Review on zzz.finance by Benaiah A. Akinlade
ZZZ: Staking more claims for Community driven projects
In recent times, there have been a lot of attacks on DeFi, and this have prompted a new innovation of making community driven DeFi projects where decisions on assets depends on the agreements of all members the community, so an individual can not make a personal decision to move assets that belongs to investors in the community. This ensures fairness in dealings.
One of such projects is ZZZ finance which was deployed on 10th August, 2020 where the decisions are made by members of the community to assure everyone of equity. The project is designed mimic the features of Yearn Finance. On ZZZ, emphasis is on technological advancement and innovations as well as entrepreneurial developments.
The ZZZ token is an ERC20 token of the Ethereum blockchain with a circulating and total supply of 20,000. You can earn the token through several means which includes Staking and airdrops. The token directly trades and swaps with Ethereum and USDT and it’s listed on crypto exchanges such as UNISWAP and Cointiger
In order to show transparency in their activities, ZZZ finance announced that the project’s audit by CERTIK started on 9th September 2020.
The contributions and innovations of the community members is an important deciding factor in determining the value of ZZZ
.
It is yet to be seen if this project is going to stick around for the long run although there are encouraging signs such as its high trading value which is due to its low number of tokens in circulation.
I’ll keep a close look on this project to see how solid it becomes on the long run.
Pros
- The project is driven by the community
- The project token has a good trading value
- The project is showing transparency in its activities
- Token can be earned through airdrops & staking
Cons
- The project is still new and yet to be tested
- The token trades on few exchanges
- The token currently swaps with ETH and USDT
- Few tokens in circulation makes it expensive to purchase
