Zenchain Protocol: A Dedicated Blockchain That Is Optimized Specifically For DeFi And NFTs.

Zenchain Protocol

Introduce

Cryptocurrencies have been a prominent topic in the financial markets for many years now. Since its inception, cryptocurrencies have made tremendous growth that has also become a part of everyday life. While not many people use cryptocurrencies today, there are still a number of large establishments accepting cryptocurrencies for payment. But despite the huge returns, trading cryptocurrencies carries huge risks, because its liquid also has anonymity to each user. And being always careful is the main thing and the key to success that you must do. Recently, most cryptocurrency trading platforms offer attractive offers and benefits. And One of the Cryptocurrency Exchanges that offers the system and big profits, one of them is the ZenChain projects.

What is Zenchain Foundation?

The ZenChain Foundation is developing ZenChain, a blockchain specifically dedicated to decentralized financial (DEFI) applications and non-fungible tokens (NFTs). By focusing on the functionality of the blockchain and dedicating it specifically to DEFI and NFTs, ZenChain provides unparalleled high transaction throughput, reduced risk of errors, and intelligent feature development specifically for the fulfillment of financial services for both fungible token and non-fungible token (NFT) on the blockchain

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.

Tokenomics & Distribution

The Zenchain Protocol has decided to reduce the public IDO to only 1.200.000 $ZEN which occupies only 1.2% of the total supply, the unused and unsold tokens of 3.800.000 will be burnt.

Allocation Detail

Moreover, for the token allocations belong to Public IDO, Early Contributors, and Strategic Partners, if any of them have been unallocated, unsold or unused, this proportion will be burnt before trading. Further details regarding each of these use cases can be found below:
1. 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.
2. 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.
3. Mint, Auction, Rent NFTs: To mint NFTs, or bid in the marketplace, users will use ZEN to bid and pay a fee.
4. 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.
5. 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.
6. 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.

ZEN token release schedule

Conclusion

Overall ZenChain’s streamlined approach to data orchestration in a decentralized blockchain ecosystem automatically enhances verifiability. One of the main purposes of ZenChain smart contracts is to eliminate the need for third-party users from different industries. In fact, with smaller links in the chain, the cost benefits can be passed on to traders and users. Also, DeFi applications built on Ethereum are largely open access, so anyone with a stable internet connection and crypto wallet is eligible. I believe in the future ZenChain financial protocols allow you to control the buying, selling, trading and profiting related to your digital assets.

Important links for further reading:

Website: http://www.zenchain.co/
Litepaper : https://docs.zenchain.co/
Telegram group: https://t.me/zenchaingroup
Telegram channel : https://t.me/Zenchainofficial
Twitter: https://twitter.com/zenchainco
Facebook: https://www.facebook.com/Zenchainofficial
Github: https://github.com/zenchainprotocol
Medium: https://medium.com/zenchain-protocol

Author

Forum Username: Jack Min
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=2737333
ETH Wallet Address: 0xEF659f4afDb806055B792833DdF3dA13C94439D1