Some of you might know this coin, Suterusu, and be ready for it. If not, check it out. I’m hyped a bit myself. And now it’s partnering with NEO!
Suterusu, basically, attempts to bring z-cash level privacy to blockchains. Blockchains have suffered from being pseudonyonmous, not private, in that despite not knowing who owns a wallet, the wallet itself, and that wallet's balance, remains publicly visible on a blockchain. Sutuerusu is attempting to fix this.
The latest news on this coin is a partnership with NEO, who will be introducing a 3.0 upgrade in the near future. The two projects are beginning a technical cooperation that will be used for developing a privacy layer. The privacy later is intended to help with NEO’s upcoming defi.
No official English news or expansion of this has been released at the time of this writing but based on translations from Chinese news sources, Suterusu plans to develop the privacy function of NEO3's layer two.
Despite a google translation of the article saying the coin will migrate, it will not be migrating to NEP5. SUTER will remain erc20.From there, it will form the basis of NEO’s decentralized finance infrastructure.
This is big for Suterusu and NEO both, as adding a functional layer of privacy to an otherwise public chain will be a huge step forward for all of crypto.
One part of Suterusu holding some people back is that it is not on ‘major’ exchanges yet. But this shouldn’t stop you from jumping in if you are willing to take the risk that comes with investing in any new project, or hell, ceylto at all. One positive aspect of holding SUTER is the ability to delegate a stake. Currently staking rewards are quite high, with a 50% annual return on coins staked.
Note: none of this is financial advice and crypto investments are gambling!