In our commitment to continually broaden our offerings, we are introducing a new project addition - ZetaChain.
ZetaChain (ZETA) is a pioneering blockchain platform that simplifies access to the vast cryptocurrency ecosystem and protocols. It serves as a unified gateway, offering seamless interoperability across multiple blockchains, including Ethereum, Bitcoin, and beyond.
Through its omnichannel architecture, ZetaChain enables users and developers to interact with various cryptocurrencies and decentralized applications from a single platform, streamlining transactions and future-proofing applications. With a focus on security, ZetaChain minimizes risks for assets by implementing a robust trust model and a decentralized proof-of-stake network.
In this comprehensive article, we will delve into the intricacies of the ZETA project, exploring its token, its underlying mechanisms, and the steps involved in purchasing ZETA.
Overview of ZETA
ZETA acts as a bridge, connecting different chains like Ethereum and Bitcoin, and even non-smart contract chains such as Dogecoin.
For developers, ZETA offers a streamlined approach. Instead of worrying about compatibility issues or managing multiple wallets, they can focus on building innovative applications that work across various chains. ZETA's Omnichain Smart Contracts allow developers to deploy code once, ensuring their applications remain functional and adaptable to future blockchain developments.
This initiative also simplifies the user experience. With just one entry point, users can access and manage all their assets, data, and interactions within the crypto ecosystem. No more juggling multiple wallets or struggling with complex processes to switch networks.
Application/Utilities of ZETA
Simplicity, Speed, and Security: ZETA offers a variety of benefits: simplicity, speed, and security. For developers, it's a dream come true. Instead of worrying about compatibility across different blockchains, they can focus on building amazing apps that work seamlessly on any chain.
Incentivization and Security: ZETA serves as the backbone for incentivizing validators within the ZetaChain network. Validators play a crucial role in securing the network through the Proof-of-Stake mechanism. They are rewarded with ZETA tokens for their participation, ensuring the integrity and stability of the platform.
Transaction Fees: Whenever transactions occur on ZetaChain, whether it's sending assets or executing smart contracts, transaction fees are paid in ZETA. These fees are then distributed among validators, delegators, and other participants in the network.
Cross-Chain Messaging: ZETA also facilitates seamless value transfer between connected chains through cross-chain messaging. When assets are sent from one blockchain to another via ZetaChain, ZETA tokens are burned on the source chain and minted on the destination chain. This ensures a smooth and efficient transfer of value across different blockchains without the need for creating new wrapped assets.
Core Liquidity Pools: ZETA plays a pivotal role in ZetaChain's liquidity ecosystem. Core Liquidity Pools, comprised of ZETA and other external chain assets, enable users to transact on ZetaChain and across connected chains. Liquidity providers are incentivized with trading fees and other rewards for contributing to these pools, thereby enhancing the liquidity and usability of the platform.
Tokenomics
The ZETA token has a total supply of 2.1 billion tokens. After four years, a controlled inflation of roughly 2.5% per year is planned to ensure the network's long-term health. Here's a breakdown of how the initial supply is strategically distributed to fuel various aspects of the ZetaChain ecosystem:
User Growth Pool (10%): This pool fuels initiatives like airdrops and community rewards.
Ecosystem Growth Fund (12%): This fund provides resources for partners and developers building decentralized applications (dApps) on the platform.
Validator Incentives (10%): This allocation goes towards rewarding validators who secure the network. Initially, block rewards are distributed, but after a set period, the system will transition to an inflation-based system to maintain network security.
Liquidity Incentives (5.5%): This pool incentivizes liquidity in core ZRC-20 pools. By encouraging liquidity, this allocation ensures smooth and efficient value transfers within the ZetaChain ecosystem.
Protocol Treasury (24%): This serves as a reserve for funding ongoing operations, future development efforts, and enhancements to the ZetaChain ecosystem.
Core Contributors & Advisors (22.5%) & Purchasers (16%): These allocations reward those who have significantly contributed to ZetaChain's development and initial growth, including core team members, advisors, and early token purchasers.
This strategic distribution plan aims to ensure the long-term sustainability and growth of the entire ZetaChain ecosystem, with each pool playing a vital role in its success.
Where and How to Buy ZETA?
CoinEx is a globally recognized cryptocurrency exchange known for its diverse range of products. With a focus on quality, speed, and comprehensiveness, the exchange has over 1000 tokens and more than 1,400 trading pairs on the list, attracting over 5 million users across 200 countries and regions. ZETA was listed on CoinEx on February 1, 2024, at an initial price of $0.7947, marking an impressive price change of +20.66% in the past 30 days.
To purchase ZETA tokens on CoinEx, follow the steps below.
- Create an account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to ZETA Trading Page: Once your account is funded, go to the dedicated ZETA trading page on CoinEx. You can find a search box and enter the term ZETA to swiftly locate the trading pair associated with ZETA tokens.
- Choose a Trading Pair: Select the trading pair ZETA/USDT if you'd like to trade ZETA against USDT (Tether).
- Specify the Purchase Amount: Determine the quantity of ZETA tokens you want to purchase. Input the amount into the trading interface, which will calculate the corresponding cost based on the current market price.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if satisfied, submit the order.
By following these comprehensive steps, you can easily trade ZETA tokens on CoinEx, taking advantage of the available trading pairs.
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