An Introduction to zilWatch
zilWatch.io is a free-to-use comprehensive smart dashboard that aims to be the one-stop solution for all things in Zilliqa. To meet the ever-growing needs of Zilliqans, the dashboard has rapidly evolved since launch and now supports the following features:
- Tracking of ZILs and ZRC-2 tokens in users’ wallets, liquidity pool farms, and staked tokens (with multi-currency)
- Swapping of tokens directly on the dashboard (via ZilSwap)
- Display of full ZRC-2 token information (e.g., full historical price chart, high-low, market cap, farming APR information, and more);
- NFT explorer that consolidates various NFT collections on Zilliqa; and
- zilWatchBot (Telegram Bot) which sends personalized alerts to users on price movements and more.
We are committed to building inclusive products that will benefit all Zilliqans, and we will continue to do so through the creation of a self-sustaining economy for zilWatch and powered by our very own utility token ($ZWT).
What is ZWT?
Similar to how tech giants like Google are able to provide their services (YouTube, Gmail, etc) for free, zilWatch will create a self-sustaining model by weaving non-intrusive advertisements into the products — banner ads in the dashboard and text ads in zilWatchBot — all powered by $ZWT.
1 | Decentralized Advertising
We believe in empowering other projects by giving them the ability to have additional visibility with users. A custom decentralized bid platform — powered by $ZWT — will be built for advertisers on zilWatch. Here is an overview of how it will work:
- For each advertisement cycle, start and end block numbers will be selected for the Auction and Advertisement Period
- Advertisers will then be required to place a bid in the advertising smart contract, using $ZWT higher than the previous bid
- Advertisers can then claim their $ZWT back from the contract if they get outbidded
- Advertisers with the highest bid by the auction’s end block will win the advertisement auction
As there is more than one advertisement spot on zilWatch, there may be more than one auction winner for a single auction (e.g., we might have N-highest bidder winning the auction). This process is fully decentralized and will benefit the Zilliqa network as each bid placed is a smart contract transaction. More details will be released before the launch of the feature.
2 | A Self-Sustaining Economy
In order for the platform to be self-sustaining and be able to continuously provide rewards to LP-ers and stakers without having to mint new tokens, $ZWT tokens obtained from the advertisement auctions will be split accordingly:
- 60% goes into staking and liquidity reward pool (in equal ratio)*
- 20% goes to zilWatch team
- 20% to be burnt forever
*All goes to liquidity reward pool before staking is implemented
3 | Shape the Future of ZilWatch
zilWatch is a dashboard by the people, for the people. Aside from keeping the dashboard up-to-date to remain relevant with developments in the Zilliqa network, the zilWatch team is currently working on the following features:
- A fully-decentralised auction and advertisement module
- Token staking
In the future, ZWT holders can help play an integral part in shaping the zilWatch product by suggesting and voting on new features they would like to see on zilWatch first.
ZWT will launch through ZILO on 10th of February 2022. Details in https://docs.zilswap.io/zilo/overview/05-zilwatch
Token address: zil1qjt4t7w2006x34yjrnsdlc9q4v0eusltrg86jy
ZWT will have a fixed total supply of 10,000,000 ZWT, of which 4,500,000 ZWT will be circulating after the liquidity offering.
- Initial sale (33%): 3,300,000
- Initial liquidity (12%): 1,200,000
- Liquidity rewards (20%): 2,000,000 (linearly decreasing curve, over 36 months)
- Marketing & operations (15%): 1,500,000 (Vested monthly over 24 months)
- Team (15%): 1,500,000 (Vested quarterly over 24 months)
- Advisor (5%): 500,000 (Vested quarterly over 24 months)
Linearly decreasing reward curve
We adopt linearly decreasing reward curve to prevent sudden loss in APR (for LP-ers) at the end of the liquidity reward period. Illustration of how it works:
- Total Liquidity Reward: 2,000,000 ZWT
- Total period: 36 months
- Reduction of reward every month: 3,003 ZWT
- 1st month: 108,108 ZWT
- 2nd month: 105,105 ZWT
- 3rd month: 102,102 ZWT
- 35th month: 6,006 ZWT
- 36th month: 3,003 ZWT
- 37th month: 0 ZWT
Join our community
Please join us for the most up-to-date news, discussions, and we always welcome your feedback!
Telegram Announcement: https://t.me/zilWatch_announcement