quick take:

• Syscoin is accelerating the expansion of its ecosystem in Asia in partnership with WEconomy.
• The web3 incubator already has seventy projects in its program, including DAO.
• WEconomy is targeting up to 100 projects by the time Syscoin implements its Layer 2 blockchain protocol in Q1 2023.

Syscoin has announced a multi-year partnership with WEconomy. The decentralized blockchain infrastructure platform is scheduled to launch its Layer 2 protocol during the first quarter of 2023.

This partnership is part of Syscoin’s strategy to accelerate the growth and adoption of its ecosystem in Asia. WEconomy is the largest Web3 incubator in Asia, with seventy startup projects and decentralized autonomous organizations (DAOs).

The company aims to have around 100 projects under its program and ready to go by the time Syscoin launches its Layer 2 protocol called Rollux. Most of the projects in WEconomy’s incubator program are from China, Taiwan and Vietnam.

Syscoin claims that Rollux is the first Layer 2 cumulative suite supporting Ethereum Virtual Machine (EVM) ready to run on the mainnet.

Commenting on the partnership, Jagdeep Sidhu, Lead Core Developer and Chairman of the Syscoin Foundation, said:

“We are pleased to welcome WEconomy and look forward to making our mark in Asia. We’re about to launch Rollux, the first EVM-compliant Layer 2 complete with rollups and our proprietary proof-of-data availability solution. set to be the first of its kind to launch on mainnet next year. This represents a breakthrough in scalability that will usher in mass adoption as we realize the true Web3 experience unhindered by rate caps.”

Many of the projects in the WEconomy incubator have already prepared for the release of Syscoin’s Layer 2 protocol using Syscoin’s Layer 1 Network Enhanced Virtual Machine (NEVM) and its Layer 2 Rollux testnet.

“WEconomy is a great collection of teams, most of which are Web2 and eager to migrate to Web3. We recognize that Syscoin’s technology is best suited to help us make this transition thanks to its Ethereum-compatible Layer 2, which will be released before anyone else. We thank the Syscoin team for all their help and look forward to continuing to work together,” said Kering, Director of WEconomy.

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