Syscoin Community Weekly Update #2

This weekly update is written by and for the community and will keep you up-to-date on all the latest Syscoin, Blockchain Foundry and SCMT news!

General Syscoin Update

New Whitepaper released!
A non-technical version will be out soon…

CPS Airdrop Snapshot

The Coinpayments Coin (CPS) airdrop snapshot will capture all Syscoin Aliases that contain a balance on July 1st. 6% of CPS released will then be distributed proportionally among those Aliases.

If you have funds on an address not linked to an Alias you need to create and link an Alias to that address before the 1st of July, in order to participate in the snapshot.

Currently the only way to create and link the Alias to an existing address is via the Qt wallet console. An easy to follow guide can be found here.

If you still have funds in the Blockmarket or QT 2.x wallets, you need to upgrade to 3.0 before creating an alias. Please follow this guide to upgrade to 3.0.

Please NOTE: The airdrop will not happen until July/August. Also, a Masternode Alias is not the same as a Syscoin Alias.

SCMT news

SCMT are now publishing Syscoin Weekly Updates every Tuesday!


Syscoin Community Marketing Team have recently established partnerships with several new content writers, who among them have a combined monthly readership of more than 650K crypto enthusiasts!

Check out some of the most recent Syscoin related articles here and here!

SCMT Logo Design

Thanks to Slack member, @buzz, SCMT now has its own logo!

SCMT proposal

We have been able to submit our marketing proposal at the last minute! If we get enough yes votes the funds for this month will go towards our continuing marketing initiatives, rather than go to waste. Our proposal is pinned in the Community Marketing Slack room in the main Syscoin channel, and we invite you to read it and make the effort to vote!

How to vote: 
1 Open your QT that contains your MN collateral
2 Unlock your wallet
3 Open up the debug console and paste (all on one line):

gobject vote-many 6de8805a766672914591297e2518e986c27efc5dc9634dea51ead8af1b484e9c funding yes

There is a separate proposal in place that splits the available funds 3 ways:
SCMT 59K SYS, Chinese Community 50K SYS, and a fund for BCF developers who don’t own sys, 59K.

To vote for this proposal follow step 1 and 2 and paste this in step 3:

gobject vote-many cab1f6023996e2ebbf808a1aa6d25aca5941ec4bc74cf38f25a86b8accbca40b funding yes

Community Marketing Mini-Proposals

We’ve seen that the community (knowing Syscoin better than anyone) can have amazing ideas to market and promote Syscoin, and to strengthen the community in general. SCMT are always open to new ideas, but we also want to help community members to develop and deliver their own marketing initiatives.

For large-scale marketing ideas that require significant funding, anyone can submit a Masternode funding proposal. For smaller projects however, sometimes the 500 SYS fee will be uneconomical. That is why we came up with a plan that will make it possible to propose ideas that require smaller amounts of funding, and let the community decide on which ideas should receive it.

We will set aside $2000 worth of SYS each month for community members to apply for, and each month we will conduct a poll that will enable the community to vote on which proposal to fund. If you want to apply for funds, please fill out this form before 24th of June

Syscoin 2.0 to Syscoin 3.0: Exchange update

Important Notifications

  • Do not withdraw/send funds to BM1.2.X.
  • Do not withdraw/send funds to QT2.1.X.
  • In doubt about sending funds? Wait till Blockmarket v3!
  • Blockmarket v3 is in final testing and will be out very soon!

As stated in the previous Syscoin Weekly Update, upgrading your wallet from Syscoin 2.x to Syscoin is mandatory. Please find the upgrade guide here. You can download Syscoin QT here.

Exchanges that have not upgraded yet (at the date of this publication):

  • Poloniex, Yobit, Upbit

Exchanges that have upgraded (at the date of this publication):

  • Bittrex, Livecoin,, Binance, Sistemkoin, Vebitcoin, Bittyliciousm Coinomi (still in Beta-new release coming)

Technical Updates

  • New wallet released: SYSCOIN QT You can find it here.
  • BM3 in final testing and will be launched soon.
  • Within BM3, you will be able to link new Aliases to existing addresses. As stated last week, you will not need to move Masternode locked coins or lose seniority.


  • At the moment of publishing there are ~1000 masternodes online.
  • Latest release of QT Wallet for creating and managing masternodes is version
  • Masternode daily reward calculation: 37411.2 SYS per day divided across the number of active masternodes (Currently ~1000).
  • Nodes can’t receive blockrewards before they are online. Once online, it takes 2.6*((number of masternodes)/60) hours to get your first reward.

Checking masternodes

You can check your nodes with your server console on your server (e.g. Putty). Uptime of your master node can be checked by inserting this line into you server console (e.g. Putty):

syscoin-cli masternodelist activeseconds | grep [your IP address]

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