A Dedicated Blockchain That Is Optimized Specifically For DeFi And NFTs
You may not have thought about it, but “irreplaceable” assets are the most valuable assets because they cannot be created anymore, they will have their own value for a group of people. Such assets can be physical objects such as pictures, or more broadly, real estate around the world. So how big will the crypto market cap be when those asset classes are tokenized into NFTs? The applicability to real estate will be far away because real estate is bound by government laws in each country, but now NFT has started to show its applicability when encroaching on the market music, artwork by new artists. And that is why many projects appear and develop in this direction in the cryptocurrency market, and the name that I want to talk about today is the project Zenchain that I have researched and found. It is getting a lot of attention from people.
The cryptocurrency industry is based on a simple premise: people should be fully in control of their finances. While it seems like a simple and obvious statement, the current systems are far from providing financial services that are truly under the control of the people who use them. The mission of ZenChain is to give people (and in the future, machines, and devices) seamless access to decentralized finance (DeFi) with special non-fungible tokens (NFTs). For that purpose, we are introducing ZenChain, a dedicated blockchain specifically for decentralized finance (DeFi) with special for non-fungible tokens (NFTs). ZenChain approaches decentralized finance as a specific and critical segment of the blockchain community. ZenChain is a dedicated blockchain that is optimized specifically for DeFi and NFT applications. ZenChan does contain all core DeFi applications built in the core of the chain, not written by smart contracts like swap, lending, and insurance dapp. ZenChain also contains all applications supported for NFTs like minting, auctions, and trading. And special, with ZenChain, your NFTs can use it as collateral in Defi to make a loan or staking in a pool to earn extra token
Benefits of ZenChain
- Development of key applications for the DEFI and NFTs.
- High throughput for all transactions
- Safer, more secure blockchain specifically for decentralized finance.
- The rapid development of dApps for decentralized finance.
- Peace of mind that the blockchain is not used for any types of non-financial dApps, thus decisions of Foundation and core developers are focused 100% on decentralized financial use-cases and nothing else.
- The rapid development of dApps with dedicated calls specifically for finance applications.
- The minimal attack surface of financial smart contracts developed on the platform.
- Reliable governance
- Highly immutable — by periodic anchoring to the blockchain.
ZEN token overview and use-cases
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.
Release of public Testnet V1.
Launch of BIP-20 token.
Release blockchain explorer
Implementation of bridges to Ethereum, Tron, Binance SmartChain on Testnet
Release of Incentivized Staking Competition and bridge.
Release NFT mint, auction, rent application Testnet
Release Dex Testnet
Release Lend and borrow Testnet
Launch of Mainnet V1.
Swapping of the token, from BIP-20 to native chain.
Implementation of bridges to Polkadot on Testnet
Implementation of bridges to multiple blockchain networks main net
Release NFT mint, auction, rent application Mainnet
Adding staking incentives.
Release Dex Mainnet
Release Lend and borrow Mainnet
Adding liquidity mining (Dex, Lending) incentives.
Launch of cross-chain yield generation.
In general, Zenchain is showing that what they want to achieve in this market is very clear, I think in a period when the market is over saturated by projects with fraudulent signs, we need transparent projects like Zenchain. The praise for this project is probably too much because what we are seeing about it is true, and there is no doubt if in the future this project is a leading name in its field to care.
Litepaper : https://docs.zenchain.co/
Telegram group: https://t.me/zenchaingroup
Telegram channel : https://t.me/Zenchainofficial
bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2769258