Introducing ZinaX 3.0
What is the next phase of ZinaX
In the last few days, the ZinaX community has been inundated with talks of ZinaX 3.0. This begs the question, what exactly is ZinaX 3.0? Below I explain this, I would start by telling you what ZinaX stands for:
What is ZinaX?
ZinaX is a high yield savings and investment platform, built on the blockchain. ZinaX enables you save money in crypto assets. These savings and investment options enable you to earn passive income from dividends and interest.
ZinaX was built by Zinari Finance, but currently operates as a Decentralized Autonomous Organization (DAO).
ZinaX currently provides the following:
High Yield Staking Pools
High Yield Farms
Over $200k in value has been staked on the ZinaX platform since it launched in January, 2022.
Why ZinaX 3.0
The crypto space is constantly changing, and projects that do not innovate, become irrelevant. In the last few weeks, we have seen top DeFi projects crash, founders exit and prices dip.
Big Projects that have seen 90% dips in the last 12 months include:
Memepad
Olympus DAO
Pancakeswap
Dodo
Balancer
BSCPad and about 85% of all DeFi tokens.
This means that for DeFi projects to be sustainable and provide long term yield to investors, projects have to innovate and invest in the latest technologies.
We spent the whole of March, researching on the industry and figuring out the reason for the huge decline in DeFi token prices. Following our research, we figured out the following:
Binance Smartchain is beginning to see a huge decline in volume. The daily transaction volume has seen a steady decline in the last 6 month.
Also, it’s lack of a viable NFT strategy has seen it lose out the most on the new metaverse rush. Most projects that are solely on Binance Smartchain have been hit the most.Staking and Farming is no longer enough to drive more users to a project. The space is now extremely competitive.
Staking platforms need to become more user friendly and less technical. To attract more users, defi projects might need to build UX that resonates with the less technical users.
NFTs are the next rave on the blockchain. More money is pumping to NFTs, than to DeFi projects.
These are some of the causes of the decline in prices of DeFi tokens.
What is ZinaX 3.0?
ZinaX 3.0 is a rethink of what ZinaX stands for. It is a rethink of the core business model, governance pattern, unique selling point and key performance metrics.
We have rethought what our core product is, what we want to put forward and what we want people to know us for.
We have also had a rethink on the governance of ZinaX, the reward system and the taxation system.
We have come up with a brand new vision, based on our research. This time around, we believe that we have gotten it right, and that this would be the catalyst for faster growth of the project.
Below are the structural changes coming to Zinax:
ZinaX would become a full fledged DAO in the latest update. Hodlers would get a seat at the board, and get access to voting.
ZinaX would become an NFT first platform. Our core focus would be on asset backed NFTs, and less on staking
ZinaX would be going multi-chain. This means we would have access to a new ecosystem, support and a larger community to shill to.
The ZinaX platform would be monetized, so as to generating revenue for buyback and liquidity. Monetization would come in form of deposit fees for staking Stablecoins and NFTs.
What Products Should We Expect
ZinaX 3.0 would be releasing the following before Q4, 2022:
A mobile app
An NFT Marketplace
Stablecoin Staking Pools
NFT Staking Pools
NFT Backed Loans
Treasury
There would also be an update to our whitepaper on the 1st of April, 2022, as well as a team video giving a full breakdown of what version 3.0 is really going to be about.
In the meantime, keep staking and farming ZinaX. We are all going to make it(WAGMI).