(MENAFN – GetNews)
SCO Lab Introduces Sponsors and Co-sponsors
50 media companies and 13 institutions were in attendance as NULS introduced the SCO model (Staking Coin Output) to the Chinese blockchain and cryptocurrency industry. SCO is a brand new way of issuing assets on chain, by distributing project tokens to public chain PoS and DPoS stakers that participate in SCO nodes.
At 7:00 p.m. on August 15, over a dozen elite blockchain institutions, under the witness of 50 media associations and hundreds of industry insiders, held an online introduction to formally establish the blockchain project incubator, SCO Lab.
The first members of SCO Lab included, NULS, Staking2, BitSG, Xionglin Capital, BlockCapital, HashQuark and BISS, with the following six co-sponsors: Turbine Capital, CoinALL (OKEx), Nabox, BW.com, StakingScan, and CoinInn.
At the launch meeting, SCO Lab members explained in detail why the SCO is the ultimate blockchain revenue solution, and why the SCO mechanism can start a staking 2.0 era, including how SCO Lab will plan the SCO industry’s progression.
The following is a transcript of the highlights of the meeting:
I. SCO Lab Sponsor Introductions
(1) Liesa, CEO of NULS Core Team: ‘SCO utilizes POS public-chain assets as miners. SCO Lab has initiated the ‘SCO 11’ a Superstar Enabling Program to fully support 11 high-quality blockchain projects.
‘SCO (Staked Coin Output), proposed by SCO Lab, is a new way of issuing assets on blockchain, which allows blockchain project parties to earn revenue and offer new project tokens through the use of staking rewards distribution and smart contracts.
Generally speaking, participants can stake NULS or other PoS assets to mine other tokens, while the corresponding SCO project obtains the consensus rewards of the PoS chain asset to use as operating funds. This pattern of asset issuance on the chain allows investors to withdraw their stake at any time, and never risks their principal-a major difference between SCO and the traditional ICO and IEO.
As a blockchain project incubator, SCO Lab has also launched the ‘SCO 11 Program incubation program which aims to identify and incubate 11 high-quality projects with the greatest development potential.
SCO Lab will provide comprehensive ecological development support for the projects though technology construction, community growth, fund support, exchange listings, and media integrated marketing, etc.
(2) Xiao Xiao, founding partner of Staking2: ‘SCO is conducive to the healthy development of the project and reduces the investment risk of users.
‘Staking2 (staking2.com) is a one-stop platform for staking services. It provides users with high-quality project information, strategic tutorials, data analysis, revenue management and other services to help users participate in staking more safely, easily and efficiently. At present, it has cooperated with nearly 20 public-chain ecosystems, and serves more than nodes.
I am very supportive and optimistic about the future of SCOs. For the project side, the SCO will help projects in the early stage to quickly obtain full support from community users and ecosystem of the public chain, with double guarantees in terms of traffic and funds. Additionally, the project side gets their revenue in a continuous way, rather than a one-off, which greatly avoids the adverse impact of ‘sudden wealth’ on the team, which is more conducive to the healthy development of the project side.
For participants, SCO greatly reduces the risk of token holders. The original staking assets are always in their own hands and there is no risk of loss. Users are free to increase, reduce or even withdraw their staked assets based on the long-term potential of the project.
Compared to the traditional way of waiting for a token to be listed on an exchange after sending assets to the project, this is a much more comfortable way to support a project, since token holders assets never leave their own possession.
Staking2 will provide the best resources to fully support SCO Lab. For example, aiding in the popularization of SCO-related content and ecological interpretation through precision targeting of user groups, and though continuous updates of the activities of SCO ecological projects over time. We plan to aggregate users through the platform’s information services and provide product publicity, traffic introduction, airdropping and other services to project and node parties.
(3) ZK, product owner of BitSG: ‘The SCO is the ultimate model, which will bring about a big explosion.
‘BitSG is currently the largest integrated blockchain service organization in Singapore serving and incubating over 200 projects. BitSG has received support and investment from many industry leaders and has rich resources.
When NULS co-founder Reaper Ran first came up with the idea of SCO to me, I could hardly sleep all night. Do you know why? Because it is so fantastic and it will bring a big outbreak, not only the overall outbreak of NULS ecosystem, but also a new wealth feast.
Although I am not addicted to money, I hope my customers, users and friends can make money, and those who miss BTC and ETH will have the next chance to make a fortune. Now I think this opportunity has come, that is, NULS and the NULS ecosystem.
As far as I know, SCO integrates all the past pattern of staking, resonance, auction and so on. It is the ultimate pattern that can bring sustained development and push forward the progress of the public chain ecosystem, even the whole industry.
