Dear Unizen Community,
As previously announced we are pleased to announce that the recent security audit went very well and, as promised, we will be upgrading the Trade Aggregator module on January 2 to incorporate the new token burn functions that we have previously explained.
Token Burn Function
As a reminder, for single-chain trades (e.g., an ETH to USDT trade conducted solely on the Ethereum Network), 25% of the new 0.25% trading fee will be used to automatically buy-back ZCX (calculated in USD equivalent) which will be earmarked for burning in a company-controlled wallet.
For multi-chain trades (e.g., trading ETH (on the Ethereum Network) to MATIC (on the Polygon Network), 50% of the new 0.25% trading fee will be used to conduct an automatic buy-back of ZCX which will be earmarked for burning in the same burn wallet.
The ZCX tokens in the designated wallet will never enter circulation and will be burned at random internals and in random amounts frequently throughout the year.
Trade & Burn Function
In addition to the Burn function, the initial reserve burn pool of 20 million ZCX tokens will also be made available on the launch date. For as long as the reserve burn pool holds tokens, each single-chain trade conducted on the Trade Aggregator will cause ZCX to be burned in an amount equivalent to 0.25% of the size of the trade (calculated in USD equivalent). Similarly, for each multi-chain trade, the burn will be 0.50% of the size of the trade (calculated in USDT equivalent).
The limited reserve burn pool will be topped-up strategically, when possible.
We are pleased to deploy these deflationary measures and each of these burn functions are subject to change as per ongoing regulatory developments.
I would like to wish everyone the very best for the holiday season as we all look forward to a promising year ahead.
Sean Noga, CEO
