To all those who swear by $bZIL, we have made great progress on the vault contract that will interface with the existing staking contract.

$ZIL #Zilliqa

CC: @junhaotan_ @xiaohuo200

https://twitter.com/AO_Showtime/status/1476965744306962438

Basically, the way it will work is: Instead of staking directly with the staking contract, you will be staking indirectly via a vault contract (specific to you) which in turn will stake your ZIL on your behalf with the staking contract.

The US instrument that I have been hinting at has just been announced. Extremely excited! It's a $ZIL-backed Trust by @ValkyrieFunds in the US.

Welcome Valkyrie to the growing $ZL ecosystem!

👉 valkyrieinvest.com/trusts/zilliqa…

A short 🧵 on Valkyrie and the $ZIL Trust. 👇 1/ Why Valkyrie? Simply put, because Valkyrie is BIG. For those who do not know, it is an asset management firm in the US. It is also most likely the first entity to file a BTC-futures ETF with the SEC.

👉
coindesk.com/business/2021/…

NFT and social token thesis for the $ZIL ecosystem: Celebrities and influencers carry as much value as any goods, product or services. In the blockchain world, it has started to give rise to the rebirth of NFTs which has naturally extended to social and fan tokens. We are witnessing the early signs of a decentralised creator economy which enables influencers, artists and in fact anyone to monetise themselves. Their ‘virtual’ value becoming tradable on a “humanised stock market” that enables trading of ownership or belonging to a community.

At @zilliqa, we eat roadmaps for breakfast.
h/t @uddomains

Project completed in the last 4-5 quarters on the usability side.

1️⃣ Simulated testing environment.
2️⃣ Full-fledged web IDE to develop Scilla contracts.
3️⃣ Dev-friendly explorer that can be run locally.

Thread 👇 4️⃣ One-stop GUI to launch all the dev tools.
5️⃣ Testing library to make it easy to write unit tests.
6️⃣ Truffle-like framework for Scilla projects.
7️⃣ Learning portal for Scilla.
8️⃣ Revamped dev portal.
9️⃣ Ledger Nano X support and improved Nano S app.
🔟 ZILPay

Thread 👇

Voting on the first $ZIL governance proposal has just ended. The proposal has passed with a resounding YES, which means that the community has now agreed on the rules for future decision making.

Time to analyze, introspect and see how to make this better next time. A thread 👇 1/ 348 different wallets voted. It may appear to be low given that 25,304 were holding $gZIL before the voting started. But, if you compare with other projects, it is in fact quite high. The last voting on YAM had 4 participants, 177 on YFI, 91 on SUSHI, 30 on UNI and 8 on SNX.

Some good discussions on the governance process: forum.zilliqa.com/t/zip-12-stand…. Thought it's worth sharing a summary of what people have been discussing:

1/ Several community members have argued that the voting period on the governance portal should be extended to 7 days 👉 Accepted. 2/ Someone asked to have a Telegram ZIP Alert bot to notify people when there is an ongoing vote. 👉 Maybe @Zillacracy could add this feature in their staking bot t.me/ZillacracyNoti…? The bot currently notifies delegators when the staking rewards are available for claim.

Zilliqa governance proposal attempts to strike a balance between permissionlessness and spam mitigation.

1/ Allows one to start a conversation on a change that one firmly believes in by describing the idea as a ZIP and getting the initial buy-in from the community on the forum. 2/ However, it mitigates spams by requiring enough buy-in from the community in the form of informal "FOR" votes on the forum. At least 25% of votes must be "FOR", thereby signalling sufficient interest to take it to the next step. No $gZIL requirement also helps at this stage.

A summary of the $ZIL governance process via $gZIL:

[Step 1] Proposing a topic: This has to be done on forum.zilliqa.com using the template provided.

Next steps in the thread 👇 [Step 2] Discussions and informal signalling: This happens on the forum as well. You can discuss a proposal with other community members and suggest changes and finally signal your opinion, i.e., whether you are in principle FOR or AGAINST the proposal.

We continue to hear that several $ZIL holders are unable to withdraw their tokens from certain exchanges and their withdrawal transactions seem to have errored out as incorrect nonce.

A thread on status update. 👇 1/ This has only affected a few exchanges, while there are others, where withdrawals are getting processed as expected. Also, given that the network is processing transactions as usual, we understand the frustration of some feeling stuck while others can interact on-chain.

Some observations and thoughts on ZILSwap: What went well, its impact on the $ZIL ecosystem and where we need to improve with some concrete plans that are being worked on. A thread:

👇 1/ ZILSwap was launched by @SwitcheoNetwork on Oct 5, 2020 (~2 months old). Soon after, we noticed for the first time, a flurry of ZRC-2 tokens (equiv. of ERC20s on $ZIL) getting launched on the network (even though the fungible token standard had been around for a while).

$ZIL ecosystem has grown rapidly in the last few quarters and at least some of it can be attributed to the cascading network effect of seed node staking. A thread on observations, thoughts and ideas on taking it to the next-level (bundled together with some tangible numbers).

👇 1/ Staking has so far locked around USD 400 million of $ZIL. In fact, the underlying incentive design has converted passive community members into daily active network users. And the numbers do speak. Since its launch, the daily txn volume on the network has increased by ~40%.

@zilliqa just completed a network upgrade. Five key improvements that platform users, miner and developers can expect after this release:

1⃣ Transactions can now be "soft-confirmed", as soon as they are processed within a shard. It will reduce the visible latency.

Thread 👇 2⃣ A new feature to allow tracking of transaction status. Users can now check whether their transaction was dispatched to the network, soft-confirmed, confirmed, or rejected. No more "Oops! The transaction could not be found on viewblock."

2020 has been a year of growth for @zilliqa and $ZIL ecosystem. At the start of the year, we'd committed ourselves to launching growth initiatives on all fronts. It's great to see the community benefitting from the tangible impact that those initiatives had.

Short thread👇 1/ I regularly see off the chart growth numbers on all fronts such as general outreach, market and social sentiment, developer adoption, platform usage, and usability, dev tooling, community-run initiatives, market infrastructure, general ecosystem growth and $ZIL value capture.

A thread for those who need more clarity on seed node staking with $ZIL that will go live very soon on #Zilliqa.

1) Seed node staking is not a full-blown PoS system. In a PoS system, staking is used to determine the validator who will propose the next block of transactions. 2) Unlike PoS, seed node staking in #Zilliqa is to allow certain non-consensus nodes called seed nodes (those that store transaction history) to earn rewards for their service. These seed nodes do not participate in validating transactions.