Welcome back to Zilliqa Zebra. In this short video, I am going to explain to you what ZILO or ZilSwap Initial Launch Offering is all about.
And before I carry on, please don't forget to LIKE and SUBSCRIBE to Zilliqa Zebra for your usual dose of short educational visual clips on Zilliqa, simplified for your understanding.
ZilSwap Initial Launch Offering (ZILO) is a platform where ZWAP holders can participate in new token launches on ZilSwap. The first token launch is the STREAM token.
While ZILO is LIVE with a token offer, you can commit both ZWAP and ZIL tokens based on a 30% : 70% ratio at zilswap.io/zilo
The system is designed to prevent impermanent loss by allowing the committing of both ZWAP and ZIL tokens directly.
By using the Overflow method, users can subscribe as little or as much as they wish to via ZILO. The final allocation will be calculated based on the following formula, which is basically a percentage of the overall funds committed.
For this reason, if your committment is too small and becomes negliible, you may not qualify for the new tokens. Nevertheless you will be able to claim back all ZWAP and ZIL tokens you have committed in the process.
For a ZILO to push through successfully, the total amount raised during the ZILO must hit the minimum 17.5% threshold. Otherwise, all funds contributed less transaction fees can be claimed back.
STREAM token will be launched on 18 June for an amount of $342,857 USD, which is 12% of the total supply at 2.4 million tokens.
The utility of STREAM is for ZilStream users to hold $1 of STREAM for every $200 of value in their portfolio to enjoy the premium features such as tracking fees, rewards, pillar loans as well as price alerts.
This is the current details made available so far. This seems to be an exciting offering for STREAM as well as using ZilSwap for token launch, which will without doubt create more real use cases and utility for the Zilliqa ecosystem. Great job!
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