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New Listings: gZIL and ZWAP
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We are thrilled to announce the listing of two tokens in the Zilliqa ecosystem, the governance ZIL (gZIL) and ZILSwap (ZWAP) token on Liquid.
Good news! From 17th of September, 2021 - 1st of October, 2021 we offer 0 fees for trading gZIL and ZWAP pairs on Liquid.
What is GZIL?
The governance ZIL token is the governance token of the Zilliqa network. gZIL enables holders to create governance proposals on the Zilliqa governance platform and vote on proposals that will impact the Zilliqa network. gZIL essentially empowers holders to make decisions that impact the Zilliqa blockchain. Further functionalities such as staking to earn fees made from a DAO (IgniteDAO) within the Zilliqa ecosystem and using it as collateral for Pillar protocol, an algorithmic stablecoin protocol will be available to holders in the near future.
gZIL is launched as part of Zilliqa’s non-custodial staking services on mainnet. The only way to earn gZIL is through the staking of ZIL, rewarding long-term holders of ZIL and giving them a stake in decision-making for the Zilliqa network. gZIL is capped at a supply of 682,550 and was only issued as staking rewards for a year. Stakers of ZIL are rewarded gZIL as part of the staking rewards from October 2020 to October 2021. This scarcity helps the token accrue and derive additional value.
What is ZWAP?
ZWAP is the governance token of the premier Zilliqa Decentralised Exchange(DEX), ZilSwap. The ZWAP token is a ZRC-2 token that empowers its holders to participate in governance-related decisions for the DEX. ZWAP can be earned as a reward by providing liquidity in the DEX. Users in the Zilliqa Ecosystem.
ZWAP is also used for participating in Zilliqa Initial Launch Offerings (ZILO), a platform for projects to raise funds from token sales. Users participating in ZILO will require a commitment of both ZIL and ZWAP in a 70-30 ratio to purchase the tokens being offered. ZWAP committed during ZILO is burnt, helping it to accrue value by increasing its scarcity. To date, there have been 3 ZILOs and all of these ZILOs were oversubscribed. A total of approximately 13 million USD has been raised in the ZILOs combined.
How can I buy gZIL and ZWAP?
gZIL and ZWAP are now available to trade on Liquid. Currently, the available trading pairs are gZIL/BTC, gZIL/USDT, ZWAP/BTC, and ZWAP/USDT.