SYLO’s partnership with CENNZnet → more rewards for node runners.

Within the roadmap for 2022, Sylo team has made known their plans to migrate to CENNZnet network for their node incentivization program.

One would ask; why CENNZnet blockchain?

To be frank, I was expecting Sylo to migrate to Polygon a long time ago, and save investors the terror of Ethereum fees, but then I had to take a deep dive, and I discovered why they picked CENNZnet.

1st, the Sylo migration is not a total migration, in the sense that the bridge will only be available to node runners, who’ll have to transfer their tokens to CENNZnet, where the incentivization rewards would be applied.

Sylo and CENNZnet happen to be both under the Centrality ecosystem, a platform that strives to provide a decentralized environment by supporting DeFi ventures and DApps. Some of the protocols found here include Centrapay, PlugNet, Carbonclick, and other blockchains.

CENNZnet is a PoS blockchain and a decentralised application platform from New Zealand, which is also where Sylo is based. The devs recently launched CENNzX, which is a spot exchange where tokens like Cennz, CPay, Sylo and PlugNet can be traded in the future.

With the Sylo nodes incentivisation happening on CENNZnet, node runners would benefit from lower gas fees (in form of CPay tokens) while enjoying rewards higher than what was obtainable on Ethereum network.

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6 thoughts on “SYLO’s partnership with CENNZnet → more rewards for node runners.”

  1. Scalability and high gas fees remains major issues in the cryptoverse. Thanks to some protocols such as like Polygon, BSC and others that make trading experience more seamless.

    Sylo is one of those alts I became acquainted with a few years ago. Nice to see they are still cooking something.

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  2. The high gas fees have been a major source of concern for most project on the Ethereum blockchain. I think the migration by SYLO to CENNZnet network for their node incentivization program is a good one for lower gas fees.

    But is there anywhere to calculate before making the decision to use the CENNZnet network?

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  3. This is good for Sylo. This is the same feeling that I will have when Utrust eventually completes its migration to Elrond network from the Ethereum network. It will a sight to behold.

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  4. This thread on SYLO is a good one as I know this project to be one of my most preferred in the cryptoverse given that it wants to change the narrative of the Web3 into something truly decentralized.

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