In a groundbreaking move that sets a new precedent in the DeFi sector, Zeebu, a leading Web3 payment platform for the telecom industry, is thrilled to announce its upcoming quarterly token burn event, governed by the ZBU Phoenix Protocol and its innovative ‘ZBU Protocol’. This is in a bid to revolutionize the DeFi payments landscape.
Scheduled for August 2, 2024, this event marks the third quarterly token burn and is designed to significantly reduce the circulating supply of ZBU tokens, reinforcing Zeebu’s commitment to maintaining value, ensuring sustainable growth, and setting a new standard in crypto-economics.
Zeebu uses advanced blockchain technology to make telecom settlements faster, more secure, and significantly cheaper for telecom carriers and their partners. The network employs smart contracts to automate and streamline transactions, ensuring accuracy and transparency, and reducing operational costs. The platform is meticulously built to allow telecom companies to integrate seamlessly without extensive development effort.
Since its launch in July 2023, Zeebu has processed an impressive $3 billion in transactions, demonstrating the growing trust and adoption of the Zeebu platform and ZBU tokens by telecom carriers. The ZBU Phoenix Protocol plays a crucial role in this success by strengthening its tokenomics and driving sustainable ecosystem growth. Zeebu is also taking its next step towards further decentralization with the launch of the ZBU Protocol.
The ZBU Phoenix Protocol introduces a transformative approach to cryptocurrency economics, strategically reducing a significant portion of the total supply every quarter. This innovative process mirrors the regenerative cycle of the mythical Phoenix, symbolizing rebirth, renewal, and enduring value.
At its core, the protocol implements a systematic burning mechanism for ZBU tokens used in transactions. This process effectively manages token supply, maintaining ZBU’s efficacy as a settlement medium in the telecom industry. By ensuring a balanced token economy, the Phoenix Protocol addresses potential challenges in the cryptocurrency ecosystem.
Zeebu’s commitment to a sustainable and efficient blockchain-based settlement system is exemplified through this approach. The ZBU Phoenix Protocol not only preserves the functional value of ZBU but also positions Zeebu at the forefront of innovative financial technologies in the telecom sector.
In February 2024, Zeebu conducted its first quarterly burn, processing $714 million in transactions and burning 236 million ZBU which represented 4.73% of the maximum supply. The second quarterly burn in May 2024 saw a substantial increase, with Zeebu processing over $1 billion in transactions and burning 239 million ZBU, marking a remarkable 46.1% growth in transaction volume.
The third quarterly burn in August 2024 is a significant event for the Zeebu ecosystem, projected to process over $1.50 billion in transactions—an approximate 50% increase from the previous quarter.
Reflecting on this growth, Keshav Pandya, COO and co-founder of Zeebu, commented:
Each burn event is a milestone in Zeebu’s evolution. The consistent growth in transaction volume and the amount 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.
In addition to the burn event, Zeebu is taking its next step towards further decentralization with the launch of the ZBU Protocol, an innovative initiative designed to revolutionize decentralized finance (DeFi).
Building on its commitment to decentralization, Zeebu proudly announces the upcoming launch of the ZBU Protocol, poised to become the largest liquidity protocol for B2B settlements. This innovative protocol empowers diverse stakeholders – from Delegators and Deployers to On-Demand Liquidity Providers (OLPs) – by offering substantial annual percentage yields (APY) through Protocol Rewards.
The ZBU Protocol introduces key features that promise to revolutionize B2B settlements. Participants can stake ZBU in the VeZBU pool and provide liquidity in Balancer Pools upon launch, unlocking access to significant Protocol Rewards.
With a projected settlement volume of $14 billion over the next 12 months, participants can anticipate Protocol Rewards totalling approximately $196 million.
Adding to this, 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 designed to evolve symbiotically, driving liquidity, settlement efficiency, and decentralization, forming a robust trust network essential for future growth and stability.
The convergence of ZBU Phoenix Protocol and ZBU Protocol marks a significant milestone in our journey to build a robust and vibrant ecosystem. Our community is the backbone of our success, and our protocols are designed to empower every participant to contribute and thrive. Together, we’re creating a brighter financial future for all.
Keshav Pandya, COO and Co-founder of Zeebu.
Zeebu is a cutting-edge payments and settlement platform designed for the telecom carrier industry, leveraging blockchain technology to enable integrated finance solutions.
By creating a decentralized and transparent ecosystem for voice traffic exchange, Zeebu addresses the traditional challenges of inefficiencies, opaqueness, and trust issues in the telecom wholesale voice industry.
With its rapid settlement times, elimination of intermediaries, and loyalty token rewards, Zeebu is setting new standards for efficiency, cost-effectiveness, and transparency in telecom settlements.
You can learn more about Zeebu by reading our Whitepaper, available here.
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