ZZZ.Finance: DeFi by the People, for the People
Cryptocurrency has become the go to place for people to store their money and receive a return since banks have lowered rates of return on savings accounts and more since the COVID-19 pandemic. Yield farming is one example how how blockchain technology has been utilized to receive a return while contributing to an ecosystem that builds value in various ways. Not all yield farms are alike, and this is what ZZZ Finance is capitalizing on.
ZZZ Finance (ZZZ) is an ERC20 token (Contract Address: 0xc75F15AdA581219c95485c578E124df3985e4CE0) utilizing a decentralized governance ecosystem which allows holders to stake their tokens, receive airdrops, and provide liquidity. The contract is 100% owned by the community as its decentralized. There were no OTC deals, no Developer fees, or early wallets involved in the project. The current price of ZZZ is $117.20 with a diluted market cap of $2,433,000 and 2,507 holders. ZZZ is considered the governance token of the ecosystem. Its total supply is 20,000 with all 20,000 in circulation. The main utility of this token is governance, but users can also stake ZZZ and use it in their pool to receive a second native token called NAP.
NAP is also a native token in the ZZZ ecosystem which is received by swapping ZZZ with NAP via their pool (link provided at the end of this article). NAP’s total supply is 20,000,000 which can only be paired to ZZZ. The other utility of NAP includes a NAP Spendable Yield Multiplier, liquidity providing, staking NAP, along with another ecosystem layer which is upcoming. NAP has only one pair and the pair is ZZZ/NAP.
DREAM is the 3rd native token in the ecosystem. Currently there is no cap for DREAM but it will have developed utility which includes liquidity providing, an added ecosystem layer, along with other forms of utility being studied and developed further. DREAM is also attained by swapping but has a ZZZ/DREAM pair along with a DREAM/ETH pairing on Uniswap.
The pools to swap these tokens is possible by another layer in the ZZZ ecosystem called Dreamswap.io. This layer is what brings all 3 native tokens together and creates the ecosystem in which the tokens will be used via staking, voting, swapping, and more. The multiplier mechanics associated with NAP token are as follows:
Multipliers mechanics with NAP token:
- Level 1: 10% boost — cost 1000 NAP
- Level 2: 20% boost — cost 2000 NAP
- Level 3: 30% boost — cost 5000 NAP
- Level 4: 50% boost — cost 10000 NAP
- Level 5: 75% boost — cost 20000 NAP
- Level 6: 100% boost — cost 30000 NAP
Boost costs will be reduced as time passes..Purchasing a boost is a one-way transaction. It’s not refundable and will only last for the duration of the pool. Multiplier calculation for 30% boost is yield * 1.3.
There will be an entry fee for ALL pools on Dreamswap of 3% of your LP staked
Breakdown of the usage:
- 1% goes towards development fund for hiring more devs to reach community goals quicker. Build governance and more pools. Faster production.
- 1% will be airdropped to community members holding or staking ZZZ every 3–8 days.
- Randomization will help prevent people frontrunning airdrops. The airdrop will be proportionate to the amount of ZZZ you hold or stake.
- 1% will be used to buyback ZZZ/NAP/DREAM for community pools after compensation for Snoozer has been made.
Like all new tokens, you’re probably skeptical. Rest assured, the developers and community have addressed this by authorizing and paying for an audit by CERTIK.IO which will complete an audit on the entire ecosystem and pools. The audit was conducted and completed and can be reviewed here: https://shield.certik.foundation/vendors/zzz-finance. As mentioned, I cannot stress enough that the audit covers every part of the ecosystem, from ZZZ to Dreamswap.
Another part of the entire ZZZ system is its multiplier/boosting efforts for holding/staking ZZZ which is described below via their website:
“Multiplier / Boosting
A multiplier effect has been created for holding or staking ZZZ*.*
It is crucial to note that these are linked to individual ETH addresses. Bonuses do not apply across multiple addresses.
1. Staking in ZZZ or ZZZ/ETH pools.
2. ZZZ held in your wallet.
3. Total amount of ZZZ redeemable from your ETH / ZZZ UNI Liquidity Tokens on Uniswap.
As a thank you for contributing to the ETH/ZZZ UNISWAP Liquidity Pool: The ZZZs wrapped in UNISWAP ZZZ / ETH LP tokens themselves will count as double (if you have 5 ZZZs in your UNI tokens, it will count as 10). More methods of holding and staking ZZZ will be added in the future. Staked ZZZ / NAP UNI Liquidity Tokens DO NOT count towards your boost level.
