ZENCHAIN - A ONE-STOP SOLUTION PLATFORM FOR ALL DEFI SHORTFALLS | by Freemanor

4 min readMay 21, 2021

ZENCHAIN - A ONE-STOP SOLUTION PLATFORM FOR ALL DEFI SHORTFALLS

Before the emergence of Cryptocurrency, a virtual currency so to say, most transactions were not done without the banking industry serving as a middle man.

The intermediary services of the banking industry even till today is associated with delay, high service charges, queueing stress and a bunch of other discomforts. It is really time-consuming and involving, considering how fast this generation is.

Thank goodness, virtual currencies are now used on daily basis for exchange of goods and services with so much ease; you can foot bills or get paid comfortably even on your bed without stress.

It's crystal clear that the purpose of crypto currency is to give people the controlling power over their finances, and this cannot be achieved without a unique aspect of blockchain called decentralized finance (Defi).

In simple terms, Defi allows participants, investors, customers, etc. full control over their funds at any given time, no third party services, open access to audit protocols and a chance of creating new financial products.

Defi has experienced massive growth, BUT not without its risks resulting in loss of crypto assets.

Defi is seriously suffering from scalability problems; high transaction fees when congestion occurs and time-consuming experience for a transaction to be confirmed.

Vulnerability is high for many Defi projects with smart contracts. We all know that a simple mistake in a smart contract is loss of funds, this is really risky!

Also, Defi is without insurance and very low interoperability among different blockchains. Interoperating with different blockchains like Bitcoin, Ethereum, BSC,etc, for instance is not pretty simple for some projects.

INTRODUCING ZENCHAIN - THE BLOCKCHAIN SPECIALLY DESIGNED FOR DEFI AND NON-FUNGIBLE TOKENS (NFTs).

ZenChain with the aim to tackle Defi challenges is a blockchain with all core Defi applications not as the ones written by smart contracts like swap, lending and insurance dapp, but one that uniquely supports NFTs like minting, auctions and trading.

ZenChain is out to give quality and reliable services by providing solutions to the Defi shortfalls aforementioned. Let's dive in!

SCALABLE, HIGH-THROUGHPUT BLOCKCHAIN:

Developers can have preferred features of ethereum and simultaneously enjoy positive effects from Tendermint's PoS (Proof-of-stake) implementation when the said PoS and ethereum are made compatible and interoperable.

It should be noted that ZenChain uses Cosmos SDK which runs on top of the Tendermint Core consensus engine, it therefore means exchange of values with the rest of the Cosmos Ecosystem through the inter Blockchain Communication Protocol (IBC) will be possible and achievable.

For note-taking, some ZenChain's key features:

Web3 compatibility
High throughput via Tendermint Core
Horizontal scalability via IBC
Fast transaction finality

CROSS-CHAIN SOLUTIONS:

There are two types of solution when transfer of tokens across public blockchain is involved:

With Zenbridge module, transfer of tokens (ETH, ERC20, DOT, TRX, BEP20, etc) from different blockchains like Ethereum, Polkadot, Binance Smart Chain, Tron, etc will be done with ease and result-yielding situation.

Inter-blockchain Communication Protocol (IBC) Solution:

This will be a boom when ZenChain will enable cross-chain transfer via Tendermint IBC.

DECENTRALIZED ORACLES:

ZenChain is equipped with the technical know-how for importing and simplifying off- chain data into blockchain virtual machines.

ZenChain DEFI PRIMITIVES BUILT-IN:

Core values expected for innovative and effective decentralized exchanges for traders is certained on ZenChain's platform.

Traders will be provided with options to lend, swap, borrow and insurance offer for investors as stable coin will be used in the ecosystem to aid liquidity.

NON-FUNGIBLE TOKEN APPLICATIONS:

Over here, investors can enjoy varieties of games, can mint and manage their individual NFTs with the power of blockchain.

Users are allowed to bring blockchain digital products for auction, and NFTs can be given out for renting instead of selling out. Believe me, ZenChain is where passive income is obtainable for anyone interested.

NFTs X DEFI:

To simply put, if you own NFTs, staking, borrowing and other benefitting events are well programmed by ZenChain for your pleasure.

TOKEN SALES AND ECONOMICS:

Public IDO - 5%

Early Contributors - 8%

Strategic Partners - 20%

Team - 5%

Advisors - 2%

Ecosystem Development - 33%

Community Growth - 10%

Liquidity and Staking - 17%

NB: Percentages are to be calculated with respect to total token supply.

Further Token Details include:

Token type - BEP20 & ERC20

Issuance price - TBA

Total Token supply - 100,000,000 ZEN

Initial circ supply - 1,200,000 ZEN

Initial Market Cap - $360.000

Unsold/Unused Token - Burn

ZEN will be used for exchange value fee, liquidity mining and staking. There are other use cases of ZEN token. Links available down the page will convey a lot for this.

CONCLUSION:

ZenChain is the solution to Defi challenges.

In ZenChain, your funds are safe and absolute peace of mind is certained.

It is a one-stop place for your swapping, borrowing, lending, renting and other useful Defi options expected in a well loaded platform.

Lastly, ZenChain platform gives you the opportunity to earn passive income while sleeping and it's so nice that it is a win-win situation. Take a step!

Useful Links:

Author's Information:

Name:

Francis Akpadiaha

Forum Username:

Pope Francis