFT products will be integrated within the Syscoin ecosystem.

LTO Network

The Cobalt Alloy upgrade adds two transaction types that drastically improve DIDs on LTO. The registration transaction is a transaction whereby bulk of public keys can be indexed without making a single transaction for each public key. Therefore, drastically increasing the speed and decreasing the overhead costs of registering in bulk. The Data transaction is a transaction that stores metadata, which can be fetched by the API and is made available for smart accounts. These transactions are intended for configuring services of DIDs.

Reserve Protocol

Reserve is coming to Mexico after a successful launch in Venezuela, Argentina, Panama, Colombia and Peru! Mexico is one of the most financially excluded countries in the world, only 37% of the adults have bank accounts, and only 32% receive digital payments. Financial exclusion is a real issue in Mexico, only 9,52% of the population has a credit card, and the economy is still cash reliant. 95% of the daily purchases under 500 pesos are made in cash. To put this in perspective, tens of millions of people in China and Europe barely use cash and rely on mobile electronic payments. The financial gaps between urban and rural are immense; only 7% of adults in rural areas borrow from financial institutions, 90% of the credit is given in urban areas, while 20% of the population lives in rural areas. Unequal access to credit has a direct impact on financial opportunities and wealth. The Covid-19 crisis has worsened the situation for the poor as Mexico has experienced drastic supply and demand shocks that impact the economy, employment and households.