Zenchain in a Nutshell: The Blockchain Dedicated to DeFi Applications and NFT’s

4 min readMay 17, 2021

Zenchain Foundation is behind developing Zenchain Blockchain. They especially dedicated this blockchain for Decentralised Finance(DeFi) applications and Non-Fungible Tokens(NFT). Zenchain is determined to provide risk-free and intelligent feature development on Fungible Token and Non-Fungible Token. Let’s learn basic information on Zenchain before investing.

Chain Type

Zenchain will mainly run on the Cosmos network. To be clear, they will be multi-chain. Along with Cosmos, they will operate in Tron, Binance Smart Chain(BSC), Polkadot and Ethereum.

ZenBridge is ZenChain <-> Etherum, Polkadot, Binance smart chain, Tron, and more chain … bridge designed to run on the ZenChain focused on maximum design simplicity and efficiency. The bridge can transfer tokens (ETH, ERC20, DOT, TRX, TRC20, BEP20 … ) two-way between Ethereum, Polkadot, Binance smart chain, Tron … to a ZenChain. Bridge solution: Two way connect between ZenChain and Etherum, Polkadot, Binance SmartChain, Tron .. and more chain with ZenBridge module — **Zenchain Network**

Governance Token Details

Token Name: Zen
Token Type: BSC
Insurance Price: TBA
Total Supply: 100,000,000
Initial Supply: 1,200,000
Initial MarketCap: $360,000
Unsold/Sold Token: Burn

source: https://medium.com/zenchain-protocol/tokenomics-distribution-updated-a3debdfb016c

Tokenomics

In crypto projects, it’s important to know tokenomics as it has a great impact on price. On 14 May 2021, Zenchain updated its tokenomics.

33% of the total supply has been allocated for Ecosystem Development. 20% allocated to strategic partners. 17% has been allotted for Liquidity. 10% issued for Community Growth. The remaining amount of the supply has been allocated for Early Contributors(8%), Team(5%) and Public Ido(5%) — **Zenchain Tokenomics**

33% of the total supply has been allocated for Ecosystem Development.
20% allocated to strategic partners.
17% has been allotted for Liquidity.
10% issued for Community Growth.
The remaining amount of the supply has been allocated for Early Contributors(8%), Team(5%) and Public IDO(5%)

They have allocated 1.2 % (1.200.000 $ZEN) for Public IDO. The ZenChain public IDO will happen in Polkabridge on 18 May.

For allocations belong to Public IDO, Early Investors and Strategic Partners, if any token unsold/unused, then they will be burned. Burning tokens ensure to reduce inflation, increase value and make a profit for early birds.

Zenchain Release Schedule:

Token-lock is important not to dump token by early investors. You can check the following picture to learn about the token release schedule.

$Zen Token Use-cases

The $Zen token has real use-cases. $Zen will be used for Protocol governance, Derivative collateralization, Exchange fee value capture, staking and liquidity mining.

DeFi Issues and Zenchain’s Solution

Scalability: Zenchain aims to be scalable. So, Zenchain will be able to handle more transactions compared to Ethereum.
Bridge: Zenchain will ensure sufficient bridge from Ethereum, Binance Smart Chain etc.
Insurance: It will insure the user’s fund.
NFT as Collateral: Zenchain will use NFT’s as collateral.

Features to Check:

Let’s look into deep to discover its unique features.

Highly Scalability will ensure faster transaction, low fees.
Its Cross-chain solution will attract other blockchain users.
NFT’s can be set for mint, auction or rent.
Built-in DeFi services- Dex, Insurance, Lending & Borrowing, IDO etc.
A powerful environment will be stigated by NFT & DeFi.

Team

Investigating team members is very important before investing. You should never invest blindly. A doxxed and professional team leads the Zenchain Ecosystem.

Crypto Revolution has been accompanying together with dozens of projects such as Equalizer, Revomon, AIOZ Finance, Standard Protocol, Collateral, FalconSwap, Convergence Protocol and etc. Crypto Revolution has taught and helped a huge cryptocurrency community with a total of nearly 60.000 — Josiah Tan: Founder of Zenchain

LinkedIn profile: https://www.linkedin.com/in/Josiahzenchain/

You can look for other team members on the website along with their LinkedIn profile.

Strategic Partners

Strategic partners are important for new cryptocurrency projects. Gladly Zenchain has many strategic partners. You can see them in the following picture.

Pantera ICO Group is a leading growth accelerator in Korea, they have partnered with top exchanges such as OKEX and Kucoin, and have successfully created marketing and other collaborations for tons of projects.
Korea is the 6th crypto-friendly country in the world and has played an important role in the cryptocurrency world — Partners of Zenchain

Updates:

Conclusion

Overall, Zenchain is a good project to invest in. If you are eager to invest in Zenchain, you should participate upcoming IDO on Polka Bridge. Don’t forget to do your own research.

Zen chain

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Author

Bitcointalk: Sparrow96
BSC: 0xB8dc20668498554eA7004c29812E54255131F723