Zyro’s Migration to Zilliqa on Oct 20 & 21 Million ZYRO Burn Program

in #defi5 months ago

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Zyro Foundation will start migrating ZYRO to Zilliqa mainnet ZRC2 tokens on October 20 and users will be able to switch their ERC20 ZYRO to ZRC2 tokens through OKEx, MXC.com, Bkex, and Zyro official website. The ZRC2 tokens switched can be used to participate in ZyroSwap’s first liquidity pool. Meanwhile, during the migration, 21 million ZYRO tokens will be sent to an Ethereum burn address, which will not circulate on Zilliqa mainnet. The 21 million ZYRO accounts for 7% of the total supply, with a market value of more than $3million. Zyro Foundation believes that this decision will consolidate its decentralization and create more opportunities for community governance.

Zyro is a Zilliqa-based decentralized protocol developed by Zilliqa’s core community members. ZYRO is the governance token of Zyro protocol, with which users are able to participate in the planning and asset management of Zyro. Zyro allows users to mine through providing liquidity and trading on its swap. Meanwhile, users are able to gain ZYRO tokens by inviting others to become nodes or becoming nodes themselves. With Zilliqa as its underlying public chain with higher efficiency, Zyro greatly increased the transaction speed and reduced transaction fees, making frictionless trading reality and providing an ideal battlefield for frequent traders.