ZetaChain Token Utility and Update on Rewards
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ZetaChain’s mission is to serve as a platform for universal access, simplicity, and utility across any blockchain. An important part of this mission is designing a ZETA token model for decentralization and growth of real usage and utility of the omnichain network. This includes continued delegation of resources to incentivize and bootstrap ZetaChain’s 1 million+ user base. With today’s public release of the ZetaChain token distribution, we are also announcing that 10% of the total ZETA supply is reserved for community rewards.
ZETA Token Utility
The updated ZETA token distribution page is live in the ZetaDocs. At a high level, ZETA is designed as a utility token and native currency for the ZetaChain network. In addition to an omnichain token that can be transferred across connected chains and to ZetaChain, ZETA is used for securing the Proof of Stake network, zEVM transaction fees, cross-chain transaction gas fees, and governance.
Learn more about how ZETA works and functions across the protocol in the ZetaDocs here.
Update on Community Rewards
10% of the total token supply or 210,000,000 ZETA is reserved for
User Growth Pool where ZetaChain community members may earn tokens by developing and contributing to the network.
Learn more about the current state of reward programs and what to expect on the day 1 mainnet launch below.
31,500,000 ZETA is allocated to users who earned ZETA Points on ZetaLabs testnet from inception to August 20th, 2023. Learn how to claim rewards on day 1 in ZetaHub and more about this program in our writeup and sybil analysis by SocialScan.
Key Community Contributors
A portion of the 1.5% ZETA is allocated to key community members who consistently contributed to the growth and development of ZetaChain during its testnet phases. Key members include but are not limited to Ambassadors, the Protectorate (server mods), and VIPs.
Participants in Quest Campaigns
Both wallet partner campaigns and social quests will launch throughout the span of mainnet.
4,800,000 ZETA rewards are committed to various ecosystem app wallet campaigns such as OKX Cryptopedia (Season 1 & Season 2), Bitget Wallet, TokenPocket, and XDEFI. Please visit each campaign link for cutoff dates and updates on these separate reward distributions. More wallet and growth campaigns focused on user education and experience of ZetaChain will be announced during mainnet.
Social Quest Campaigns
Both existing and future mainnet social activations will be considered factors. Any remaining, open quests on the Mission Bring ZETA Home NFT campaign will officially close soon after Galxe completes the ZetaChain mainnet integration. Related programs part of this foundational Galxe campaign include factors such as OATs, Discord roles, Zealy Contributors, ZetaNites Guild Members, and more. Additional social quests on mainnet will be announced.
After the launch of the mainnet network, all core features of ZetaChain will be available. ZetaHub will also serve as a place to explore the entire app ecosystem and an interface to track meaningful usage of the network and apps. See Preparing for ZetaChain 1.0 for a sneak peek of ZetaHub.
The ZetaChain Launch Campaign
ZetaHub will release on the mainnet network and include the launch of the XP program, where users earn XP and level-up based on pure on-chain activity. The first XP program will last 30 days. Additional details will be announced.
All active supporters after August 20th, 2023 and participating users in any partner campaigns will get a head start in the first XP program.
ZetaChain is a simple, fast, and secure omnichain blockchain. A pioneer implementing the concept of chain abstraction, ZetaChain serves as the base-layer of the decentralized internet. With ZetaChain’s Omnichain Smart Contracts, developers can build truly interoperable dApps that span multiple chains from any existing blockchain from Ethereum to Bitcoin and beyond. Access all of crypto from any chain, including new blockchain innovations into the future. ZetaChain’s mission is to build a platform for global access, simplicity, and utility across any blockchain.
Any projects mentioned are 3rd party, not ZetaChain.
Disclaimer: The above details are the current thinking and models with regard to ZetaChain and ZETA. They are subject to variations for the ZetaChain mainnet and further developments thereafter.
ZetaHub introduces XP for dApps
The ZetaHub release introduces the first eligible ZetaChain apps for XP. Get started now!
January 2024: The Arrival of ZetaChain Mainnet Beta!
ZetaChain Mainnet Beta sees more than 900,000 users and 8 million transactions in the first week after launch. We’ll see you at ETH Denver very soon for ZetaChain’s Omnichain Day!