ZKCross uses the veToken model, which is similar to curve finance. This model has been battle-tested with billions of dollars and attracted a thriving ecosystem around it.
There are two tokens of ZKCross: $ZKC and $veZKC.
$ZKC is the ZKCross DAO token. The main purpose of $ZKC is to incentivize the ZKCross community, including liquidity providers and node operators, and get as many users involved as possible in the protocol's governance.
The total supply of $ZKC is: 1,000,000,000
Token Distribution and Schedule
10% Marketing, Initial Liquidity, Airdrop
Team & Advisors: 1-year cliff, followed by a 3-year linear vesting period.
Seed investors: 10% TGE, rest vest in 24 months on a quarterly basis.
A-round investors: 15% TGE, rest vest in 18 months on a quarterly basis.
A community-managed treasury opens up a world of infinite possibilities. We hope to see a variety of experimentation, including ecosystem grants and public goods funding, which can foster additional ZKCross ecosystem growth.
The community treasury will retain 51% of the $ZKC supply to distribute on an ongoing basis through contributor grants, community initiatives, liquidity mining, and other programs.
ZKCross community members control all $ZKC in the community treasury through voting governance.
veZKC stands for vote-escrowed ZKC. It is a certificate of your ZKC locked for some time. Anyone intent to get veZKC can lock ZKC for any time between 1 year and four years.
After the ZKC token is locked, the token holders will have a non-zero balance of veZKC. The longer you lock ZKC, the more veZKC you receive.
All ZKCross votes will be done based on voters' veZKC balances instead of ZKC balances. This ensures long-term alignment as only users locking $ZKC can participate in ZKCross’ governance and community treasury allocation.
Any distribution of ZKC in community treasury, including grants, strategic partnerships, governance initiatives, liquidity minings, reward weight setting, and other programs, has to pass through the governance process via voting.
A percentage of fees collected by ZKCross will be distributed to veZKC holders through community lead DAO proposals.
Another main benefit for veZKC is the ability to boost your rewards on provided liquidity, node operators, or any other incentives you get from ZKCross Ecosystem.