ZennChain, a blockchain specifically dedicated to decentralized financial (DEFI) applications and non-fungible tokens (NFTs).

Hello my dear friends. Really I am very happy to welcome all of you on my blog. And today I’m going to introduce you to a project called Zenchain Protocol a project that has real uses.
I hope that in this article I have been able to share with you the essence of this project. So, let’s get started!

Introduce

Since the beginning of 2020 the DeFi Industry has been growing very actively based on the Binance Smart Chain blockchain and new projects appear here almost every day. Decentralized Finance (DeFi) offers a way to start with a new system, avoiding the difficulties faced in changing the financial industry.

As you may know, there are now only a large number of DeFi projects released on the Binance Smart Chain blockchain. Since this blockchain has instant transactions and is very cheap, these projects were also launched with the support of BINANCE LAUNCH PAD. Which therefore inspires trust among crypto enthusiasts.

About the Zenchain Protocol
Zenchain Foundation is a large company that is developing the ZenChain project, a blockchain specifically dedicated to decentralized financial applications (DEFI) and token non-exchange (NFT).. ZenChain focuses on blockchain functionality and also this project dedicates it specifically to DEFI and NFT, ZenChain has also provided unmatched high transaction throughput by reducing the risk of error and has also developed special smart features in financial service fulfillment for exchangeable tokens and non-exchangeable tokens. (NFT) on the blockchain.

Unlike ordinary cryptocurrencies, NFTs aren’t directly interchangeable with each other . in the absence of two identical NFTs — even those on the same platform, game or collection. Each ticket contains specific information including the name of the customer , the date of the event and therefore the venue. Because this data will make festival tickets impossible to trade with each other.

The ZenChain project approaches decentralized finance as a selected and important segment of the blockchain community. The ZenChain platform is a special blockchain that has been specially optimized for DeFi and NFT applications. ZenChan contains all DeFi core apps built in the core of the chain, not written by smart contracts like swaps, loans and insurance dapps. ZenChain also contains all supported applications for NFTs like printing, auction and trading. And what’s special is, with ZenChain, your NFT can use it as collateral at Defi to make loans or stake in the pool to get extra tokens. This is a technology that is very rarely found in today’s crypto world.

Features
Web compatibility3
High throughput via Tendermint Core
Horizontal scalability via IBC
Fast transaction finality

The specialty of the ZenChain project is that it has full cross-chain NFT and Defi support. ZenChain also allows NFT owners to get stronger with their NFT, uncollectible, users can also stake their NFT as collateral in the loan & borrow application from some equivalent tokens such as ERC20, BEP20, TRC20 …

Zen token
ZEN is a utility token that powers the Zenchain Protocol and there is no tax on user transactions. ZEN tokens can be used to manage various ZenChain components including timed protocols, exchange parameters, and protocol enhancements via the DAO structure.

Token details

Token Name ZEN
Token type BEP20 & ERC20
Issuance price TBA
Total Token Supply 100,000,000 ZEN
Initial circ supply 1,200,000 ZEN
Initial market cap of $ 360,000
Unsold / Unused token Burn

Token allocation

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

Milestones

2021 Q2

• Release of public Testnet V1.
• Launch of BIP-20 token.
• Release blockchain explorer
• Implementation of bridges to Ethereum, Tron, Binance SmartChain on Testnet
• Release of Incentivized Staking Competition and bridge.
• Release NFT mint, auction, rent application Testnet
• Release Dex Testnet
• Release Lend and borrow Testnet

2021 Q3

• Launch of Mainnet V1.
• Swapping of the token, from BIP-20 to native chain.
• Implementation of bridges to Polkadot on Testnet
• Implementation of bridges to multiple blockchain networks main net
• Release NFT mint, auction, rent application Mainnet
• Adding staking incentives.

2021 Q4

• Release Dex Mainnet
• Release Lend and borrow Mainnet
• Adding liquidity mining (Dex, Lending) incentives.

2022 Q1

• Launch of cross-chain yield generation.

Conclusion

In my opinion, the Zenchain Protocol project looks quite promising, because it has such a great team

If you also want to join the Zenchain Protocol and become one of the users of the services of this project, as usual, you can find more detailed information about them on the official website using the link in the description

Thank you for your attention!

Website: https://zenchain.co
Facebook: https://www.facebook.com/Zenchainofficial
Telegram Channel: https://t.me/Zenchainofficial
Twitter: https://twitter.com/zenchainco
Medium: https://medium.com/zenchain-protocol
Lite paper: https://docs.zenchain.co/

Author

Forum Username: olitaptapan
Forum Profile link: https://bitcointalk.org/index.php?action=profile;u=1566451
wallet address: 0x4832C1D8352841b26577695dEc7B741187D5d1fA
Telegram username: @Arma30f