Zcash is a privacy-preserving cryptocurrency providing anonymous value transfer using zero-knowledge cryptography. The protocol provides the option for transactions to be either shielded, in which case they will be completely anonymous, or transparent, in which case they will be visible on the Zcash blockchain.
Zcash is a wealthy and self-funding network, where slices of the mining rewards is distributed as follows.
Zcash is also a stock-market tradeable asset through the Grayscale $ZCSH product
As you can see Zcash has very strong backing by well respected crypto OGs and is in a early-stage booming expansion through partnerships with other cryptocurrencies and market-led focus.
Believe it or not, but Zcash and DeFi is basically inexistant. However, I can witness there is demand for DeFi, because people often ask in our Zcash community telegram what they can do with their $ZEC (I am a Community admin, btw).
So, we are currently in a chicken and egg problem and I want to change the status quo with your kind help !
Also take a look at this tweet and you have my exact same feeling about Zcash.
I would like to be able to say the exact same thing about Zcash in a few month : borrowing from Zcash is very likely to be life-changing and I write this proposal to :
- bootstrap DeFi with Zcash
- enable Zcash holders to grow their wealth
- increase Zcash’s usecases
- increase MIM popularity with Zcash holders
- bring joy and happiness
Similarly to Bitcoin, Zcash operates its own blockchain. So we will leverage bridging technology to operate on a network supported by the MIM protocol.
$renZEC is a crosschain token, but I suggest to keep this partnership trial on the Fantom Opera (FTM) network because of low fees and the stellar DeFi ecosystem.
Talking numbers is too early at this stage, but if this proposal gets support by Abracadabra community, I will talk to the ZOMG grant commitee for validation and seeding liquidity will be requested through a Zcash grant
- RenZec contract on FTM
- Messari - Bitcoin & crypto price, news, charts, and research
- ECC roadmap calls for focus on wallet, proof of stake and interoperability - Electric Coin Company
- Zcash Gets Unexpected Support From Gemini Founder, Tyler Winklevoss
- Protocol Labs, Filecoin Foundation, Ethereum Foundation and Electric Coin Co. collaborating to unlock recursion in Halo 2 and explore the future of proofs - Electric Coin Company