Zignaly Overhauls $ZIG Tokenomics to Boost Development & Growth
To drive its vision of unlocking wealth-generation opportunities for everyone forward, the world’s first licensed social investment platform, Zignaly, held a community voting for its $ZIG tokenomics upgrade.
With an overwhelming majority, $ZIG community members unanimously voted in favor of the upgrade. Key highlights of the upgrade include a 125 million $ZIG pre-mainnet staking program to reward loyal community members and boost value distribution and community engagement. The upgrade will also increase the $ZIG token supply by 25% to a total of 2.5 billion. Also, Zignaly founders are making a generous donation of 100 million $ZIG to the foundation.
This upgrade empowers the Zignaly community with unprecedented opportunities to earn, fueling the project with the necessary resources to aggressively expand its ecosystem and revolutionize its market presence.
With these additional resources, the project aims to incentivize network participation, fund ecosystem development, and ensure long-term sustainability. To put it succinctly, this step will help support the growth and security of ZIGChain as it makes a crucial transition. The upgrade will further position $ZIG at the center of a thriving blockchain ecosystem, which in turn will bolster its value.
The proposal to increase the supply was introduced in light of several factors limiting Zignaly’s growth. These include the vast majority of the total token supply already circulating in the market and the absence of organized actors within the Zignaly ecosystem dedicated solely to nurturing its development.
Against this challenging backdrop, the proposal was introduced to upgrade the tokenomics, which will bring more funds into the ecosystem and put the ZIGChain Foundation in a position to drive the project forward.
As per Zignaly, “This is the correct path forward to ensure the long-term success of ZIGChain and create huge value for all stakeholders in our ecosystem.”
To help the Foundation get started, Zignaly founders have donated a whopping 100 million $ZIG tokens, showcasing their commitment to the project. The donation effectively makes the Foundation the largest entity to hold $ZIG tokens and contributes to ZIGChain’s decentralization.
This development comes at a time when the project is preparing for the mainnet launch of its own blockchain called ZIGChain, which will also mark $ZIG’s transition from an ERC-20 token to a native blockchain token. Together, these latest efforts will help ZIGChain evolve into a “robust, sustainable, and truly decentralized ecosystem poised for long-term success.”
A Strategic Plan to Boost the ZIGChain Ecosystem
Now, the 25% increase in the $ZIG supply will be distributed mainly in two ways. A big chunk of it, 75% or 375 million $ZIG tokens, will be allotted to the ZIGChain Foundation and used to offer stake subsidies and help the ecosystem develop.
ZIGChain Foundation is an independent entity that has been established to guide the development and growth of the ZIGChain ecosystem. Through its continuous efforts, the Foundation will facilitate partnerships to expand the project’s reach and ensure that proper and decentralization decision-making processes are being followed. It will also be responsible for overseeing the implementation of initiatives and maintaining Ziganly’s regulatory compliance across jurisdictions.
Now, the funds will be allocated to the Foundation in such a way that the entire Zignaly ecosystem thrives in the long-term. This will be achieved through developer programs, user acquisition strategies, a validator program, and marketing efforts.
The remaining 25% supply (125 million $ZIG tokens) will be used to reward the loyal community members for their support via pre-mainnet staking opportunities. It is a great chance for crypto enthusiasts and Ziganly members to enjoy attractive rewards, which will only be available for a limited time before ZIGChain’s mainnet goes live in the near future.
Essentially a once-in-a-lifetime opportunity, stakers can accumulate rewards at high APY and, at the same time, support the Zignaly ecosystem while benefiting from the growth of the network. This pre-mainnet staking opportunity from Zignaly is a strategic initiative to boost value distribution, active participation, and community engagement.
The staking opportunity will be introduced in two phases so as to adapt to market conditions and community needs. In the first phase, which will soon be launched since the proposal has been approved, 60 million tokens will be distributed. The second phase will disburse the remaining $ZIG tokens before ZIGChain’s testnet launch.
Overall, with the tokenomics upgrade, the Zignaly team aims to ensure long-term sustainability and value creation for all the stakeholders in the ecosystem.