Place/Date: - July 1st, 2022 at 9:55 am UTC · 3 min read
Zenith, also known as Zenith.Finance, is Cube Network’s first lending protocol. The project aims to build a leading Web3 lending platform in the Cube Network ecosystem, and provide an all-in-one peer-to-peer lending solution centered on decentralization and transparency, in order to ensure maximum reliability for users.
Zenith’s goal is to improve capital efficiency and provide a solid backup for CRC assets in the Cube Network ecosystem. Zenith will facilitate borrowing and lending money markets across a set number of assets. Users will be able to lend any supported assets on Zenith’s markets and use their tokens as collateral to borrow more funds. Zenith was audited by Armors, a well-known blockchain security company.
Zenith Token (ZNT) is Zenith’s official token. After users deposit their funds on Zenith or borrow tokens from the platform, they can receive ZNT tokens, which can be subsequently used for staking, fees, votes, etc.
|Team||18,000,000||18%||6-month cliff, 24-month linear vesting|
|Private Sale||10,000,000||10%||10% TGE, 3-month Cliff, 18-month linear vesting|
|IFO||500,000||0.5%||Distribution on a DEX|
|Marketing||3,000,000||3%||33% TGE, 24-month Cliff (Linear)|
|Early Bird Airdrop||1,000,000||1%||Unlocked|
|Initial Liquidity||1,500,000||1.5%||Locked in DEX|
|Community||56,000,000||56%||Output, with the block decided according to the business situation|
|Reserve for Future||10,000,000||10%||6-month Cliff, 24-month linear vesting|
According to Zenith’s roadmap, it will further improve its proxy mechanism for V2, in order to become a lending protocol with a more decentralized governance structure.
In the V2 phase, ZNT will be given voting privileges and Zenith will hand back all governance control to the community. ZNT can be viewed as a uniform type of tokenized liquidity in this sense. It serves as a visual representation of the flexibility with which liquidity can be directed towards any deposited LP assets.
A user who stakes ZNT into the protocol is granted votes proportional to the number of ZNT tokens staked, which can subsequently be distributed among any number of token reactors operating in the system.
The control of Zenith’s R&D team will be minimized and Zenith’s development will represent the will of the users and the community. This also means that Zenith will be given great flexibility to respond quickly and positively to market dynamics.
With the growth of DeFi, more and more DeFi users have started to develop liquidity needs, thus giving rise to more and more lending protocols in the market. And while there are several top-tier lending protocols such as Maker DAO, Aave, and Compound, none of them can ensure that the DeFi market for lending protocols will mature, or that no new changes will occur. This is because there are several problems remaining with most lending protocols, such as imperfect decentralized governance structures.
The emergence of Zenith not only further improves Cube Network’s product ecosystem, but also enriches the existing market for lending protocols and offers more possibilities to DeFi users.
In the future, Zenith will act as a crypto bank for the Cube Network ecosystem or even in the DeFi market as a whole, helping different products to improve efficiency for their resources and funds. In other words, Zenith will become a main engine for Cube Network.