The Dawn of a New Era for ZinaX
Official Communication on the ZinaX 3.0 Launch
Everything You Need to know about ZinaX 3.0
Today, we announced the upcoming release of our new upgrade, ZinaX 3.0. In this article, we seek to explain in detail what ZinaX 3.0 is going to look like.
What is ZinaX 3.0?
ZinaX 3.0 is a high yield savings and investment bank, built on the blockchain. The core aim is to open up the ZinaX platform to the entire crypto community, and enable more people save in crypto.
With ZinaX 3.0, we hope to attract hodlers of more cryptoassets, and get more people farming and staking on our interface. We want to make ZinaX to be beyond staking only ZinaX or Zinari, but to staking all major tokens and earning rewards.
ZinaX 3.0 is also the official independence of ZinaX DAO, from the Zinari Finance Management. Under the new arrangement, ZinaX would be officially run as a DAO and would be registered as a separate company from Zinari Finance.
Zinari Finance would still help with the technology development and strategy, but under the supervision of the ZinaX Committee.
What can I stake on ZinaX 3.0?
With ZinaX 3.0, you would be able to stake:
Bitcoin
Ethereum
Binance Smartchain
Matic
USDT
Solana
USDC
ZinaX
Zinar NFTs
ZinaX/BNB LP
Zina/BNB LP
Zinari
Other pools would be available for staking later on.
How Would ZinaX Generate Money from This?
In the past, we have seen ZinaX token price depreciate due to people harvesting and selling ZinaX.
With the new upgrade, ZinaX would monetize staking. This would enable us raise funds for liquidity, buyback and project development.
Here is a list of fees for each staking pool
What would the Staking revenue be used for?
ZinaX would use the revenue raised from staking for:
Buying Back ZinaX
Adding Liquidity
Project Development
ZinaX V3 Token Information
ZinaX would be migrating to a new token contract. This new contract would power the new ZinaX.
Here are the specifications of ZinaX 3.0
Name: ZinaX DAO
Symbol: ZINAX
Max Supply: 50M
Initial Mint: 30M
Mint Per year: 2M
Tax: 20% sell tax, 0% buy tax, 5% transfers tax
AntiWhale: Maximum transfer of 50,000 tokens per transaction
Old Holders Migration
All existing ZinaX holders would be migrated, on the date of the snapshot. The snapshot would be taken on two days:
17th April, 2022: All existing tokens would be migrated at 1:1. Only tokens held in wallet would be snapped. Endeavour to unstake all tokens, unpair your LP and hold the tokens in your wallet by this date.
24th April, 2022: All tokens migrated by this date would be swapped at 2:1.
Unclaimed Tokens
All unclaimed tokens from old holders would be migrated at 1:1, including leftover tokens from the SeedSale.
Token Distribution
All migrated token owners would be given a dummy token to hold, on the 1st of May, 2022.
The dummy tokens would be the equivalent of their yet to be claimed tokens. These dummy tokens would be staked on a pool with similar rewards to ZinaX staking and users would be able to harvest rewards.
After 1 year period, users would begin receiving the original zinax tokens at 7.5% every 3 months, for a 4 year period.
Full list of old holders and their allocation would be released on the 25th of April, 2022.
Below is a spreadsheet showing how Users could claim migrated tokens:
Introducing Zinar
Zinar is the NFT platform for ZinaX DAO. Recently, we acquired Zinar.io to enable us pursue an NFT first policy.
Zinar is a treasury service for asset backed NFTs. It enables users buy or create NFT that are backed by real life assets. On the Zinar platform, NFTs are receipts that show asset ownership. By buying an NFT on the Zinar Platform, users are buying the blockchain receipt of a real life asset.
The following assets can used to back NFTs on the Zinar Treasury:
Precious Metals
Real Estate
Intellectual Property
Luxury Goods
Tokenized Equity
Other real life collectibles
What can I do on the Zinar?
Users would be able to carry out the following transactions on the Zinar platform:
Create asset backed NFTs
Buy and sell asset backed NFTs
Borrow instant loans using the NFTs as collateral
Promote their NFTs
The Zinar NFT Collection
The Zinar NFT collection is a gold backed NFT collection that serves as an NFT Currency. The NFT comes in 5 denominations, which represent a certain value.
Each NFT is backed by an equivalent amount in digital gold, which is held at the Zinar treasury.
The NFTs can also be used as collateral to access instant loans from the Zinar treasury. Users can also stake the NFTs on the ZinaX platform and get instant rewards in ZinaX.
Here are the NFT specifications:
MultiChain
ZinaX would be going multi-chain. This means that the token would no longer remain solely on the Binance Smartchain network, but also on other blockchain networks.
