Leading player in the Web3 payment space, Zeebu has revealed the date of its next quarterly token burn event. The third quarterly token burn event, governed by the ZBU Phoenix Protocol and the upcoming launch of its innovative ‘ZBU Protocol’, is primed to set a new precedent for the DeFi sector.
August 2, 2024, is the third quarterly burn date for the project. The goal of the action is to significantly reduce the circulating supply of tokens in use. Zeebu’s dedication to safeguarding value and guaranteeing steady growth will be exemplified by this move, which will also establish a new benchmark for the cryptocurrency sector.
The project, launched in July 2023, has processed settlements totaling an incredible $3 billion in just a year since its debut. Telecom carriers and operators are becoming more confident in and embracing the Zeebu platform and ZBU tokens. The ZBU Phoenix Protocol has been a key contributor to this success, the initiative has promoted sustainable ecosystem growth and established a benchmark for strong tokenomics.
An additional step in the direction of decentralization is the establishment of the ZBU Protocol.
ZBU Phoenix Protocol: Setting a New Standard in Crypto Economics
Every quarter, the ZBU Phoenix Protocol systematically reduces a sizeable fraction of the total supply. The move has introduced a revolutionary approach to cryptocurrency economics. The cycle hereby represents rebirth, rejuvenation, and eternal value and symbolizes the regeneration of the mythical Phoenix.
The initiative is designed to perform a regular token burn every quarter. The process helps to maintain the value of the ZBU token as a settlement medium for the telecommunications sector. It also helps keep the token supply in check. The Phoenix Protocol is built to resolve issues with cryptocurrency volatility and ensure the balance of the token economy.
The move is in line with the project’s goal of creating a reliable and efficient blockchain-based settlement system. Zeebu is now at the forefront of innovative finance technology for the telecom industry thanks to the ZBU Phoenix Protocol.
Zeebu executed its first-ever quarterly burn in February 2024, handling $714 million in transactions and burning 236 million ZBU, or 4.73% of the total supply. The platform processed over $1 billion in transactions during the second quarterly burn in May 2024, burning 239 million ZBU. The figure represents a phenomenal 46.1% increase in transaction volume.
The third quarterly burn in August 2024 marks a significant milestone for the project. The Zeebu ecosystem is projected to process over $1.5 billion in transactions, an approximate 50% increase from the previous quarter.
According to Keshav Pandya, COO and co-founder of Zeebu, “Each burn event is a milestone in Zeebu’s evolution. The consistent growth in transaction volume and the number of tokens burned demonstrate the increasing utility and trust in our platform. Our innovative approach ensures a stable and reliable presence for ZBU, safeguarding its effectiveness and fostering long-term growth.”
Zeebu announces the launch of the ‘ZBU Protocol’: Unlocking $196M in Potential Rewards for B2B Settlements
The project has also announced the upcoming launch of the ZBU Protocol. The protocol aims to become the largest liquidity protocol for B2B settlements. The initiative aims to give substantial annual percentage yields (APY) through Protocol Rewards to stakeholders, such as On-Demand Liquidity Providers (OLPs), Delegators, and Deployers, to empower them.
Participants can stake ZBU in the VeZBU pool and provide liquidity in Balancer Pools upon launch. This will unlock access to significant Protocol Rewards.
The project hopes to reach a settlement volume of $14 billion within the next year, totaling approximately $196 billion in protocol rewards anticipated for participants.
Raj Brahmbhatt, CEO and founder of Zeebu stated, “With the ZBU Protocol, we’re unlocking the full potential of DeFi, supporting larger-use cases and real-world applications that will bring tangible value to institutions, businesses, and individuals alike. This milestone marks a significant step forward in our mission to bridge the gap between traditional finance and decentralized innovation, and we’re excited to see the transformative impact it will have on the industry.”
The ZBU Phoenix Protocol and ZBU Protocol are intrinsically linked. Both are designed to coexist and develop alongside one another. The initiatives are designed to encourage decentralization, settlement efficiency, liquidity, and the establishment of a robust trust network. All these factors are essential for long-term stability and growth.
About Zeebu
Zeebu makes telecom settlements faster, more secure, and substantially less expensive for telecom carriers and their partners. The project does this by utilizing cutting-edge blockchain technology. Transactions are accelerated and automated with smart contracts. This further ensures accuracy and transparency while also reducing costs. The platform is thoughtfully built to facilitate seamless integration for telecom companies without necessitating a large amount of development work.
To learn more about the project, you can read their Whitepaper, or visit their website.
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