Introducing ZIG utilities

Integration of ZIG into the Zignaly platform

Over the last month, Zignaly has brought to market its platform utility token ZIG via the launch of the NFT-based insurance protocol. While ZIG enables the insurance protocol, it’s not the only use-case for the token. Over the next few weeks, Zignaly will be building out an entire ecosystem centered around ZIG, in a way that impacts both, investors and platform users.

With the rollout of this ecosystem, Zignaly hopes to alleviate the pain points and reduce the barriers to entry that new entrants face when getting started within crypto investing while rewarding current users for early adoption via incentives and positive price action.

As noted in our previous documentation, ZIG will have 4 distinct use cases within the Zignaly platform:

These include:

• Governance — where holders are able to vote on key platform updates and features
• NFT based Insurance Protocol Implementation and Risk Mitigation — where ZIG allows users access to the trading insurance and the other various risk mitigation techniques so that users can keep their downside protected in the event of a downturn or sudden market sell offs.
• Profit-Sharing & Premium — where ZIG allows users to leverage the benefits of Zignaly’s profit sharing platform through co-op ownership of fund manager profits
• Loyalty & Rewards — where exclusive NFTs unlock loyalty and reward incentives for qualified Zigcoin stakers, holders, and eventually borrowers/lenders.

Zignaly’s goal is to maximize the number of consumer touchpoints while minimizing the barrier of interaction that comes with multiple use cases. It will begin implementing this via the following 2 additional use cases that will be going to market in the first half of Q3 2021.

Trading Fee Rebate

Current users that have an enabled Zignaly exchange account based on the Binance broker API program, will be eligible to get a trading fee rebate if they are holding ZIG in their Zignaly Wallets. Following a tiered approach, the rebates will increase with the number of ZIGs held within a user’s wallet. Anyone that is either trading manually, running a service, or following an expert trader is eligible for this rebate as long as the user is trading on the Zignaly exchange. The trading rebate tired model will be released shortly before the launch of the ZIG wallet and will be live soon after that.

It should be noted that the expected time of integration and launch is within the first half of Q3 2021 as proposed within our technical timeline. An alternative is being worked on currently which may accelerate the implementation timeline.

Payment of Success Fees

Within the profit-sharing model, users are currently charged a percentage (%) of the profit made by the expert trader as the fee for using the service. Both Zignaly and the expert trader deduct their associated fees from the profit made from the user allocated funds. Since these profits are settled on a per-trade basis, users have the option to either withdraw or reinvest their share of the profits accordingly. With the implementation of the ZIG wallet, users now have the ability to pay the corresponding success fees in ZIG. By paying in ZIG, users are able to take advantage of long-term potential value accretionas it continues being modeled and developed within the Zignaly ecosystem. Furthermore, as the value of ZIG continues to scale to the upside, users will relatively be paying less ZIGs per successful trade, which positively impacts all ecosystem stakeholders, as the calculation is done based on notional currency.

Zignaly as well as some expert traders will provide a significant discount while paying success fees in ZIG. In the coming weeks, Zignaly will be rolling out expert trader incentive programs to facilitate the acceptance of ZIG as a means of payment.

With the additional implementation of the described use cases, foundations are being laid right now for ZIG to be at the helm of the Zignaly ecosystem. These use cases will be a first implementation with more to come in the future as ZIG continues to pave its way towards becoming the gateway to crypto investing for users of all types.

Stay tuned for more exciting announcements pertaining to the creation and deployment of the insurance protocol, as well as how and where you can purchase Zigcoins!

For more news and to stay updated with the latest product offerings from Zignaly make sure to join our community at https://token.zignaly.com/

Join the Zignaly Community

Backed by world-class investors, Zignaly is the first social investment platform that allows experts and investors to interact in a mutually beneficial environment using crypto via profit-sharing model.

If you are interested to follow Zignaly and get in touch with the project team members, you can participate and receive timely updates from the following official channels:

• Twitter: https://twitter.com/zignaly
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For partnerships, media or other collaboration opportunities, please email us at brb@zignaly.com.