Trading platform Zignaly has just announced the introduction of its very own reward system. Earlier this year, the platform launched the utility token ZIG, which is primarily used to facilitate the insurance protocol within the platform. So far, Zignaly has been structuring its entire ecosystem around ZIG.
The nearing release of the much anticipated ZIG wallet powered by Cybavo is the driving force behind the Zignaly reward initiative. The platform seeks to grow the token’s adoption and utility within DeFi through the reward system.
In general, Zignaly will devote a set amount of ZIG tokens every month to a reward pool. The tokens will then be shared amongst ZIG holders and participants. As of now, there is no set allocation and distribution schedule. However, all necessary information will be available very soon.
Zignaly current partnership with Cybavo has been quite fruitful. The digital asset wallet solution has enabled the distribution of ZIG utility tokens to more than 80,000 platform participants. So moving forward, the trading platform seeks to increase its influence within the crypto space, through more partnerships. Additionally, through external partnerships, Zignaly aims to leverage its unique ecosystem and reach diverse communities and increase awareness about the Zignaly protocol.
ZIG holders and users will be the main beneficiaries of these partnerships, as they will not only learn about different blockchain projects but also have the tremendous opportunity to earn passive income through airdrop campaigns based on the ZIG holdings for a given period of time.
More on the Cybavo Partnership
ZIG is said to offer a wide array of utilities within the Zignaly platform, notably: In-platform liquidity program/staking/other rewards, NFT-based insurance protocol, Trading fees rebate for the ZIG Holders, and Payment of success in ZIG, while availing exclusive discounts. Furthermore, Zignaly strives to leverage Cybavo’s crypto wallet solution and protocol to “focus on the token utility without reinventing the wheel”.
Cybavo is playing a pivotal role in ZIG and Zignaly development. Zignaly representatives believe that the digital wallet solution is the perfect partner at this stage of the company’s general development. Full trust has been placed on the Cybavo ecosystem; a platform representative explains “ Cybavo will act as custodian, and besides the several layers of airtight security that they have in place, assets on Cybavo are insured (to an extent) by a reputable firm, and the same insurance will be extended to the ZIG”
More on the utility of ZIG
- Governance — This allows ZIG holders to vote on key platform updates and features, giving them power over the development of the platform
- NFT based Insurance Protocol Implementation and Risk Mitigation — 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 — ZIG allows users to leverage the benefits of Zignaly’s profit-sharing platform through co-op ownership of fund manager profits
- Loyalty & Rewards — Here exclusive NFTs unlock loyalty and reward incentives for qualified ZIG stakers, holders, borrowers, and lenders.
Zignaly is a powerful trading and investment platform for numerous cryptocurrencies. The open trading platform empowers traders and users to participate in a decentralized economy effectively. The various tools within the platform allow users to trade, analyze price, place, and manage orders, completely autonomously. Founded in 2018, the platform was built by a highly motivated and diverse team of blockchain experts and developers who leverage the power of the blockchain to bring value to DeFi.
Currently, the company is backed by a number of renowned blockchain investors who have a firm belief in the platform’s capacities to disrupt the crypto ecosystem positively.