daily.dgb

We know it's not great. For nine years we built and ran our own Layer 1. It hasn't worked. We're not giving up. Here's the first of many next steps in a new direction: Zilliqa is becoming the Zilliqa Institutional Layer (ZIL): an Ethereum Layer 2 for regulated institutions. Usage never reached what a standalone chain needs. Funding and liquidity for standalone L1s dried up. The recent hacks showed how much it takes to secure a chain alone. The data is onchain for everyone to see. We keep what was great: our partnerships, our community and one token, ZIL. We cut what isn't working. We stop fighting alone. We start with a new identity, a new goal and a new path. What we are building: - Settlement secured by Ethereum. - Identity and compliance built into the network, through vLEIs. - A permissioned market where verified institutions trade with each other. Institutions first, later individuals and agents. Our partners are even more committed to this future. @ltin_li, the state-backed trust network in Liechtenstein, will operate the sequencer and is becoming a qualified vLEI issuer. ZIL holders: this move needs no action from you today. We will publish the technical details before anything changes. Any claim, swap or migration is announced on zilliqa.com first. If it's not there, it's not real. Zilliqa isn't going away. We fight another day.