Zilliqa’s new DeFi platform has seen over 1 billion of ZIL, worth approx. ~$19M staked in only a few hours, according to a tweet posted by the team on October 14.
- Zilliqa’s non-custodial staking platform will “drive more value and utility into Zilliqa’s circular economy”, according to the team
- Users can stake governance token ZIL through the Zillion portal or the Moonlet wallet, with the Atomic Wallet soon to be supported
- The team says that the annual return rates will be around 6%, with an increase to 12% once 40% of the supply has been staked
- In addition to staking rewards, users will receive 1 gZIL, a NFT governance token, for very 1000 ZIL staked
- This is Zilliqa’s second major DeFi milestone, having launched the ZilSwap DEX in collaboration with Switcheo