Zilliqa’s Tokenomics Overhaul

While altcoins experience significant declines, the Zilliqa team energizes its community with a crucial announcement. The blockchain is preparing for a tokenomics overhaul as it introduces Zilliqa 2.0 this week.

The upgraded model aims to enhance the blockchain’s infrastructure through attractive Annual Percentage Rates (APR) for ZIL stakers and reduced inflation.

> This week, we’re exploring tokenomics on the newly efficient Zilliqa network. Stay tuned for exciting changes to $ZIL!

The upcoming modifications emphasize the team’s dedication to making ZIL a more rewarding and stable token for its users.

Zilliqa’s Tokenomics Revamp

Zilliqa is a permissionless blockchain engineered for high throughput, utilizing sharding to tackle speed and scalability issues. Despite its advantages, the platform has faced challenges, particularly concerning long-term sustainability and inflation.

This week’s tokenomics revamp will tackle these issues. Key aspects include:

• Reducing Inflation: Control of ZIL token unlocks will lower inflation, potentially increasing the token’s value and enhancing the ecosystem’s sustainability, making ZIL a more attractive cryptocurrency.

• High APR for Stakers: ZIL 2.0 will implement high APR for staking, encouraging user participation and reinforcing platform security. Users who lock their ZIL can look forward to modest earnings.

According to the Zilliqa 2.0 whitepaper:
> To ensure the long-term health of its token economy, Zilliqa 2.0 will reduce inflation through an automatic balancing of ZIL awards to validators and amounts burned in transaction processing.

The new tokenomics framework will promote a sustainable and future-proof model while ensuring validators receive appealing incentives and rewards for their contributions.

Other updates include enhanced decentralization, web3 accessibility, cross-chain interoperability, and a novel sharding technology, X-shards.

X-shards will enable developers to tailor blockchains in the ZIL ecosystem according to their requirements. The whitepaper states:
> X-shards allow developers to customize the blockchain and enable seamless interaction across different X-shards and the Zilliqa 2.0 mainnet, with built-in communication and transaction capabilities.

ZIL Price Outlook

Currently, the token has dropped over 7% in the past 24 hours to $0.0155. Over the previous week, ZIL has faced persistent bearish trends, losing 5% in a week and 30% month-to-date.

Widespread market slumps driven by macroeconomic factors have affected ZIL’s performance. As Bitcoin hovers around $80, it hints at potential dips to $70K amid broad economic difficulties.

Enthusiasts will be monitoring how this week’s tokenomics updates will influence ZIL’s performance in the immediate future. If successful, the anticipated enhancements could make the altcoin more attractive to investors.

Original article found on Invezz.