Things are going well recently with this project. We made ZNT available on exchange platforms like IDEX, Hotbit, Airswap, and Mercatox. We also finally landed on CoinMarketCap and other similar price watch websites. Now it’s time to get serious and head to development of the platform.
As most of you know, ZNT did not have an ICO. Where if ICO is failed to meet the funding, the project won’t proceed. We took a different approach with this project. Instead of having an ICO, we let the community support the project bit by bit during the development stage. At first, we made a significant personal investment first, the team initially poured finance to begin the project then we asked help to the community through an early supporter campaign. Combined financing from our own pockets, our friends and family, and also the community, we fueled the project and begin to move.
A lot of people know that this project will be adopting a dual token system. ZNT is distributed in a different manner through various campaigns. Think of ZNT distribution as community mining. It serves mostly as a reward to the community for participating in different campaigns.
However, ZLT is another different story, ZLT is distributed in exchange for ETH for the purpose of building an ETH reserve and speed up the development a little bit. Initially, ZLT must be linked with ETH to in able to peg it with another asset that wants to connect to the network. ZLT will be used as a companion for any asset in their respective reserve and act as a mediator of the value of the associated asset to the network. A ZLT is required able to connect the asset to the network and will be used to incentivize liquidity provider. If you are interested in helping us build an ETH reserve and speed up the development a little bit, go to the website, read the terms and instruction on how to get ZLT.
Since the development period will take more than a year due to limited (but sufficient) development budget. We included a series of Loyalty Rewards Campaign to our dear community to give a little compensation for keeping the tokens while waiting for the platform to get started.
The token reward that will be distributed for this series of campaigns is from the calculated undistributed ZNT from ZNT-ZLT-U Distribution Campaign. The whitepaper stated that undistributed ZNT from ZNT-ZLT-U Distribution Campaign will be allocated to the category of Development and Marketing. The Loyalty Reward Campaign falls on this category.
For complete campaign details, go to this website link.
The Loyalty Rewards Campaign is a reward generation campaign for loyal token holders (both ZNT and ZLT-U). It will run a minimum of three seasons and a maximum of six seasons. Each season will have a different ZNT reward pool and different minimum requirements. Each season is three months period. The first two weeks of the season is preparation and application for the loyalty reward program. The first snapshot of token balance will occur on every 15th of the first month for the season and final snapshot of token balance is on every 15th of the third month of the season. Distribution of rewards will occur during the last two weeks of the season.
How to Join the Loyalty Rewards Campaign?
- In able to participate and express your interest in the campaign, you need to fill up the Loyalty Reward Campaign application form. Make sure you successfully filled the form by checking your entry on this spreadsheet.
- You need to make sure you have a minimum of 1,000,000 ZNT
and 1,000 ZLT-U in your personal wallet. Please keep in mind that exchange’s wallet is not considered as a personal wallet.
- Make sure the minimum required tokens is in your wallet during opening and closing snapshot. Season 1 opening snapshot will take place starting 00:00 to 23:59 UTC of November 15, 2018. Failure to comply with the minimum requirement on the opening snapshot will get your entry rejected for the season.
- A closing snapshot will take place starting 00:00 to 23:59 UTC of January 15, 2019. Again, failure to comply with the minimum requirements on the closing snapshot will get your entry rejected for the season.
Note: If you have different token balance during opening snapshot against token balance during the closing snapshot. Only the token balance during the closing snapshot will be referenced for reward calculation.
- We will publish instructions on how you will able to redeem your rewards during the last two weeks of the season.
The Pool Reward for Loyalty Reward Campaign Season 1 is 200 million ZNT. To learn more on how individual reward is calculated, head on to this link on the website.
No ZLT-U? Get it.
Looking forward to the community to join this rewarding campaign. Wish everyone a good luck. Thank you for your enthusiastic support.
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