ZetaChain (ZETA) will unlock 53.89 million tokens at 8:00 on September 1, worth approximately $33 million, accounting for 15.71% of the circulation;
You should know that in 21 years, only 8% of SOL was unlocked, but there was a drop of more than 10%.
ZetaChain (ZETA) is a brand new Layer 1 blockchain that focuses on achieving inter-chain interoperability. It allows developers to build decentralized applications that can operate across chains by supporting multi-chain smart contracts. This feature gives ZetaChain a unique advantage in the field of DeFi and cross-chain value transfer.
ZetaChain's technical architecture is based on the Cosmos SDK and uses the Tendermint consensus engine with an execution layer compatible with the EVM (Ethereum Virtual Machine). The platform aims to solve the fragmentation problem between blockchains and achieve seamless cross-chain asset transfer and messaging.
2. The role of the ZETA token
ZETA token is the native token of ZetaChain and is mainly used in the following aspects:
Staking: Staking used to verify nodes to ensure network security.
Paying Gas Fees: Transaction fees on the ZetaChain network are paid in ZETA.
Governance: ZETA holders can participate in network governance decisions.
Cross-chain value exchange: ZETA tokens serve as the core value carrier in cross-chain transfers, enabling seamless transfer of assets between different blockchains.
🚀Such a high amount of unlocking will inevitably lead to a sharp drop in prices.
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