ZYN is the indigenous cryptocurrency of Wethio and holds its place as the cryptocurrency for all third-party apps running on Wethio. It is the protocol token for the Wethio infrastructure that is needed by all parties utilizing Wethio to develop apps or issue and integrate cryptographic tokens into their apps.
The supply of ZYN is fixed, long-term and non-inflationary.
Below are few more reasons that establishes ZYN as an integral part of the Wethio network
To fund the development of Wethio and its ecosystem (WethioScan, WethioMaster, WethioWallet, etc.) To be used as a reward to incentivize the building of the Wethio engine/ecosystem *To be used as a long-term, decentralized governance instrument of the Wethio network
You can check our technical whitepaper for more details.
ZYN is not mineable but mintable by Masternodes. Masternodes are responsible for holding its native crypto token i.e. Zyncecoin. They are responsible for implementing reward procrssing by creating, verifying, and finalizing the blocks created within a period, called epoch. Masternodes and Stakers will receive block rewards.
The initial circulating supply at genesis block is 55,000,000 but the current circulating supply is increasing every epoch.
After 8 years, ZYN total supply is fixed at 100,000,000 ZYN.
The token allocation is split as follows:
55 millions ZYN was already allocated after the token sale period;
12 millions ZYN are reserved for the team vested over the next 4 years;
16 millions ZYN are reserved for strategic partners and an ecosystem building fund;
17 millions ZYN are reserved as block rewards for the next 8 years
17 millions ZYN are reserved as block rewards for the next 8 years.
1st and 2nd year: 4 million ZYN annually
3rd, 4th and 5th year: 2 million ZYN annually
6th, 7th and 8th year: 1 million ZYN annually
Will Wethio have inflation?
The total supply is fixed at 100 million ZYN for the first 8 years (non-inflationary). Out of which the 17 million ZYN, reserved as block rewards, will be distributed after 8 years. At that time, we are expecting that block rewards will come from the exchange fees. However, the Masternode Council can make a decision to increase the total supply by 0.5-1 million ZYN per year (which will be used as block rewards) (~small inflation, 0.5%-1% annually).
How often are block rewards paid out?
Block rewards will be earned every epoch, which lasts for 900 of two-second-block time (~30 minutes). Both Masternode operators and takers get rewarded.
If Wethio has zero fees, how can Masternodes get rewards?
The block rewards will be distributed from the reserved fund of 17 million ZYN for the first 8 years.
The block rewards are as follows:
1st and 2nd year: 4 million ZYN annually
3rd, 4th and 5th year: 2 million ZYN annually
6th, 7th and 8th year: 1 million ZYN annually
We plan to have a built-in DEX, the revenues from the DEX will go to the Masternodes as well.
Post the period of 8 years, the block rewards will be earned from the exchange fees. Also, the Masternode Council can decide to increase the total supply by 0.5-1 million ZYN per year (which will be used as block rewards).
Presale Price: $0.2
ICO Price: $0.25 (0.0003125 ETH)
Since Mainnet, ZYN has become the native coin of the Wethio blockchain.
Where to store ZYN? How can I send ZYN to my wallet?
You can store ZYN in Wethio, TrustWallet, MetaMask, MyEtherWallet, Ledger and Trezor and more wallets
We recommend storing ZYN in WethioWallet.
Yes. MyEtherWallet has WethioChain in the supported network list now. ZYN holders can send ZYN using MyEtherWallet after switching the network to Wethio.
The following information is used for configuring Metamask to connect to Wethio Mainnet.
RPC endpoint: https://dev.wallet.wethio.io/services
Chain ID: 77
Symbol: ZYN
Network Name: Wethio Mainnet
Wethio is now supported by MyEtherWallet. All you need to do is to choose Network ZYNas the supported network list in MyEtherWallet.
You can find the info about our Mainnet or Testnet on our Networks page.
Also, you can find out more detailed information about how to use different wallet types to connect to Wethio Mainnet on Connect your wallet​
You can trade ZYN on various exchanges.