In the coming days, we would announce which blockchain network we would be working with, when and how it would work.
ZinaX DAO; Management, Voting
As a DAO, ZinaX would allow input from members of the community. Hodlers would be able to vote on changes, tax reductions, contract migration and committee seats.
ZinaX would be run by Zinari Finance who would own 60% of equity in the new arrangement. 40% would be held by investors.
The committee would compose of the following:
3 Zinari Finance representatives (2 points per vote)
The Highest ZinaX Holder (Holdings must be staked for a year) (1 point per vote)
The Highest ZinaX LP Investor (LP Tokens must be staked for a year) (1 point per vote)
1 Top 50 ZinaX Holder (Voted by the community and holdings staked for a year) (1 point per vote)
1 Top 50 ZinaX LP Holder (Voted by community and holdings staked for a year) (1 point per vote)
Two Institutional Investors or their representatives (1 point per vote)
ZinaX Token is not equal to ZinaX Equity. ZinaX Token is a crypto asset that allows holder to partake in governance.
All Equity would be sold using start-up financing and equity crowdfunding.
Duties of the ZinaX Committee
Recruit, supervise, retain, evaluate and compensate the President
Provide direction for the organization
Establish a policy based governance system
Govern the organization and the relationship with the President
Protect the organization and it’s interests
Monitor and Control Major Decisions
The ZinaX Committee would be run using a proactive model
This model is of a proactive commitee that speaks as one voice. It speaks as one voice for the committee and often has a proactive manager that also speaks with one combined voice for the organization. This is a good model because the President and the committee are on the same page and speak with a single voice. This model is proactive in taking advantage of emerging opportunities and is especially valuable for entrepreneurial businesses.
All Committee members must purchase equity in ZinaX DAO, and pass the requirement for seat on the board.
Committee Members would also get allowances and a special token allocation for the board. This would serve as an incentive for more holders to join the board, and bring well desired governance.
Voting on the Committee would be based done using the points. In the case of a stalemate, the President would get the veto vote.
ZinaX Governance and Voting
While the committee provides governance, the ZinaX Community can also pass resolutions.
These resolutions are going to be passed on the ZinaX forum and could be a proposal to change or not change anything related to the ZinaX Smart Contract.
These include:
Taxes
Fees
Removal of elected Board Representatives
Smart Contract
Request Audits
And other smart contract related votes
Resolutions cannot be passed to change equity ownership or to overthrow non-elected committee members. However, community can pass a resolution advising the board to take action on non-elected board committee.
To pass a resolution, a holder must do the following:
Have Staked up to $50 worth of ZinaX for a year
Get the support of 1 member of the ZinaX Board
Get 1% of the ZinaX Holders to support the resolution
For a resolution to be passed into law, the resolution must:
Win 2/3 of the total votes cast
The total votes must be done by at least 7% of the total ZinaX Holders
Must be ratified by a simple majority vote on the ZinaX Board
Committee Meetings
The ZinaX Committee would sit twice a month, to decide on issues concerning the DAO. Meetings would be done virtual or physical, as the case may be.
There can also be emergency board meetings convened by the President or any committee member to discuss pressing issues.
The committee does not make hiring decisions or handle the ZinaX treasury. The operations is run by the President who would be in charge of hiring, firing and day-to-day activities.
ZinaX Mobile App
The ZinaX Mobile app is a fiat savings app. It enables users save their fiat in crypto pools. On the front end, users can deposit fiat or crypto and select any of the savings options available. Users would also have full information what these funds would be used for, and the potential interest rates. Users can be individuals, businesses, cooperatives or NGOs.
The mobile app would enable users without technical knowledge to save in our defi pools, without having to use defi pools.
Users would pay a deposit fee of 2% and a withdrawal fee of 1%. Emergency withdrawals also come with a fee of 20%. Users would also be able to borrow loans, based on their savings history.
Deposits would be in form of cash using roadside agents, fiat using bank transfers or crypto using the Zinari Payment Gateway.
Withdrawals could be in fiat(cash/bank transfer) or crypto. Users would also get cards that could be used for withdrawals at ZinaX agent stores.
Roadmap
The ZinaX roadmap is the timeline by which all changes would have been fully implemented.
We anticipate the 100% running of ZinaX by the end of Q4, 2022. Full details on the roadmap for each project would be dropped in the coming days.
ZinaX is here to stay, and to revolutionize the entire blockchain space. The aim is to build a new system of finance, that is truly decentralized.
We would be releasing more information in the coming days, as well as launching our own separate medium account.
Stay Tuned