Staking Zilliqa and generating gZIL, the governance token

By PVM | Mind Puzzle | 8 Dec 2020


I've always been a Zilliqa (ZIL) fan, and I strongly believe that Zilliqa is the solution for the ever-growing crypto market! 8f91b4598f77a55a1599dbe145ccc4d4eab53fee39cd45de38b5236977409e5a.png

Zilliqa public block-chain platform for high-throughput applications, brings the theory of sharding to practice, increasing the speed of transactions to match the expansion of the market. The latest block-chain tests pushed the Zilliqa Network to a throughput of more than 2,800 transactions per second, which is over 200 times higher than that of today's most popular block-chains. 

I already staked a large share of Zilliqa (ZIL) on Atomic Wallet, when the option was available only on the desktop version. The Zilliqa staking was now introduced to the Mobile App, and I want to see if the process is easier this way.4457d158f321bad65e613b5b989862eea9088a65248367402c7cc4a2688856b4.png

I was holding 2299 ZIL on Binance, getting a 0.30% APY, a minuscule reward compared to the 20% available on Atomic Wallet.5d365369ebff9ba5c244e872e51f345d8d955d20f18f9009aa91fa782ea06521.jpeg

The transfer fee is minimal, only 0.01 ZIL, which is a nice change from Ethereum gas fees. (Look at me! Complaining again about ETH gas fees!)d3d10f7c910cd5ef476bf4c73a0a0c1fc29a7613ac0ad1459ae029796c0de0a0.jpeg

After the successful transfer, I had 2300.44 ZIL available for staking, 2856.49 already staked and 44.84 claimable rewards.c2bb6911e211078a9b3ed445b6ac125df259a7d9279dca738fca20e331f31161.jpeg

Firstly, I wanted to claim my ZIL reward for November, which was $1.05 worth of Zilliqa. A quarter of the bounty was paid as network fee for the claim.3d7e0b3d404e4dd33d47f9fd05afc027852e45b6673462ac8bce11c38cc5f448.jpeg

Atomic Wallet announced on Twitter that the new governance token, gZIL, will be supported and shared. For every ZIL claimed from staking, users will receive 0.001 gZIL. A total of 450 million Zilliqa tokens are delegated on Atomic Wallet by 5,000 users, and I am one of them.1a7806d41a95b8155f80a8aa3857acbf6edf4e2bf8ab9c3a60699bae2207b537.jpeg

The gZIL, abbreviation of Governance ZIL, is a ZRC-2 compliant fungible token contract. The rationale behind issuing gZIL is to reward long-term token holders and give them access to governance tokens that can later be use to make ecosystem-wide decisions. I received 0.044 gZIL for my claim.d33751e425f8e8978ea4e2f7d21262f7c1bb3788aa65fedf6ae57430f3b1ce2f.jpeg

When I staked the first batch of Zilliqa, I forgot to keep enough tokens to claim the reward and this time I want to avoid this mistake. 726d61123dd51d49e7064b0f8a02a984d65c82d5640ad18cdc76cf0c54772e78.jpeg

From the 2339.17 available ZIL, I staked only 2310.97, leaving enough tokens to make a claim at the end of December, and restake the reward.ff4c1d2b2c470fe5b9d20100bc51860fcd33d367b70c5942471f7c2ee7efb424.jpeg

I now have 5167 Zilliqa tokens, at 20% yearly yield. My aim is to claim monthly, and restake, as long as the claiming fee will be less than the reward.3855e31bacce752677e7e8497ac8efd1c0ad42cc701fefae4923ff8d2bfd0797.jpeg

Accumulating gZIL is an extra incentive and time will tell how valuable this token will be. Considering the ability of Zilliqa Network to fill a gap in the market, I believe that my investment will pay off in 2021.

 

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Link and referrals:

Zilliqa (ZIL) - the solution for the ever-growing crypto market!

How to stake Zilliqa (ZIL) on Atomic Wallet

Coinbase Earn - Up to $43 BAND

Coinbase Earn - Up to $59 Compound (COMP)

Coinbase Earn - Up to $52 worth of Orchid (OXT)

Coinbase Earn - Up to $50 worth of EOS

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PVM
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