Introducing Zizag Exchange token “ZIGZAG”. The Zigzag Exchange goal has always been to create a community-owned DEX, with the potential of Zero-Knowledge proofs, making the user experience indistinguishable from existing centralized exchanges.
Speculation around an airdrop has unquestionably gone rampant within our community. Recent projects that have rewarded their early users with an airdrop have done it in an ineffective manner, resulting in a displeased community.
There have been hundreds of thousands of wallets with interactions on its platform. For obvious reasons, it is not practical to airdrop every single one of those wallets.
Therefore a certain set of eligibility and criteria has to be decided upon for this token reward. Zigzag team does not want to be the centralized party dictating the criteria of an airdrop. That’s why all user data will be published in a future post on our governance forum allowing its community to decide upon the eligibility criteria for an airdrop.
The community can then vote on their desired requirements. In order to establish a community-governed airdrop, tokens will have to enter the circulation to allow for a vote; the formation of ZigZag’s DAO.
THE TOKEN LAUNCHING ANNOUNCEMENT
Zigzag Exchange will publicly sell ZIGZAG tokens for USDC on its own DEX on the 24th of June at 3 PM UTC. The first round of its public sale allows users to become part of the DAO in the early stages and hold voting rights over the token use case, as well as for deciding upon the airdrop.
PUBLIC SALE ROUND 1
- Public sale Round 1 – First IDO on zkSync
- Token Ticker:ZIGZAG
You can start bridging your USDC to zkSync here on this link. Swap fees on zkSync are only ~$0.10. The token will be launched with governance functionality, but its use case can reach further than solely governance. Revenue sharing is a possibility, decided by the DAO.
Currently, ZigZag only offers spot trading on zkSync due to infrastructural limitations. At the release of zkSync 2.0 and StarkNet, the introduction of margin trading and perpetual futures with permissionless listing allows us to compete with the largest centralized exchanges.
Furthermore, by launching the first IDO on ZigZag it will lead the way for other projects seeking an IDO launchpad that takes no fees in a permissionless and decentralized manner. In addition, the permissionless listing is already functioning on its current version of ZigZag. It allows anyone to create any market they desire in an order book style with no impermanent loss.
Zigzag Exchange’s vision is to extend this concept to a number of other asset classes, outside of cryptocurrency. Listing and trading futures contracts of equities, bonds, forex pairs, and commodities at lightning speed will be offers to users on ZigZag Exchange.
ABOUT Zigzag Exchange
ZigZag is a native, easy-to-use, reliable, fully secure, and low fee Decentralized Exchange built on ZK Rollups.