The crypto market has been in a state of flux over the past few months, with many major digital assets showcasing extreme volatility recently.
To elaborate, between June and August, Bitcoin ($BTC), Ethereum ($ETH), Binance Coin ($BNB), and Solana ($SOL) saw their values decline by 12%, 33%, 11%, and 16%, respectively. However, amidst this bloodbath, $ZIG, the native token of the Zignaly ecosystem, has continued to remain in the green.
In fact, over the past year, the digital asset has seen its value surge by a whopping 1,300%, driven in large part by Zignaly’s growing number of partnerships and pertinent ecosystem updates.
To this point, since January, the project has forged alliances with leading crypto entities including wallet infrastructure provider Web3Auth, crypto exchange platform HoudiniSwap, incubation and launchpad service Enjinstarter, and trading platform SpectreAI (among several others).
Most recently, Zignaly unveiled its ZIGStake program, which stands as one of the most significant crypto staking programs with staking rewards of 60,000,000 $ZIG worth $6 Million as of now. The initiative is touted to revamp the $ZIG ecosystem in a big way while providing substantial rewards for early adopters. Currently, just over 11% of ZIG token’s circulating supply is locked in ZIGStake.
To this point, the firm recently concluded a major airdrop which saw a sizable sum of 17,500,000 $YAWN — a meme token that profits from brand-driven businesses — being distributed to users who had staked 5,000+ $ZIG as part of the aforementioned ZIGStake program. Similarly, 150,000 $NEIRO and 27,000,000 $EBULL were also airdropped to the first $ZIG stakers as additional benefits of staking their tokens.
Gearing up for Something Big
As the name suggests, ZIGStake offers $ZIG holders the opportunity to stake their tokens on a smart contract (audited by Hacken) before the ZIGChain mainnet goes live. The beauty of the initiative lies in the fact that there’s no minimum staking requirement, allowing anyone to participate (and earn from the 60,000,000 $ZIG reward pool proportional to their stake).
Since its announcement, enthusiasm surrounding ZIGStake has been palpable. Voting to implement the initiative — among several other structural upgrades — was recently met with resounding success, with 99.95% of the community voting in favor of the same.
A Closer Look at Zignaly’s Newly Proposed Tokenomics
As things stand, the Zignaly team has allocated 125 million tokens to a community pool dedicated entirely to staking rewards and community development. During the program’s first phase (i.e., before the mainnet goes live), 60 million tokens will be used to provide immediate staking opportunities.
To start, $ZIG holders using an ERC-20 compatible wallet need to visit the ZIG staking platform and connect their wallets. Following this, they need to click on the “Stake” tab and enter the amount of tokens they would like to designate.
Once done, the transaction needs to be approved. Rewards are allocated on the basis of an individual’s average staked amount over the entire staking period, which will run until the ZIGChain mainnet launch (expected in Q1 2025).
Looking Ahead
With Zignaly continuing to innovate and evolve — recently establishing a $100 million fund in partnership with DWF Labs — the future looks bright for $ZIG. Moving forward, it will be interesting to see how its ongoing buybacks and burn alongside the above-mentioned staking program influence the token’s performance and overall market dynamics. Interesting times ahead.
Greg Grzesiak is an Entrepreneur-In-Residence and Columnist at Grit Daily. As CEO of Grzesiak Growth LLC, Greg dedicates his time to helping CEOs influencers and entrepreneurs make the appearances that will grow their following in their reach globally. Over the years he has built strong partnerships with high profile educators and influencers in Youtube and traditional finance space. Greg is a University of Florida graduate with years of experience in marketing and journalism.
