Welcome to our latest update on the development of the Zephyr Protocol. If you’re new to our community, here’s a brief overview of what we’re building.
Zephyr Protocol is a Proof-of-Work (PoW) project dedicated to merging the privacy functionalities of Monero with Djed, an established over-collateralized stablecoin protocol. For more in-depth information, please refer to these articles:
Launched on May 29, 2023, the Zephyr Protocol is set to release our Public Testnet on August 1, 2023 — a significant milestone just two months post-launch. We have been overwhelmed by the community’s shared enthusiasm for our vision of an over-collateralized stablecoin protocol.
ZEPH Price: $2.00–$2.50Market Cap: $2M–3MSupply: 1.1M ZEPHHashrate: 600–900 MH/s**Discord:** 1.4k+ MembersTwitter: 850+ FollowersTelegram: 450+ Members
We are incredibly proud of our burgeoning community that has grown organically through grassroots efforts and word-of-mouth. As a community-centric project, we’ve been able to expand without resorting to paid promotions. We are committed to steady, sustainable growth, and our marketing strategy reflects this philosophy. We aim to avoid the pitfalls of hasty growth, such as FOMO, substantial market volatility, and disenfranchised investors. Zephyr Protocol is a marathon, not a sprint.
You can currently trade ZEPH on the following platforms:
Seven Seas: https://www.sevenseas.exchange/market/ZEPH-USDTNonKYC: https://nonkyc.io/market/ZEPH_USDTTxbit: https://txbit.io/Trade/ZEPH/USDTTradeOrge: https://tradeogre.com/exchange/ZEPH-BTCXeggex: https://xeggex.com/market/ZEPH_USDT
Our community’s voice matters. That’s why we opened the floor to our Discord members to discuss future listings and strategies. The conversations held in the #cex-discussion channel and through private DMs have been invaluable:
A new listing from a larger Centralized Exchange (CEX) is a logical next step for Zephyr, as it would open a new pathway for expanding our user base. We’ve received substantial interest from listing managers from various prominent exchanges, which leaves us confident about future collaborations.
However, considering the current focus on the upcoming Public Testnet and the costs associated with listings, we’ve decided to avoid aggressive pursuit of new listings for now. Our immediate priority is the Testnet and maintaining the integrity of our treasury fund. Hence, our listing approach will emphasize cost-effectiveness, with a preference for free or low-cost options.
We’re thrilled to announce that the core functionalities of Zephyr’s private, untraceable, over-collateralized protocol are now ready for exploration! Come August 1st, we’ll be releasing the first Zephyr Protocol testnet. Stay tuned for announcements and download links to take part in this exciting milestone.
During the testnet phase, you will have hands-on experience with four new types of transactions integral to the Zephyr Protocol:
Mint Stablecoins: Zeph -> ZephUSDRedeem Stablecoins: ZephUSD -> Zeph**Mint Reserve coins: Zeph -> ZephRSVRedeem Reserve coins: **ZephRSV -> Zeph
Both the Command Line Interface (CLI) and the new GUI wallet will feature functionalities to display current protocol information, such as the amount of Zeph in reserve, the assets, liabilities, equity, and reserve ratios. This will allow you to familiarize yourself with the key mechanisms that drive the Zephyr Protocol and the rules that govern it.
To get involved, receive coins for testing, and participate in discussions, we invite you to join our Discord Server.
A vital aspect of the testnet phase is to stress-test our protocol. If you are an experienced developer and you identify any critical bugs within the protocol, we urge you to reach out to us. We are prepared to offer rewards relative to the severity of the identified issue!
Feel free to reach out to us on Discord to discuss or for more information!
We’re excited to announce that our mainnet release will feature a new wallet, with a testnet version set to be made available for the community on August 1st.
Keen observers among you will notice that the new wallet’s core has been adapted from the exceptional Haven Protocol wallet which was a perfect base for us!