Users Stake 1B in ZIL on Zilliqa's DeFi Platform

Users Stake 1B in ZIL on Zilliqa's DeFi Platform

By Abhimanyu Krishnan | News | 15 Oct 2020


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

Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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