ZenChain Protocol: A Dedicated Blockchain That Is Optimized Specifically For DeFi And NFTs.
Efficient blockchain for DEFI & NTFs
Cryptocurrencies and blockchain technology are just the foremost recent developments stemming from this need. We will imagine the digital currency because the minted gold coin, and therefore, the smart contract because the system for the coin to start out circulating. DeFi’s appeal makes it not only of interest to individual investors, but also attractive to institutional investors. This is often an enormous change from just a couple of years ago when many of us opened against bitcoin and viewed other cryptocurrencies as scams. And therefore, the times it’s proving all views and judgments about it had been initially wrong.
And I think which will be a neighborhood of attracting investors to enter this market. But the reality isn’t easy for investors, there are always gaps between the project owner and therefore, the investor, providing immediate liquidity option for promising projects while also providing grants investors access to exclusive swap pools. And that I think there’ll be an answer to beat this, in order that everyone are often more equal when investing. And therefore, the project that I would like to introduce is ZenChain.
ZenChain is a dedicated blockchain specifically optimized for DeFi and NFT applications. Its protocol provides high transaction performance, lower risk of errors and intelligent feature development specifically for financial services fulfillment for both fungible and non-fungible tokens within the blockchain ecosystem. ZenChain offers some solutions to solve the aforementioned DeFi problems. First, it offers scalability, high-performance blockchain with Tendermint Power, an Etherum bridge, Tron, Binance Smart Chain(BSC) makes DeFi and NFT cross-chain solutions and built-in DeFi primitives. And Zenchain Protocol also brings solutions for non-fungible tokens (NFTs) as applications such as another asset in a coin exchange house, rental of NFTs, as well as the power of NFTs to the DeFi ecosystem and DeFi to NFTs.
Scalable, high-throughput Blockchain: Proof-of-Stake blockchain, built using the Cosmos SDK which runs on top of the Tendermint Core consensus engine.
Cross-Chain: Support cross-chain with bridge solution between Ethereum, Binance smartchain, Tron and more
Built for Defi & NFTs: With built-in core DApp for Defi & NFTs — ZenChain is ready for Defi & NFTs ecosystem from start
Supports smart contracts: ZenChain supports smart contracts, enabled by CosmWasm, EVM technology.
The Zenchain Protocol is a dedicated application development for DeFi and NFTs that offers high performance for all transactions, more secure blockchain specialized for DeFi, rapid development of dApps with a minimum attack surface for financial smart contracts. Besides, it provides a government reliability highly immutable. And with Non-fungible token applications:
Minting: Speed of sheet to create NFTs.
Auction: The marketplace for user-owned digital goods which includes collectibles, gaming items, etc.
Rent: Marketplace where owners of NFTs do not need to sell their NFTs, only use them for rental.
NFTs X DEFI: The idea of creating this conjunction works in two ways:
Use of NFTs as collateral in Defi: full support of cross-chain NFTs and Def, allowing NFT owners to be more powerful with their NFTs. And use of Defi to mint NFT-Fi: NFT-Fi will be a non-fungible token with DeFi traits and will be minted providing liquid to DEX or lending systems.
Token Name: ZEN
Token type: BEP20
Total Token Supply: 100,000,000 ZEN
Initial circ supply: 1,200,000 ZEN
Initial market cap: $360.000
Unsold/Unused token: Burn
All funds in previous fundraisers were raised in stable coins and fiat currencies. The stable coin is either self custody and stored in multisig wallets, requiring at least 2 out of 3 signatures from the management team, or is stored with a qualified custodian. Funds will be utilized according to the allocations below:
50.00% Protocol Development
25.00% Business Development and Marketing
10.00% Legal and Accounting
The use cases intended for ZEN include but are not limited to: protocol governance, exchange fee value capture, derivative collateralization, liquidity mining, and staking. Further details regarding each of these use cases can be found below.
Protocol Governance: The ZEN token can be used to govern various components of ZenChain including the futures protocol, exchange parameters, and protocol upgrades via a DAO structure.
Exchange Fee Value Capture: After the relayer reward distribution, the exchange fee will undergo an on-chain buy-back-and-burn event to accrue value for ZEN.
Mint, Auction, Rent NFTs: To mint NFTs, or bid in the marketplace, users will use ZEN to bid and pay a fee.
Collateral Backing for Derivatives: ZEN will be utilized as an alternative to stable coin as margin and collateral for markets. In some futures markets, ZEN can also be used for collateral backing or insurance pool staking where stakers can earn interest on their locked tokens.
Exchange Participation Incentives: The foundation plans to incorporate a liquidity mining scheme and distribute a fixed number of ZEN tokens daily weighted by the liquidity each network participant provides.
Tendermint-based Proof-of-Stake (PoS) Security: To ensure the security of ZenChain, ZenChain will incentivize nodes to stake ZEN and participate in the ZenChain network consensus with block rewards.
For DeFi there is no need to talk about the features or the value it brings to this market. In 2021, plans for DeFi projects will be heavily deployed, and DeFi projects will make a splash again in 2021. For ZenChain it is still a new project but what we are Seeing it is giving a feeling of a major project to the market in the near future. I find their team very good, and furthermore the idea to develop this project are quite interesting.
► For more information please visit links below:
Litepaper : https://docs.zenchain.co/
Telegram group: https://t.me/zenchaingroup
Telegram channel : https://t.me/Zenchainofficial
Bitcointalk Username: SoemOen
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=2737315
Eth Address: 0xc06e5a8dc34114742c4b7c90a98eda643eace24b