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Zilliqa (ZIL) to Break Into DeFi Race: Co-Founder Shares New Roadmap

One more platform is ready to join the ongoing DeFi run. Zilliqa (ZIL) is dangerous enough to compete with existing dApp hostings

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Cover image via twitter.com

Dr. Amrit Kumar, co-founder of the Zilliqa (ZIL) high-performance blockchain platform, has shared the upcoming plans of his ecosystem in terms of both technology development and user infrastructure progress.

New tokenomics, new governance, new DEX

According to the roadmap announced by Dr. Kumar in his recent tweet, Zilliqa (ZIL) is highly focused on establishing itself as a part of the global DeFi realm. The new instruments, new assets and reorganized tokenomics of ZIL may be introduced as soon as fall 2020.

First of all, a new tokenomics design will be activated on Zilliqa's (ZIL) mainnet. It will be accompanied by noncustodial staking to allow all ZIL stakers to participate in network validation in a decentralized manner without leaving their wallets. Initially, the staking of ZIL was organized through KuCoin and Binance infrastructure.

A new asset, gZIL, will be introduced to advance the mechanism of network governance. In line with the overhyped DeFi trend, gZIL "yield farming" will commence. Zilliqa's unique approach to mining will also be optimized by governance instruments.

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In addition, a native decentralized exchange on Zilliqa's (ZIL) mainnet, ZILSwap, will begin operations. ZIL and gZIL assets will be accompanied here by XSGD, the first-ever stablecoin based on the Singapore dollar (SGD). Dedicated application will be released to allow ZIL holders to store their riches in Ledger Nano X wallets.

Smart contracts reconsidered

In terms of developers' instruments, new smart contract development tools will be released. Dr. Kumar introduced a Truffle-like framework for contract development and a Web3.js-like library for smart contract development. Both releases will significantly improve developers' experience with dApps software engineering.

Finally, all contracts written in the Scilla Zilliqa-native programming language will receive a new TLA+ verification framework.

Zilliqa (ZIL) is a one-of-a-kind sharded blockchain secured by Ethash PoW-mining algorithm. It is poplar due to the high speed of transactions and its impressive scalability.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)