Shanghai-Based Institutional Investor Chain Capital Supports Zyro — A DeFi Project on Zilliqa

in #blockchain5 months ago (edited)

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Recently, Chain Capital, a well-known Blockchain investor just announced its investment in Zyro. Zyro is a decentralized trading protocol, an equivalence of Uniswap on Zilliqa. It is also the biggest DApp on Zilliqa.

Zyro — A decentralized trading protocol
Co-invested by Zilliqa, Zyro is a DeFi protocol based on Zilliqa. Compared with other public chains, Zilliqa has outstanding sharding scalability, enabling a TPS of as high as 2800+. Meanwhile, it only charges a small amount of Gas fee. As the most popular DeFi platform, ETH is troubled with high Gas fees. Zilliqa has a great advantage in this aspect.

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Developed by core members from the Zilliqa community, Zyro is a decentralized protocol based on Zilliqa public chain, with ZYRO being its native governance token. ZYRO holders are able to participate in future planning and asset management for Zyro. Users are allowed to mine ZYRO by providing liquidity and trading on DEXes. They can also get ZYRO through successful referrals and becoming nodes. The underlying public chain Zilliqa adopted by Zyro greatly increases the transaction speed and reduces transaction fees, enabling a frictionless trading environment and the best battlefield for frequent traders.

The total supply of Zyro’s native token ZYRO is 300 million and the distribution of the token is as follows. 75% of the total supply will be allocated to mining, with 25% for trading mining, 25% for liquid mining, and 25% for node mining.

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The Shanghai-based investor regards Balancer (BAL) and Curve (CRV) as the competitors of Zyro. ZYRO will have two rounds of private sales, with an estimated value of $30M and $75M respectively. “Hence, Zyro is more optimistic in terms of growth compared to BAL and CRV”, pointed out by Chain Capital.

Zyro wallet (the former Zilliqa Plant) is an important part of Zyro ecosystem with more than 50,000 ZIL users, 10,000 monthly active users, and a 30% of monthly user retention rate. Users will have directly manage their zrc2 and Zil tokens in Zyro Wallet without the involvement of a centralized party. Zyro will become the most vital and core part of the whole Zilliqa DeFi ecosystem.

Roadmap wise, the project plans to launch Dex, Zyro Wallet, and node mining in 3rd quarter, as well as Zswap Beta, support trading & liquid mining in Q4 this year. Zswap will be officially released in 2021 Q1.

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OKEx Jumpstart Staking Program
On Sep 10, OKEx Jumpstart announced the launch of 1st staking mining program, where OKB holders are allowed to mine ZYRO by staking OKB. The total ZYRO available is 15 million, 5% of the total supply of ZYRO. It has an estimated value of $3.75 million based on the price of the 2nd round of private sale.

Join OKEx Jumpstart Staking Program: https://www.okex.com/jumpstart

Chain Capital’s Viewpoint
The DeFi sector has seen an explosion in this summer with the emergence of Swaps one after another. The ETH DeFi ecosystem is undoubtedly the most powerful one, but other public chains still own a chance. Zyro is a DeFi protocol based on Zilliqa and it is expected to solve the challenges of low efficiency, high Gas fees, and bad trading experience. We will witness the day when Zilliqa DeFi ecosystem becomes mainstream.

About Chain Capital
Chain Capital is an accelerator that seeks to invest in the public chain, blockchain underlying technology, financial payment, internet of things, games, medical and artificial intelligence sectors. The firm was founded in 2015 and is based in Shanghai, China.

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(Chain Capital’s Portfolio)

Zyro — A DeFi Project in Zilliqa Ecosystem
Developed by core members from the Zilliqa community, Zyro is a decentralized protocol based on Zilliqa public chain, with ZYRO being its native governance token. ZYRO holders are able to participate in future planning and asset management for Zyro. Users are allowed to mine ZYRO by providing liquidity and trading on DEXes. They can also get ZYRO through successful referrals and becoming nodes. The underlying public chain Zilliqa adopted by Zyro greatly increases the transaction speed and reduces transaction fees, enabling a frictionless trading environment and the best battlefield for frequent traders.

Contact us

Official website: https://zyro.finance
Twitter: https://twitter.com/zyro_finance
Telegram: https://t.me/officialzyro
Contract address: https://viewblock.io/zilliqa/address/zil1ucvrn22x8366vzpw5t7su6eyml2auczu6wnqqg