The direct impact of the excellent pattern is the rise of the coin price, not a transitory rise, but steady and sustained rise. SCO can automatically adjust the relationship between supply and demand in the market, and can continuously attract project parties and users to participate in NULS and NULS ecological projects. There will be new funds in the market alongside new users. The ingenuity of SCO will give NULS leverage, leading to the next rise of the industry in a spiral upward way.
(4) Xiaobao, Xionglin ‘Capital Partner and Bifox COO: SCO is the pattern that the blockchain industry has been looking for, an all out win/win for everyone.
‘Xionglin Capital is a blockchain venture capital and investment banking service provider, covering basic public chains, application protocols and financial services in the blockchain ecosystem. It aims to provide a series of financial, technological and strategic services for the users of the blockchain start-ups, as well as post-investment services for the invested projects. We also provide quantitative hedge investment strategies for the secondary market to meet the needs of various investors. The exchange Bifox is also one of our recent key incubator investments.
I knew about NULS before and recognized its technology as first class. I think SCO is exactly the pattern the blockchain industry should explore. It is a full integration of the current market play, achieving an all-win situation for users, project parties and communities.
SCO Lab will find many high-quality projects in the future. As one of the sponsors, Xionglin Capital will provide supports in the following aspects together with Bifox:
1. Direct investment. We will invest in SCO Lab’s high-quality projects;
2. Community support. Xionglin Capital and Bifox will connect our community resources with projects of SCO Lab;
3. Technical support. We will dock with other technical parties to provide technical support for SCO Lab projects;
4. Green light for listing. Bifox will receive the green light to list the projects in SCO Lab with the simplified process;
5. VIP services. We will provide VIP services for the projects in SCO Lab listed on Bifox;
6. Media help. We will provide publicity support from the existing media resources of Xionglin Capital for projects in SCO Lab.
(5) Song Houda, BlockCapital CEO: ‘SCO is a staking innovation. BlockCapital will fully support the development of SCO Lab.
‘BlockCapital is the Eco-foundation of BLOCK GLOBAL. It grasps the first-hand information of the blockchain, first contacts the world’s top projects, and has the best blockchain human resources. The primary market has a professional research team, with 10 indicators and 102 filtering criteria to ensure the quality of projects invested. The secondary market has a professional risk control team, providing 24/7 coin analysis service in real-time, so that every investor who chooses Block Capital can have a clear understanding of our investment strategy.
The emergence of SCO is more than a great staking innovation, it is also a great promotion to POS public chains. SCO effectively enhances the liquidity of high-quality assets, and leaves the identification of high-quality assets to the market, so that high-quality projects can grow in a more fair environment.
Block Capital will fully support the development of SCO Lab. The media in Block system, including block360.pro in Mainland China, Blocktimes in Taiwan, CoinInn in South Korea, and Beecast in Southeast Asia, will make every effort to empower SCO Lab’s high-quality projects, as well as Block Capital’s global high-quality community and top resources.
(6) Hu Zhixiang, Product Manager of HashQuark: ‘SCO has pushed staking to a new level and integrated the whole ecosystem.
‘HashQuark is a professional Staking Eco-service provider under HashKey Group, a Hong Kong financial technology company. HashQuark focuses on staking ecosystem construction and services in the public chains of POS, DPOS and other consensus mechanisms with security, transparency and efficiency, and is in rapid ecological expansion. Meanwhile, HashQuark Open Staking Platform (OSP) has cooperated with several leading global digital asset storage, trading platforms and investment institutions to provide stable and secure staking services for tens of millions of digital asset users and institutional investors.
SCO is a new way of issuing assets on the chain, pushing staking to a new level with the integration of the entire ecosystem, which is convenient and efficient for both users and project parties.
HashQuark is a secure, efficient and globally distributed staking infrastructure service. Additionally, we have launched the OSP program to work with multiple well-known wallets, exchanges, KOL, and token funds, including imToken, Hotbit and Soros. We are gradually forming our own ecosystem, which will surely provide comprehensive support for SCO Lab.
(7) Miss Chen, BISS CMO: ‘SCO is not a one-time financing activity, instead high-quality projects can obtain funds continuously.
‘BISS. COM is the first membership-based exchange in the industry with more than 13,000 members to date. Members can enjoy a series of fine services provided by BISS. BISS is committed to building a new generation of exchanges that include the world’s top cryptocurrencies. Since its establishment six months ago, the user number of the exchange has exceeded 600,000, with a DAU (Daily Active Users) of nearly 16,000.
