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April 25, 2024

ZetaChain Allocates 5% Of Total Token Supply For Ecosystem Growth, Reserves 1% For Bitcoin Projects

In Brief

ZetaChain launches ecosystem program designed to boost the development of dApps and protocols operating on its blockchain.

ZetaChain Allocates 5% Of Total Token Supply For Ecosystem Growth, Reserves 1% For Bitcoin Projects

Layer 1 blockchain and interoperational platform ZetaChain announced the launch of a comprehensive ecosystem program designed to boost and expedite the development of decentralized applications (dApps) and protocols operating on the ZetaChain blockchain.

ZetaChain operates as an omnichain blockchain, employing the principle of chain abstraction to function as the foundational layer of the decentralized internet.

As part of its initiative, ZetaChain intends to reserve 5% of the entire ZETA token supply for the most promising and impactful projects developed on the ZetaChain blockchain. Within this allocation, 1%, equivalent to 21 million ZETA tokens, will be specifically designated for projects focusing on Bitcoin integration.

This marks the initial distribution from the 12% allocation of the total ZETA token supply designated for the Ecosystem Growth Fund, as outlined in the project’s ZETA Token Distribution plan. The distribution of these tokens will occur gradually over the next 3 to 4 years.

Moreover, through the program, assistance will be extended in the form of grants, incentives, and community initiatives to aid in the creation of products, services, and solutions that utilize the capabilities offered by ZetaChain’s integration with Bitcoin.

Focusing On Infrastructure, DeFi, Gaming And Social Apps

The newly introduced growth initiative for Bitcoin projects will concentrate on three key areas. These include Bitcoin infrastructure, which involves improving the underlying infrastructure for BTC-related applications via the OP_RETURN support for BTC wallets, infrastructure to facilitate BTC restaking, APIs, user interfaces (UIs), and cross-chain transaction indexers.

Another area involves Bitcoin decentralized finance (DeFi). ZetaChain’s objective is to nurture a comprehensive range of BTC-centric DeFi offerings, including lending and borrowing platforms, decentralized exchanges (DEXs), perpetual contract aggregators, money markets, and collateralized debt position (CDP) solutions.

Additional focus area is Bitcoin games and social networking, which centers on integrating Bitcoin into gaming and social networking platforms to enable players to earn native BTC as rewards in games and foster the development of BTC-centric social networks supported by gas grants.

The program focuses on DeFi protocols building on ZetaChain, offering support such as liquidity provision and trading incentives aimed at encouraging education, efficiency, and increased application usage overall. The BTC Ecosystem Growth Program is presently open and accepts applications.

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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.

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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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