V Systems 3 the Riemann Smart Contracts Activated

4 min readFeb 22, 2022

We are very excited to announce that our V SYSTEMS v0.4.2 is now activated from the block height of 25416184. This latest release is codenamed Riemann, and brings new features of smart contracts, mainly focusing on swaps, options, white and black lists, escrow, and non-fungible token contracts. It marks a significant step towards our long-term goal to bring traditional financial tools to the decentralized ecosystem. You can find more about VSYS v0.4.2 detailed here on Github.

The Riemann Smart Contracts

The latest Riemann smart contracts will provide new functions including:

V Atomic swap: allows cryptocurrency owners to exchange coins in a peer-to-peer network, which can occur either on the main blockchain or off-chain, and aims to eliminate the need for intermediaries and counterparty risk.
V Swap: the AMM smart contract, provides a decentralized method of swapping between cryptocurrencies, earning yields, and providing liquidity without having to go through an exchange.
V Option: allows users to generate options for tokens on the VSYS blockchain. The options themselves are also tokens that can be freely traded.
V Stable Swap: replicates the traditional order book method of handling trades. It supports the exchange of assets on both sides. For some pairs (like option exchange) whose price will change rapidly, V Stable Swap also protects the user to sell and buy the asset at a fair price.
V Escrow: allows a third party to facilitate transactions between two parties.
Token Contract V2: allows token creators to create either a blacklist or a whitelist contract. The blacklist contract allows everyone to utilize the tokens as long as they are not on the blacklist, while the whitelist contract does not allow anyone except those on the whitelist to utilize the tokens.
NFT Contract V2: bears the same functionalities (blacklist/whitelist) as Token V2 except with non-fungible tokens.

For Our Ecosystem

In line with the ongoing ambition to improve the usability of the V Systems blockchain, v0.4.2 and the new smart contract features have been created with an aim to support a large number of new DeFi applications, low-cost transactions, proof of ownership, NFT, DEX infrastructure and many others.

All the new features in the latest release have been activated on the VSYS Testnet. We have also conducted thorough testing in order to ensure that all of the functionality of the smart contract is working as expected. We will continue to run the tests to provide ongoing support and ensure the robustness of the release.

During the v0.4.2 upgrade process, all supernodes of the V Systems network will also be informed of the necessary requirements and steps.

Looking forward

Facilitated by the new release, we are able to provide more DeFi and NFT solutions for developers, our ecosystems, and conventional business and industries. In the past year, we have successfully implemented several signature use cases including:

GoldZip

GoldZip is a gold-pegged token backed by physical gold. It’s a portable, liquid, easy-to-use, and secure crypto-asset built on V Systems blockchain technology. Physical gold ownership can be easily tracked and transferred through blockchain technology. GoldZip provides flexible options for blockchain investors seeking exposure to gold. Having a trusted gold-pegged token in the DeFi ecosystem is a long-sought desire of the entire cryptocurrency industry, it allows one to be exposed to the qualities of gold in the blockchain-based DeFi environment.

In the future, GoldZip token will allow V Systems DeFi scene to trade against gold, hedge with gold, use the gold token as collateral for the minting of derivative tokens or to use gold token as collateral for leveraged trading and borrowing. Furthermore, V Systems options contract allows for trading with advanced financial instruments such as options on the chain. Combined with GoldZip, V Systems DeFi users will be able to trade gold options directly on the chain without a middleman.

Monozyg

Monozyg is a physical art backed NFT social network built on V Systems blockchain platform. It brings people together through their shared love for art and expression, and to find out who owns which collectible across visual art, streetwear and much much more in the digital world.

The V Systems blockchain provides a coordination layer for digital assets, giving users ownership and management rights. Our NFT technology adds unique attributes to the digital ownership backed by the physical art pieces, and changes the relationship between owners and creators of these assets.

Looking forward, V Systems will continue to invest heavily in R&D of blockchain technology related to cloud and database integration. These areas serve as the industry of industries in the virtual economy of the future. vCloud, the cloud-oriented R&D arm of V Systems, is working toward not only a technology platform that would bring closer integration between cloud computing and blockchains, but also aims to showcase competitive solutions to centralized cloud users of today.

For more information, please visit

V SYSTEMS website: https://v.systems/

V SYSTEMS Github: https://github.com/virtualeconomy/v-systems/releases/tag/v0.4.2

V SYSTEMS explorer: https://explorer.v.systems/