Zillacracy — 1,000,000,000 Staked, A New Face, And What's Next!

Andy Little
Oct 29, 2020 · 4 min read

Here at Zillacracy we are overwhelmed by the support we have received from the many delegators (almost 4000 at the moment) and we would like to thank you for your continued trust. We’ve come a long way and with non custodial staking being a fact we’re moving to the next phase at Zillacracy.

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Let’s do a quick recap of the Zillacracy story:

The idea for Zillacracy started around September 2019, we then went live in February 2020 and with the realisation of the Zillacracy Staked Seed Node we have secured our first revenue stream.

If you ask us the simple question: why do you do what you do? the answer is: “Zillacracy exists to engage and nurture the talents found within the Zilliqa community and to propel Zilliqa to the next level.”

This sounds great, right? But what does it mean on a practical level?

It means Zillacracy will proactively engage with community members as well as developers outside the space to help develop the Zilliqa blockchain. Community members can play a vital role in contributing to the blockchain and can help cement the future of the project with the help of the Zillacracy initiative.

A new member to the Zillacracy Council

We’re also happy to announce that we’ve attracted Mark (digamma) in joining the Zillacracy Council. He will join in the role of Business Developer and Project Lead to help build useful services and dApps for the Zilliqa community.

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Mark has played a key role in the Zilliqa community since day one, and even came up with the idea of non-custodial staking. Mark brings an impressive set of skills and business acumen to the Council and is eager to help Zillacracy and Zilliqa grow further.

Mark first set the wheel in motion for the non-custodial staking we offer today with an email to Zillacracy. At that moment of writing (March 2020) staking was still capped (at 700 MM ZILs).

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Above are parts of the original document submitted by Mark to Zillacracy explaining his ideas for a non-custodial staking solution. Besides Zilliqa, Moonlet also joined the party to run an SSN and develop a user friendly (mobile) wallet and together we’ve been working side by side for many months to get to the point where we are today.

We’ve Done It — Thanks To You, The Community!

Zillacracy has reached 1,000,000,000 $ZIL staked with the help of the amazing community!

We’ve done it, we’ve hit 1 Billion!

We hope to bring you more exciting updates and news moving forward with a lot of amazing and concepts currently being proposed by the Zillacracy Council.

Now lets not wait around and reach 2,000,000,000 Zilliqa staked on Zillacracy!

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What’s next?

At the moment we are in the process of defining how we can bring the most value to the Zilliqa ecosystem with the commission Zillacracy receives while at the same time giving back to Zillacracy stakers. There’s lots of work going on behind the scenes (think: financial plan, transparency reports, maintaining SSN infrastructure, security, setting up legal entity etc.) which isn’t directly visible but will provide the fundament to build upon.

And if you dissect Zillacracy’s doings and activities you can roughly divide it into:

  • marketing & education
  • funding of and investing in projects
  • developing dApps for the community

Marketing and education via social media have been going on for quite some time and the same is true for the funding of projects proposed to Zillacracy by community members. Actively developing dApps ourselves for the benefit of the community is a new one for us (although one could argue that non custodial staking is a dApp).

Although a bit catched by surprise by the popularity of staking with Zillacracy we haven’t sat on our hands and we aim to deliver two dApps this year. More on that later.

The first steps have been taken and now let’s snowball into the future with the backing of the community and Zilliqa.

Watch this space, developments are coming.

Zillacracy

An open-source community initiative, to expand the Zilliqa…

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