With the launch of the Pillar Protocol, Zilliqa will be entering a huge year of growth. For clarity, Pillar Protocol is a Dapp on the Zilliqa blockchain. It has been managed by holders of Zilliqa’s governance token $gZIL. It is generated by depositing collateral assets in to Pillar Vaults in the app.
Allison Reichel in her twitter handle stated: “In addition: Once generated, bought, or received can be used like any other crypto -Backed and stabilized thru collateral assets deposited in Pillar Vaults and voted on by $gZil holders. These features will allow $gZil users to increase gains thru access to liquidity.”
The $Pillar stablecoin is a decentralized, collateral-backed crypto, soft-pegged to $USD and held in crypto wallets or within platforms and supported by the Zilliqa blockchain The Pillar Protocol will increase the scarcity of $gZil, increasing it in both utility and value.
Zilliqa is staying true to their promise of “catalyzing open commerce” as the Protocol is managed by holders of $gZil thru a system of governing involving voting and governance polling $gZil holders govern the protocol and one $gZil token locked in a voting contract = 1 vote.
The Pillar Protocol is expected expand the $ZIL ecosystem and have huge impacts by using a protocol layer $gZIL token for governance that will benefit all $gZIL and $ZIL holders.
One of the users was left wondering, since all money is a social construct and only has value because we collectively believe it has value, what advantage does a crypto-currency gain by being backed by collateral? When someone said the collateral helps us to believe, the user further tried to reinstate telling that I suppose, since we already believe in the fiction of the US Dollar. Not knocking it. Just acknowledging it as a shared delusion.
In a world, where transactions keep happening by the minute, we need to have a value system that is universally accepted and convenient for usage.
Zil is already such a rock solid project from the ground and they are definitely going to see more of Zilliqa.
There is also a lot of excitement happening about the Pancake Swap. Those who have some great experience in the process of farming several coins have to state that the Pancake is producing some healthy return.
For clarity, Pancake Swap is a new ZIL-BNB pool. It claims to be the #1 AMM and yield farm on Binance Smart Chain.
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