Zilliqa launched its governance asset gZIL to allow long-term token holders to take part in the Zilliqa ecosystem. We’re happy to announce that CEX.IO is the first crypto exchange platform that supports gZIL trading!
Starting December 15 you can deposit, withdraw, exchange, and trade gZIL/USDT and gZIL/USD pairs on the CEX.IO website and CEX.IO mobile app.
CEX.IO is an exclusive place where you can exchange gZIL for USD and USDT. Moreover, we pay you for adding liquidity to our markets. The maker fee for gZIL/USDT pair is negative (-0,05%)! You’ll get the 0,05% of your order amount back to your CEX.IO balance.
📌 About ZIL and Governance ZIL (gZIL) token
Zilliqa is the first public blockchain platform to successfully use sharding as a scaling solution. Previously, when listing ZIL token we’ve told about the project in our blog post: https://blog.cex.io/news/cex-io-to-list-zilliqa-22641
Government ZIL (gZIL) is ZRC-2 compliant token. Users can earn the new token alongside ZIL staking rewards (0.001 gZIL per 1 ZIL reward earned). The main idea of gZIL tokens is to attract long-term token holders and give them access to network governance.
Currently, at CEX.IO, ZIL holders receive staking rewards in ZIL tokens only. However, we’re looking into the possibility to enable staking rewards in gZIL too. When that happens, we’ll make an announcement on our social media channels.
📌 Use cases for gZIL
According to the team behind Zilliqa, there will be a DAO-like structure through which gZIL holders can invest in community projects. Together with Zilliqa Research, the community holding gZILs will be able to vote on proposals and take part in making decisions.
gZIL holders can also contribute to Zilliqa liquidity pools and get rewarded.
The Government ZIL was released since the launch of the non-custodial ZIL staking (October 14, 2020), but only for 1 year. In addition, the maximum gZIL supply is limited to 722,700. The team hopes to drive the gZIL value by creating scarcity and stimulate early user engagement in the staking program.
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Note: gZIL is currently unavailable for US residents.
Disclaimer: The above content is for informational purposes only. You should not construe any such information or other materials as legal, tax, investment, financial, or other advice. Please study assets on your own before making any investment or trading decisions.