Zilliqa Launches Non-Custodial Staking on Mainnet: A Game-Changer for DeFi

Zilliqa, the high-performance blockchain platform, has officially launched non-custodial staking services on its mainnet as of 1800 hours Singapore time today. This milestone marks a significant turning point for the platform, aligning with its mission to drive utility, decentralization, and mass adoption within the DeFi landscape.

By enabling ZIL token holders to stake directly through smart contracts, Zilliqa is enhancing its ecosystem’s accessibility and incentivizing active participation among its community and node operators. Here’s everything you need to know about Zilliqa’s unique staking model and how you can maximize its benefits.

What is Non-Custodial Staking on Zilliqa?

Zilliqa’s non-custodial staking eliminates the need for intermediaries by allowing token holders to deposit funds directly into the blockchain’s smart contract. This streamlined process provides participants with full control over their funds, improving security and usability while fostering greater decentralization.

How to Stake ZIL Tokens

ZIL holders can stake their tokens via the following platforms:

1. Zillion: Zilliqa’s secure and user-friendly staking portal.
2. Wallet Providers:
   • Moonlet
   • Frontier Wallet (coming soon)
   • Atomic Wallet (coming soon)

These platforms enable token holders to deposit ZIL tokens, earn rewards, and actively support the Zilliqa network.

Staking Rewards: A Dual Incentive Model

Zilliqa’s staking rewards offer a competitive annual return while introducing the platform’s new governance token, gZIL.

Projected Staking Yields

• 6% Annual Return: Based on 80% of the circulating supply being staked.
• 12% Annual Return: When 40% of the circulating supply is staked.

Introducing gZIL

For every 1,000 ZIL earned as a staking reward, participants receive 1 gZIL, Zilliqa’s fungible governance token.

Key Features of gZIL:

• Governance Power: gZIL enables long-term holders to contribute to decision-making within the Zilliqa ecosystem.
• Limited Supply: Minting is capped at 722,700 gZIL, and issuance will conclude after one year, making it a highly sought-after reward.

Why Choose Zilliqa for Staking?

Zilliqa’s unique approach to staking stands out for several reasons:

1. Decentralization

The network’s seed node architecture, supported by its sharded structure, ensures a high level of decentralization.

2. Reputed SSN Providers

Participants can select from a trusted roster of five Staked Seed Node (SSN) providers, including:

• Moonlet.io
• Shardpool.io
• ViewBlock
• Zillacracy
• Zilliqa’s hosted node

More SSN providers will be introduced in the coming days to further enhance the staking ecosystem.

3. Liquidity Options with Zilswap

Zilliqa’s decentralized exchange, Zilswap, provides additional liquidity for staking rewards. Users can:

• Trade ZIL and gZIL rewards.
• Re-stake rewards for compound earnings.
• Participate in staking pools for diversified returns.

Security and Reliability

Zilliqa’s staking contract has undergone rigorous auditing by PwC to ensure the highest standards of security and usability. The platform has also incorporated community feedback from public beta testing, resulting in an enhanced staking experience.

Staking Milestones: Phase I Launch

The launch of non-custodial staking represents Phase I of Zilliqa’s seed node staking program, following the successful completion of Phase 0, which included exchange-enabled staking through KuCoin and Binance.

Getting Started with Zilliqa Staking

Step-by-Step Guide:

1. Select Your Platform: Choose Zillion or a supported wallet.
2. Deposit Funds: Stake your ZIL tokens directly into the smart contract.
3. Earn Rewards: Start accruing staking rewards and gZIL tokens.
4. Reinvest or Trade: Use Zilswap to trade or re-stake your rewards.

Upcoming Campaigns and Incentives

To celebrate the launch, Zilliqa is hosting several promotional campaigns on platforms like Zeeves and Twitter. Stay tuned for exciting contests and giveaways that reward community engagement.

FAQs About Zilliqa Non-Custodial Staking

1. What is Zilliqa’s non-custodial staking?
It allows ZIL holders to stake directly through smart contracts without relying on intermediaries, enhancing security and decentralization.

2. What is gZIL, and why is it important?
gZIL is a governance token earned alongside staking rewards. It empowers holders to participate in ecosystem decision-making and has a limited supply.

3. What are the staking rewards on Zilliqa?
Projected annual returns are around 6% with 80% circulating supply staked and up to 12% with 40% staked.

4. What is Zilswap’s role in staking?
Zilswap provides liquidity by allowing users to trade, re-stake, or pool ZIL and gZIL rewards.

5. How do I start staking on Zilliqa?
Choose a platform like Zillion or Moonlet, deposit ZIL tokens into the smart contract, and start earning rewards.

6. Is Zilliqa staking secure?
Yes, Zilliqa’s staking contracts have been audited by PwC and refined through community feedback to ensure a reliable experience.

Conclusion

The launch of non-custodial staking on Zilliqa is a transformative step for the platform and the broader DeFi ecosystem. By empowering users with direct staking options, introducing gZIL for governance, and providing liquidity through Zilswap, Zilliqa is positioning itself as a leader in blockchain innovation.

With competitive rewards, robust security, and a focus on community engagement, now is the perfect time to stake your ZIL tokens and become an active participant in Zilliqa’s growing ecosystem.

To explore more about staking and DeFi opportunities, check out our article on blockchain innovations, where we dive into the latest trends and advancements in the crypto world.