Zenlink is now Live on Moonbeam and Launching the Liquidity Incentive Program!
On November 3, 2021, Zenlink officially launched on Moonriver and Bifrost networks as the first native cross-chain DEX of Polkadot and announced that once the Moonbeam network is launched, Zenlink will also deploy to the Moonbeam network to bring the unparalleled DeFi experience to the Dotsama community in the first place.
Today, we are excited to announce to the community that Zenlink is now live on the Moonbeam network! This integration will be an important use case for web3 applications to be deployed to both the Kusama and Polkadot networks, and it also means that we have taken a solid step forward in Zenlink’s multi-chain expansion roadmap.
With the launch of Zenlink on the Moonbeam Network, we wanted to share more details about the launch and liquidity incentive program with our most committed community, follow us and read on!
Unique ZLK Tokens for both Kusama & Polkadot
According to Zenlink Tokenomics, Zenlink will issue only one set of ZLK tokens on both the Kusama and Polkadot networks, with a maximum supply of 100 million. In both networks, a 40% and 60% distribution ratio will be followed, i.e. 40% of the tokens (40m ZLK) will be issued on the Kusama network and 60% of the tokens (60m ZLK) will be issued on the Polkadot network.
You can get a clearer understanding of the ZLK distribution from the above graph. We strongly believe that issuing the same set of ZLK tokens on Kusama and Polkadot is the right thing to do for both the Zenlink community and the Dotsama community, as Zenlink is committed to building the underlying cross-chain DEX protocol within the Polkadot ecosystem to aggregate global liquidity and enable liquidity sharing. So, regardless of which parachain ZLK is eventually issued on, we will make it possible to transfer and trade on almost all parachains, through X-Transfer, DEX aggregators, and smart order routing.
Even in this case, we still want to remind the community that ZLK has a long-term buyback and burn program, so ZLK is always in deflationary mode. We have burned 200k+ ZLK so far and it will continue to grow.
Launch of the Liquidity Incentive Program
With the launch of Zenlink on the Moonbeam network, a yield season for the Dotsama community will begin. As the first native cross-chain DEX on the Moonbeam network, Zenlink will provide liquidity incentives for GLMR (Moonbeam native token) and assets cross-chained from other blockchain networks to the Moonbeam network with the support of bridges such as Anyswap, Celer cBridge, Nomad, Axelar, and others.
The first pairs or tokens to be incentivized on the Moonbeam network and the initial incentives are shown below (the total amount of incentives per pair or token will be dynamically adjusted based on the actual locked value).
Farming Period: Long-term (if the incentive is adjusted or discontinued, a separate announcement will be made, please follow the Twitter or Zenlink Discord server)
Rewards calculation formula: actual rewards users can earn per block = (number of users staked tokens / total number of staked tokens) * reward release rate
Rewards Claim: users can claim rewards once in each reward interval, please refer to the countdown displayed on the front end of Zenlink DEX for the specific time to claim rewards.
Trading Mining and Invite to Earn on Moonbeam Network
Trading Mining and Invite to Earn is currently active on Zenlink (both on Moonriver & Bifrost), and when Zenlink is launched on the Moonbeam network, trading and inviting on the Moonbeam network will be seamlessly added to the incentive scope of the relevant activity. All trading pairs on Zenlink DEX are covered by the trading mining incentive and count towards the ongoing current trading mining activity, you can learn more details about trading mining here: https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide/yield-farming#trading-mining
The same goes for Invite to Earn, where users can use MetaMask to connect to the Moonbeam network, then generate an invite code or invite link in Zenlink DEX and invite more friends to use Zenlink DEX to earn invitation rewards. Of course, if you have already generated an exclusive invitation code or invitation link on Moonriver, then you will be able to use it directly, learn more details here: https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide/invite-to-earn
Note: Since Moonriver and Moonbeam networks use the same account system, the final invitation rewards will be sent on one of the two networks, please pay attention to the official announcement after the end of this cycle of Invite to Earn for details.
Bridge &User Guide
As a newly launched network, it is important to have more bridges support, and more bridges support means more assets can be used for diverse defi use cases on the Moonbeam network. Therefore, we plan to work with multiple bridges to provide a better liquidity base for the community.
Currently, we already support bridge assets from Multichain (previously Anyswap), Celer cBridge, and Nomad, but since bridges use different token contracts, the same asset from different bridges has different contract addresses. For the convenience of the community, we will mark them on the Zenlink DEX front-end, as outlined below.
- Multichain (previously Anyswap): Building on our existing partnerships, we will continue to support Anyswap, and bridge assets from Anyswap will be uniformly identified as anyUSDC, anyETH, anyWBTC, anyFRAX, anyBNB, etc. Portal: https://anyswap.exchange/#/bridge
- Celer cBridge: As a new partner of Zenlink and to provide the community with fast, low-cost cross-chain bridging services between Moonbeam network and 15 other supported blockchains and layer2 networks. Portal: https://cbridge.celer.network/
- Nomad: Nomad will be a new partner and provide the community with the option of Ethereum mainnet bridging to Moonbeam network. Bridge assets from Nomad we will uniquely identify as nomUSDC, nomETH, nomWBTC, etc. Portal: https://app.nomad.xyz
- More support bridges to be added…
At present, when users need to bridge assets, they need to go to the corresponding bridges app for operation. We will integrate more bridges into X-Transfer as soon as possible so that users can complete cross-chain and transfer assets in one stop.
In general, using Zenlink DEX on the Moonbeam network is not very different from using it on the Moonriver network, when you visit https://dex.zenlink.pro/ and use MetaMask to connect to the app, you only need to select Moonbeam in the network options provided by Zenlink DEX to automatically help you add the Moonbeam network RPC.
If you are using Zenlink DEX for the first time, here is a user guide for you: https://wiki.zenlink.pro/zenlink-dex-dapp/user-guide
In short how to participate in GLMR LP Farming or Staking on Zenlink:
1- Visit http://dex.zenlink.pro/ and connect wallet with MetaMask, select “Moonbeam Network”
2- Transfer GLMR to your account and swap GLMR to WGLMR (If you already have a GLMR balance in your account you will not need to transfer it to another account, or you can choose to withdraw GLMR from CEX. BTW, make sure you don’t swap all your balance and leave some for gas fees)
3- Move USDC, ETH, WBTC from Ethereum or other blockchains to Moonbeam via https://anyswap.exchange/#/bridge or https://cbridge.celer.network/ or https://app.nomad.xyz/ (more bridge support will be added)
4- Go to the “Earn” page in Zenlink DEX and perform LP farming or GLMR staking (More farming pools will be added one by one, keep eyes on it)
Learn more about Zenlink:
📍 — DEX DAPP | Website | Twitter| Github | Discord | Telegram EN | Telegram CN | Announcements Channel
📚 — Whitepaper | Tokenomics