BISS has obtained strategic investment from top-class institutions such as BMAN, Zhen Fund, Matrix Partners, Ceyuan Venture and so on, providing supports for the later development of BISS.
We believe that SCO is not a single financing activity, but a continuous way to obtain funds. High-quality blockchain projects will continue to obtain funds and get the support of investors. Through the SCO, in addition to the rewards from staking, the project party also gains a basic consensus on the value of the issued assets, since the participants exchange the original public-chain rewards for the new digital assets.
In SCO pattern, a public chain can issue multiple SCO projects. How to empower projects holds the key to the development of SCO 11 program.
BISS is an exchange with a membership system and daily active users of about 16,000. Next, BISSS will provide technical and community support for SCO11 projects.
(8) Reaper Ran, co-founder of NULS: ‘Through SCO, the project side can continuously obtain funds, and the POS public chain can continuously obtain ecological projects and users.
NULS is a blockchain infrastructure, dedicated to making blockchains easier and helping blockchain developers to lower the technical threshold and save costs.
NULS 2.0 mainnet will be launched soon, and we will focus on ecosystem construction. Combining the characteristics of the staking economy, we propose SCO, which is a way to issue assets on the chain. Additionally, we have developed the product POCM according to SCO necessity, through which project parties can achieve an SCO with ease.
Using SCO for asset issuance, the project side can continue to obtain operating funds without private placement and financing. Instead of investing, the holder only needs to participate in the staking to get the project’s tokens and can quit at any time if unsatisfied with the development of the project.
SCO can continuously bring ecological projects and users to POS public chains, leading to greater liquidity and value of their assets. It also returns the initiative to the investors, and provides continuous funds for the project side. SCO has great imagination, space to grow, and potential.
II. From SCO Lab Co-sponsors
(1) Wang Mengchen, founding partner of Turbine Capital: ‘SCO attaches great importance to the community economy and realizes the visualization and quantification of the community economy.
We believe that the concept and vision advocated by SCO will build a virtuous cycle of investment and financing ecosystem. By coding most of the rules and designing a reasonable staking mechanism, the participating investors will have the right to withdraw at any time, and supervise the progress in real-time, which was not available in the past, so that the project parties who issue assets will have a fair, just and positive financing environment.
Additionally, SCO attaches great importance to the role of community economy in blockchain projects, and realizes the visualization and quantification of community economy’s contribution to blockchain projects. These are the main reasons why SCO attracted us in the first place.
As for staking, we believe that the staking economy does not give full play to its explosive power. The core of the staking is to exert its real power around the multi-community economy in addition to mining tokens based on the POS mechanism.
Through redesigning the staking mechanism, SCO returns the right to choose back to investors, and gives the community a pretty important role in the whole staking investment and financing process around different projects.
On the other hand, as a co-sponsor of SCO Lab, we’d like to contribute our own strength. On the premise of following the rules, we will work with other partners in SCO Lab to select excellent projects, mainly providing support in mechanism design, community growth, development funds, integrated communication and so on.
I hope that SCO Lab will burst out its spark step by step and become the leader of the blockchain staking economy.
(2) Li Xiang from CoinAll: ‘SCO makes investors, project parties and POS public chains interdependent, forming a virtuous circle.
As the industry’s leading digital asset trading platform with a deep strategic partnership with the world’s top exchange OKEx, CoinAll shares the world’s leading security system, 24-hour global customer service, more than 20 million user base, trading depth and liquidity with OKEx, and is committed to providing the best digital asset trading experience.
SCO reshapes the relationship between investors and project parties. First, investors do not have to give assets to the project side, so there will be no direct asset losses, and if they feel that the project is not good, they have the right to withdraw freely. Secondly, through SCO, the project side can continue to receive financial support, rather than a one-time investment. At this point, investors and project side truly stand in the same camp for the first time and form positive incentives to each other. Finally, SCO makes the POS public chains, investors, and project parties interdependent and can catalyze more projects and users for the POS public chains. The three constitute a virtuous circle.
(3) Ah Piao, founder of Stakingscan: ‘SCO can eliminate the ‘bad coin that gains money mainly by cheating.
Hello, everyone. I am Ah Piao, the founder of StakingScan. StakingScan is a professional website specializing in data analysis and visualization of the staking industry. Our vision is to reduce the threshold for users to participate in staking and to participate in and promote the healthy development of the staking ecosystem.
Staking is more conducive to the construction of a more united community, so that the overall project and the community will get more execution and initiative. Therefore, we are optimistic about the development of the staking ecosystem and decide to be a part of it.
