Jon Bryn
The overview
Last month Zilliqa debuted the Zilswap decentralized exchange, to compete with Uniswap and other automated market makers (amm). The tokens on the ZIL network are known as ZRC2, and until now Zilswap was the only amm available to Zilliqa users. This is where Zyro.Finance comes into play, a new protocol for providing automatic liquidity.
The Zyro token has been proposed to be the native token of the amm and will confer the standard defi governance benefits on the network that we have all come to know and, mostly, love.
How the Zyro token will be distributed
The total supply of Zyro’s native token ZYRO is 300 million and 75% of the total supply will be allocated to mining/farming. The team will be given 10% of the total supply. These tokens will be locked for 12 months, then slowly unlock over the following three years.
The Zilliqa Foundation will also be allocated 10% of the total supply, an unlocked 3% of which will be used for marketing, ecosystem building, and airdrops, while the remaining 7% will be the Foundation’s reserve fund that will slowly come available over 4 years.
The remaining 5% will be allocated to two separate private sales that will keep some of the funds locked until after the Zyro token’s first exchange listing, and then slowly release them over a period of 3-6 months. By forcing these token locks Zilliqa and Zyro are attempting to get long term investment into the ecosystem as well as prevent any large token dumps by investors as soon as the exchange goes online.
The expectation is that zyro.finance will go live in Q4 of 2020 so we may see the launch of this new defi platform very soon.
