A little while ago, it became apparent that the Syscoin team issued a bounty for its interoperability bridge. There is a genuine interest in this project, as Tierion tokens were “upgraded” through this method. Unlocking lower fees and better scalability is an offer too good to pass up on.
Tierion Explores the Syscoin Bridge
It is interesting to see how several ERC-20 tokens are still struggling not today. Not in terms of valuation, but having to deal with a network that isn’t scaling properly as of yet. Ethereum has many use cases, but the underpinning blockchain cannot accommodate all of the requests in a convenient manner.
Tierion is a project where simplicity and efficiency matters. Their vision of creating products to reduce the cost of trust will benefit from the Syscoin Ethereum bridge.
By moving some TNT tokens from Ethereum to Syscoin, lower fees will be achieved. More importantly, this bridge will introduce a new level of scalability. Not an unnecessary luxury for companies trying to tackle a global market.
The first @Syscoin #Ethereum Bridge Bounty has been awarded! A @Tierion community member got 10k SYS for moving some $TNT tokens from ETH to $SYS as a Tier 2 participant (link in thread). Low fees stood out most! The Tierion team should join at Tier 1 🙂https://t.co/T1bZ2uXIHP
— Syscoin (@syscoin) July 10, 2020
Participating in this bounty will yield a lot of useful data. If the issuance of TNT on Syscoin checks the right boxes, more of the supply can be moved in the future.
Tokens issued on Syscoin do not represent a migration from Ethereum’s blockchain either. This makes it easier to begin comparing fees and efficiency across the different ecosystems.
10,000 SYS Bounty Awarded
For those who have not checked out the Syscoin Ethereum bridge bounty yet, there are rewards attached to it. Tierion qualified for the 10,000 SYS price – valued at $339 – as a Tier 2 participant.
Whether the team will explore the Tier 1 option in the future, has yet to be confirmed. The team can still unlock 5,000 SYS in extra bounties as well.
Speaking of the Tier 1 bounty, it remains up for grabs. Exploring the benefits Syscoin has to offer without having to move away from Ethereum is always worthwhile.
Additionally, there is a 25,000 SYS bounty still up for grabs. It requires a bit more effort by token developers, but those who are serious about their project may want to pay close attention.