So far, the staking economy system is still relatively simple, and many project parties are exploring better staking strategies. The SCO pattern proposed by NULS, in our view, is a very good attempt.
The Ethereum founder Vitalik once proposed ICO with a locking period for the chaos of ICOs, to restrict the project side, and SCO is such a pattern. The token staked by users can be unlocked at any time, so users have the initiative to restrict the project. In this way, we can eliminate a batch of ‘bad coins mainly aimed at raising money by cheating, and promote the project side to spend more energy in communicating with the community to make the community have a better understanding about the project side’s ideas and progress, thus forming a better community relationship. In addition, SCO can also avoid certain legal risks and be more friendly to the project side, so we are very optimistic about this innovation.
(4) Khaos, representative of CoinInn Asia: ‘SCO is a better choice for the public chain and the project side, which conforms to the essence of POS.
CoinInn is the world’s first PoS staking platform, providing a simple and efficient way to buy the most valuable PoS digital assets. Staking begins immediately after purchase and interests are re-invested automatically without any additional operations.
SCO is a better choice for both the public chain and the project side. With the support of the public chain, the staking project can quickly find and seed users and complete steps from 0 to 1. For the public chain, staking can produce a variety of valuable tokens, which is more conducive to supporting the value of the public chain assets and bringing greater value to users. It is in line with the essence of PoS!
(5) Chen Yu, Nabox CEO: ‘SCO is a great innovation that benefits multiple parties.
‘Nabox is wallet-based application support and incubation platform for NULS ecosystem, which will be deeply integrated into the NULS community to support asset management, community management, DAPP access, etc., in NULS ecosystem, to provide safe and convenient asset management and application incubation platform services for NULS community users.
SCO can integrate the upstream and downstream industrial chains of the whole blockchain, breaking the previous predicament of the project side fighting alone to find resources everywhere, greatly reducing the time cost and opportunity cost in the start-up phase. And the nature of a strong combination of SCO Lab has also carried out group endorsement for emerging projects, making it easier for projects to gain market recognition.
SCO can be said to be a great innovation for the benefit of public chains, project parties, trading platforms, users and alliance members.
For the public chain, SCO can reduce the circulation of assets, leading to the increased asset value, as well as the ecological projects and users; for the project side, staking can help them obtain continuous funds for project operation and development, which is deeply bound with the selected basic public chain, and obtain various resource supports; for the participants, they can get the token from the project party by staking of the public chain token to the project side node. Without the loss of their own funds, they can choose to withdraw at any time. This way also better supervises the project side.
Finally, I think SCO is just the beginning. In order to support the development and promotion of SCO, Nabox will develop specialized DAPPs, and provide more public chains, project parties and users with safe and convenient tools. In the future, we hope that we can integrate all effective resources and become the leader in this industry. We will be fully prepared to incubate the next project leading the bull market.
6. BW Global CEO, Kathy — ‘SCO is an efficient way to select quality projects.
BW is known as ‘Bit Net. As one the three earliest & well-known mining pools, BW owns the global domain BW.COM with over a million users, in over 45 countries to provide regional miners with mining pool services for major coins such as BTC, LTC, ETH, ETC, UB, SC etc. BW mining pool has produced nearly 300,000 BTC, 1.5 Million LTC, and 2 Million ETH for a total of 3 Billion US Dollars. On an average day it produces over 1 Million US Dollars from different cryptocurrencies, and majority of them are from its self-own mining machines.
Unlike the traditional Fund-raising, SCO is an efficient way to select quality programs
Project developers issuing digital assets with smart contracts on SCO program, takes a certain amount of time. During such period, investors can adjust their investing strategies, and even withdraw from it based on projects’ performances in developing and progressing.
When there are a few projects using SCO issuing digital assets, investors can make their own decision based on his/her own choices, after participating, if this project isn’t delivering expected results, an investor can choose to take back their investment, or put it elsewhere on a different SCO project.
In order to win with more supports from investors, a project developer needs to focus on how to run it successfully, and even perform better than others. An exchange-worthy project can directly be reflected on a SCO platform.
To conclude: SCO, as a brand new way of issuing assets on the chain, introduces external ecological projects and users into the ecosystem of POS public chain based on staking design, breaking the relatively closed situation of the staking economy of POS public chains. The emergence of SCO formally brings staking into the era of 2.0, which brings huge imagination into the space for the staking economy.
With the help of SCO 11 program, SCO Lab will take advantage of the capital, community, exchange, media and other resources of the first 13 members to provide all-around support for high-quality blockchain projects that are willing to issue assets through SCO, so that they can develop rapidly and establish their own complete ecosystem results.
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