ZKS Price Redemption Update!
ZKS Redemption Update!
ZKS is at record low prices right now, making ZKS tokens more accessible
to the users who want to use it to enhance their ability to complete transactions on the EOS blockchain. However, the low price of ZKS places
a considerable strain on the long term economic viability of the ZKS Project. To ensure long term viability of our project, we have updated the amount of ZKS needed to redeem CPU.
ZKS to CPU updated conversion:
10 ZKS — — —- 1 EOS of CPU for 3 hours
100 ZKS — — — 1 EOS of CPU for 24 hours
These changes will be implemented at 00:00 UTC on February 1st, 2019.
We know that this is a significant change for those already using ZKS.
We have put considerable thought and analysis into the decision to adopt this change, and we believe that it is the best for the long term sustainability
and use of ZKS on the EOS Blockchain.
We strongly believe that there will always be a role for ZKS as Chintai, REX and other solutions cater to different segments of users with different needs. For e.g., DAPPS like DICE require large amounts of CPU at reasonable prices for long periods of time. They are more likely to use REX for their needs. However, for a normal user with a small amount of EOS in the account, it does not make sense to lease from Chintai or REX for long periods of time.
These users most likely need CPU, only for a short period of time to perhaps play a game, transfer few tokens or vote on referendum! ZKS shines
in meeting the needs of this large number of regular users. This is also
the reason we want to try our best to maintain this project as long as
the community needs it.
Please give us your feedback regarding this planned change.
Chat with us on telegram at https://t.me/gozks
ZKS is the CPU token for EOS Blockchain. ZKS tokens are redeemed for CPU resources on the EOS Mainnet through a smart-contract. We have simplified the process of getting CPU, so that users of EOS can quickly and easily accomplish any transactions they need to make on the mainnet. ZKS tokens have been designed to be a very simple utility token, 10 of which will provide 1 EOS of CPU for 3 hours and 100 ZKS will provide 1 EOS worth of CPU for
24 hours. There are no complex mechanisms for issuance or redemption, simply go to ZKS.one and log in with Scatter to redeem your ZKS or through whatever wallet your prefer.
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