Presentation of the Zenchain Protocol project

About

Being a crypto market participant for a while I realize that the cryptocurrency market is growing rapidly. It’s like a 12 year old cult in the financial markets and has been driving investors crazy lately with the participation of Elon Musk, Mark Zuckerberg and many other big investment funds. Market capitalization in just 1 year has increased many times . Besides, it is impossible not to mention the limitations. With the number of participants rapidly increasing, the transaction speed of popular coins like Defi is facing some limitations. Because 90% of Defi projects run on the ETH blockchain, the transaction processing speed is slow, investors have to pay more for a transaction, etc. Because of not accepting this weakness of the market Zenchain was built Built to handle these downsides of the crypto market makes for a great combination of Defi and NFT.

Zenchain Protocol Solution

ZenChain approaches decentralized finance as a chosen and important segment of the blockchain community. ZenChain can be a dedicated blockchain specially optimized for DeFi and NFT applications. ZenChan contains all core DeFi applications built into the core of the chain, not written by smart contracts like swaps, loans, and insurance dapps. ZenChain also contains all supported applications for NFT such as minting, auctions and trading. and especially, with ZenChain, your NFT can use it as collateral in Defi to create a loan or support a team to earn more tokens. NFT holders who are using the platform can do cross-chain transactions and can use their NFT as collateral to get loans which they can further use to gain access to more DeFi applications and protocols. That allows even small merchants and investors to explore the whole DeFi world as they can make money by offering their NFTs as collateral and also have the option that they can rent out NFT because there are many game weapons and pets required now and users/players instead of buying them prefer to rent them for a certain period of time and then return them with small interest.

ZenChain gives some solution to resolve this problem:

  • Scalable, high-throughput Blockchain with Tendermint Power
  • Bridge from Etherum, Tron, Binance smart chain make cross-chain Defi and NFTs solutions.
  • Decentralized pricing oracles built-in
  • DeFi primitives built-in: Dex, Lending & Borrowing, token IDO, insurance.
  • Non-fungible Token applications like a mint, auction, rent NFTs
  • NFTs X DEFI: bring the power of NFTs to Defi ecosystem and Defi to NFTs.

Cross-chain solutions

ZenChain is two types of solution to allow token transfer across exits public blockchain:
Bridge solution: Two way connect between ZenChain and Etherum, Polkadot, Binance SmartChain, Tron .. and more chain with ZenBridge module
IBC solution: Two-way connect between ZenChain and Cosmos family blockchain using Inter-blockchain Communication protocols.

Existing Problem in DeFi Sphere and the Solution offered by ZenChain

(a) SCALABILITY

Scalability is one of the major challenges faced in DeFi space , all these problems makes DeFi not attractive to users. Transactions cost is very expensive and making it unattractive for small scale investors. Another aspects of the problem is the long waiting time it takes to verify and complete a single transaction. All these problems motivated the team of ZenChain to develop a bridge solution, a cross chain platform where users will be able to transact with ease and high profitability.

(b) Smart Contract Vulnerability : There rate which smart contracts are being manipulated is alarming . Some project implements a poorly written smart contract filled with bugs. The attackers / hackers explore these vulnerabilities and steal some large sum of funds from the project , hence rendering the platform useless. ZenChain uses advanced technology and incorporate a well written smart contracts free of bugs

© Insurance : Most of these DeFi platform does not have any insurance to protect their users against any form of unforseen event that could lead to loss of funds .ZenChain as a very advance DeFi platform will ensure users are insured by partnering with relevant insurance institution that will cover them .

(d) Interoperability : Interoperability among different blockchain is one of the vital feature required for smooth operation of DeFi . When this is lacking , users will be limited ,hence preventing interactions amongs all these chains. ZenChain will provide a bridge for varieties of blockchain network such as Ethereum, BSC , tron. It will further create the possibility of cross Chain DeFi and NFTs .

ZEN Token

ZenChain Token IDO is a decentralized incubator that helps promising projects reach their full potential by leveraging the investing power and renowned potential of our community. We aim to democratize access to investment opportunities that were previously only available to skilled investors and venture funds, opening a closed ecosystem of cash project investments. first stage electronics. the start for everybody .

The platform allows crypto projects to boost capital by fixing a swap pool supported a hard and fast rate of token purchase. This so-called “Fixed Swap Pool” has many advantages for investors selling tokens compared to traditional fundraising models like ICOs, IEOs, and IDOs (Initial DEX Offerings). The fixed swap pool will maintain the token price throughout the sale until the initial supply is purchased. With ZenChain Token IDO, decentralized projects are going to be ready to raise and exchange capital cheaply and quickly. Users are going to be ready to participate during a safe and compliant environment and consider content far beyond the present ERC20 .

Token allocation

Token Name

ZEN

Public IDO : 5% of the total token supply

Early Contributors : 8% of the total token supply

Strategic Partners : 20% of the total token supply

Team : 5% of the total token supply

Advisors : 2% of the total token supply

Ecosystem Development : 33% of the total token supply

Community Growth : 10% of the total token supply

Liquidity and Staking : 17% of the total token supply

Token details

For more details, please visit the link below:

Web: https://zenchain.co/

Facebook: https://www.facebook.com/Zenchainofficial

Telegram Channel: https://t.me/Zenchainofficial

Twitter: https://twitter.com/zenchainco

Github: https://github.com/zenchainprotocol

Author :

AvniDotsona

#Zenchain #Zen #NFT #Defi #Blockchain #IDO

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