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June 10, 2024

Unizen Allocates $50M Worth Of ZCX Tokens For BURNDROP Program Initiative

In Brief

DeFi trading platform Unizen will allocate 246 million ZCX tokens to combined burn and airdrop initiative for enhancing platform engagement.

Unizen Allocates $50M Worth Of ZCX Tokens For BURNDROP Program Initiative

Decentralized finance (DeFi) trading platform Unizen (ZCX) revealed its intention to allocate 246 million ZCX tokens, representing 36% of the circulating supply, to a combined burn and airdrop initiative. This move aims to enhance social interaction and platform engagement.

The airdrop allocation will consist of 111 million ZCX tokens, equivalent to 11.7% of the total token supply, with an estimated value of around $22 million. Meanwhile, the burn allocation will comprise 135 million ZCX tokens, making up 14.2% of the total token supply, valued at $27 million.

The BURNDROP program will be implemented in strategic phases and designed to optimize community engagement and acknowledge loyalty. Initially, Unizen will emphasize social interaction, gradually transitioning to incentivize platform activity. This phased strategy aims to enhance community engagement. In the announcement, the project highlighted that individuals will only be eligible to receive the airdrop if they are subscribed to Unizen on social media platform X and Telegram messenger.

To further improve the experience, the platform is currently building a rewarding portal that utilizes on-chain data, such as trade volume and frequency.

What Is Unizen And ZCX Token?

Unizen operates as a DEX aggregator, enabling cross-chain swaps and granting DeFi access to UTXO assets. Utilizing a trade splitting and routing algorithm, it excels in minimizing slippage and lowering gas costs compared to its competitors. By pooling together interoperability providers, Unizen provides swift and cost-effective access to liquidity throughout various blockchains, thereby ensuring favorable trading results and improving user experience.

Unizen’s token metrics incorporate deflationary mechanisms, where ZCX tokens are allocated for burning with each trade executed on the Unizen Trade Aggregator. Tokens from seed, strategic, and private sales are fully vested, while those allocated for the team and partners undergo a six-year vesting period.

The total token supply amounts to 1 billion tokens. Among these, 30% are designated for the ecosystem and reserve, while 28.5% are allocated to the foundation. Additionally, 20% of the total token supply is assigned to the core team and future hires, with 15% divided equally among partners and advisors, private sale, and seed. Finally, 6% is reserved for the strategic sale.

Recently, Unizen has collaborated with Trend Wallet to incorporate its DeFi solutions, including the Crypto Square display for enhanced user experience and Trend Dapp Store to enable seamless access to Unizen’s web application within Trend Wallet’s Dapp Store, thereby enhancing the DeFi ecosystem.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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