EXAMPLE 1: Provide 5 ZZZ of liquidity to ETH/ZZZ pool and it will count as 10 ZZZ for pool multiplier (30%)
EXAMPLE 2: Provide 10 ZZZ of liquidity to ETH/ZZZ pool and it will count as 20 ZZZ for pool multiplier (60%)
This will not double your actual ZZZ balance for anyone wondering!
Unclaimed rewards from any pools will not count towards your multiplier.
Here’s the breakdown on the multiplier:
1. Global Multiplier for ZZZ in Wallet
This is a global effect, with some exceptions based on the needs of the individual pools.
The following tiered bonus structure applies:
1 ZZZ = 2%
5 ZZZ = 10%
10 ZZZ = 30%
20 ZZZ = 60%
2. Local Multiplier for SPENDING NAP
As a thank you for contributing to the ETH/ZZZ UNISWAP Liquidity Pool: The ZZZs wrapped in UNISWAP ZZZ / ETH LP tokens themselves will count as double (if you have 5 ZZZs in your UNI tokens, it will count as 10). More methods of holding and staking ZZZ will be added in the future.Staked ZZZ / NAP UNI Liquidity Tokens
In addition to the multiplier for staking ZZZs, you may also spend NAPs to get bonuses on individual pools. Depending on the amount you spend it increases your bonus. This effect works exclusively on the pools you choose. It will NOT be transferred from a version 1 pool to a version 2 eventhough the pools might share the same name.
Level 1: 10,000 NAP:10%
Level 2: 20,000 NAP: 20%
Level 3: 30,000 NAP: 40%
Level 1: 1,000 NAP: 10%
Level 2: 2,000 NAP: 20%
Level 3: 3,000 NAP: 30%
Level 4: 7,000 NAP: 50%
Level 5: 10,000 NAP: 75%
Level 6: 20,000 NAP: 100%
Prices will vary
3. Step Down Effect
To help increase the ability to gain a bonus that both rewards early adopters (who may have larger balances) and newcomers (who may have small balances), we have implemented a solution that we like to call ‘Step Down’ on the cost of the NAPs bonuses.
The cost of the multipliers drop by 10% every X hours according to pool duration. This will occur 5 times, and then hold steady.
Level 1 step down numbers:
10,000, 9,000, 8,100, 7,290, 6,561, 5,904.9
Level 2 step down numbers:
20,000, 18,000, 16,200, 14,580, 13,122, 11,809.8
Level 3 step down numbers:
30,000, 27,000, 24,300, 21,870, 19,683, 17,714.7
What happens to your NAP once spent?
We decided to go with a self sustaining ecosystem where the multipliers spent (NAP) will be distributed back into the ecosystem at a ratio of 50% to fund rewards for future Pools, and 50% towards the Dev Fund to fund future initiatives, project needs, and community proposals that will be voted on through our upcoming, decentralized governance system.
This ensures the long term health and viability of the ZZZ ecosystem, thus allowing us to enrich the governance model where we are able to afford the swift execution and implementation of the proposals voted on by our community Holders.
Most importantly, everyone may decide for themselves if they wish to apply the NAP multiplier and, by doing so, not only get better rewards, but also make the project grow by fostering development and more pools.
The idea of a self-sustaining, growing ecosystem model without inflation puts us in a very unique position, and sets the ZZZ and NAP protocols apart from other major yield farming projects out there in the DeFi space in both stability and sustainability.”
ZZZ is providing a unique and innovative landscape with its decentralized model along with its own swapping layer with multipliers for utilizing and staking the native tokens in the ecosystem. This provides the entire project with a use case most starting projects have trouble establishing which is a major plus side to the project. Allowing its users full control of the ecosystem along with a way to trade/swap tokens while remaining in the ecosystem is effective and it is secure as evidenced by the audit which was performed. While development and advances are still being made to build the platform, a lot has been done in just over 2 months since the launch of the project which speaks for the direction its heading. With all of the information presented, it makes one wonder why anyone would sleep on ZZZ Finance.
- Website: https://zzz.finance
- Telegram: https://t.me/zzzfinance
- Discord: https://discord.com/invite/6Csk32S
- Twitter: https://twitter.com/zzzfinance
- Github: https://github.com/zzz-finance
- Platform Beta release: https://beta.zzz.finance
- Forum: https://forums.zzz.finance/
(I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!)
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Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.