ZetaChain (ZETA)?

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3 Feb 2024
43


ZetaChain is a decentralized and public blockchain network that enables omnichain, generic smart contracts, and messaging between any blockchain. ZetaChain's key features include hyper-connected nodes, omnichain smart contracts, cross-chain message passing, and managed external assets. The network functionality provides a complete platform for developers to create future-proof, chain-agnostic apps and more with a single deployment on ZetaChain.
The Zeta Token (ZETA) is the native cryptocurrency of the ZetaChain platform. It plays a key role in incentivizing and securing the protocol through fixed block rewards/incentives emissions to validators, and transaction (gas) fees paid in ZETA are distributed to validators, delegators, and other network participants in the Proof of Stake, protecting the network from spam and DDOS attacks. ZETA is also used for cross-chain messaging and in core liquidity pools comprised of ZETA and other external chain assets. Liquidity providers receive trading fees and other liquidity incentives to provide liquidity for this in the form of native tokens, like native gas tokens.
ZETA has a total initial supply of 2,100,000,000 and after approximately 4 years based on a set curve, the protocol will initiate a target of ~2.5% yearly inflation based on the current circulating supply to sustain the network into the future. ZetaChain also has a governance model that allows for upgrades into additional monetary policy, among other network modifications, to further its goal of long-term sustainability and to adjust based on ecosystem needs.
ZETA is used as gas for ZetaChain's omnichain smart contracts layer and internal transactions. With transactions like EIP 1559, some ZETA is burned over time. ZETA is also used in core pools that the protocol uses to exchange for external ZRC-20 gas assets to pay for and write outbound transactions to external chains.
ZETA is used as a cross-chain intermediary asset through messaging. When a cross-chain message is sent, a dApp/user attaches ZETA in their message to represent value and to pay for all gas and transaction fees in a single bundle. ZETA is also exchanged on the core pools to pay for outbound gas.
ZETA is core to securing the PoS blockchain. Validators stake and users may delegate ZETA to validators, earning block emissions. ZETA is also used for voting in governance proposals related to network and policy upgrades, among other things.
Overall, the ZetaChain ecosystem offers a comprehensive suite of products and services that cater to various aspects of the digital asset ecosystem. With its advanced features and functionalities, ZetaChain provides a platform for developers to create future-proof, chain-agnostic apps and more with a single deployment on ZetaChain. The ZETA token plays a critical role in incentivizing and securing the network, while also serving as a cross-chain intermediary asset through messaging and in core liquidity pools. With its governance model, ZetaChain is well-positioned to adjust based on ecosystem needs and ensure long-term sustainability.

Resources:
https://www.zetachain.com/
https://www.zetachain.com/docs/about/zetachain/
https://www.zetachain.com/whitepaper.pdf

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