SYS Labs Acquires Majority Stake in Uno Re

SYS Labs, a venture studio dedicated to delivering value to the blockchain industry and a key proponent in expanding the Syscoin & Rollux ecosystems, proudly announces the strategic acquisition of Uno Re, a prominent player in decentralized finance (DeFi) insurance coverage. This acquisition marks a significant milestone in enhancing security and interoperability by diffusing the benefits of Syscoin and Uno Re ecosystems, and helping each grow to attract new clients outside their own ecosystems.

Jagdeep Sidhu, CEO of SYS Labs, commented, “Acquiring a majority stake in UNO RE DAO is a pivotal moment for SYS Labs. This move not only strengthens our commitment to secure, scalable, and interoperable blockchain solutions but also brings Uno Re’s expertise in DeFi insurance into our fold. This strategic step fortifies our Layer 2 offerings, ensuring unparalleled security for our users.”

Uno Re has carved its niche in DeFi insurance, with a suite of coverage options exceeding$15 million in on-chain policies. Integrating Uno Re’s expertise into SYS Labs’ ecosystem will provide top-tier security solutions, boosting the insurance capacity including significant funds from partner DeFi projects and substantial physical policies.This move is expected to significantly enhance the insurance capacity of the ecosystem, including the >$100 million from partner DeFi projects and over $10 million from physical policies through our legal cell in Bermuda.

Jas Singh, Co-Founder of Uno Re, stated, “This partnership with SYS Labs is a transformative step for $UNO. We’re poised to rejuvenate our platform and expand our reach within the SYS Labs ecosystem, offering advanced insurance solutions. Our collaboration will set new standards in blockchain security and DeFi insurance.”

This non-cash acquisition event is facilitated by the SYS Labs team replacing the core team and primary contributors to the Uno Re DAO (decentralized autonomous organization), which governs the development of the protocol. This emphasizes SYS Labs’ dedication to strengthening the security framework within its ecosystem, and will leverage their industry experience and relationships to expand Uno Re’s offerings onto additional layers and blockchains, creating new capital channels. The integration of Uno Re’s coverage products with SYS Labs’ blockchain solutions will create a robust, secure environment for DeFi

participants, and bolster the greater SYS Labs ecosystem by adding capacity for security audits and insurance within its diverse range of products and services, including Rollux, SuperDapp, Camada, and Pachira.

SYS Labs and Uno Re are broadening their reach with this strategic move, enhancing security, building trust, and driving innovation. We invite the crypto community to experience the growth and opportunities that this new chapter unlocks in making

About SYS Labs

SYS Labs is the crucible where cutting-edge technology and financial revolution converge, building the fundamental layers of true Web3, and connecting users, dApps, and assets to create seamless flows between ecosystems. SYS Labs is a venture builder that creates the infrastructure, dapps, and tools necessary to meet the needs and desires of a global population, all backed by Bitcoin’s security and enhanced by Syscoin’s finality and groundbreaking L1 data availability solution, Bitcoin DA.

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About Syscoin

Celebrating a decade at the forefront of blockchain innovation, Syscoin has been a pioneer in harnessing Bitcoin’s proven security for scalable blockchain solutions. With the development of Rollux, an OPStack EVM Layer 2 solution, and the Proof-of-Data Availability (PoDA) protocol, Syscoin stands as a testament to blockchain’s evolution. Syscoin’s approach to modular blockchain design, emphasizing performance and cost efficiency, has now culminated in the integration of zkDA – a testament to what Bitcoin’s modularity can truly achieve.

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About Uno Re

Uno Re is building a fully secure decentralized insurance ecosystem to serve institutional and individual Web3 participants. The protocol’s insurance platform has sold over $15 million in coverage across various crypto protocols, with risk underwritten for over eighty-five different protocols and six stablecoins on our B2C Insurance Sales dApp — The Cover Portal.

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Read more about the SYS Labs & Uno Re deal by visiting the blog on Rollux.com.

Media Contact:

Dylan Stewart
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