ZEST: Options for Decentralized Finance
Tags: Cryptocurrency, Binance, Bitcoin, Crypto, Btc

Short Intro

Decentralized finance (DeFi) technology has become a byword among crypto-asset lovers in the past year. Many people see DeFi as a financial revolution in the future, while others consider it a disruption of the financial services sector that already exists today.

Decentralized finance itself is a variety of financial service applications that are operated on blockchain technology.

Through the DeFi application, users can perform conventional financial services, such as lending and borrowing, without the need for intermediaries such as banks or finance companies. This is because all transactions in it are carried out automatically through a system called smart contracts.

One of the Defi projects currently being developed is the ZEST. Runs on a dual chain (Ethereum Chain and Binance Smartchain). This is done to facilitate every transaction, when one network requires a higher fee than the other network, ZEST users can switch to using the network that charges the lowest fee. (As of now, fees on Ethereum Chain are higher than the fee charged by Binance Smart Chain).

“ZEST is a deflationary governance DEFI token that provides exceptional rewards to active users via Smart Contract protocols, while seamlessly incorporating transactional rewards with liquidity rebalancing feature.”

However, regardless of the fee set by the network (both the Ethereum network and Binancechain), every transaction on ZEST is subject to a fee of 1% of each sales transaction, which will be transferred back to ZEST(ZEST) holders automatically when the transaction takes place.

ZEST Tokenomics

The ZEST Token is designed to be integrated into “Necromancer’s” ecosystem, which’s extremely simple functions. As described on MBG Whitepaper

Function A

1% added to liquidity on sells, buys and txn’s This allows us to constantly have the liquidity to execute Function B.

LP Rewards

- Each time function two is called, all ZEST from function one is distributed to LP providers.

- All you need to do to get these rewards is provide liquidity.

Once ZESTSwap is Released

All tax goes to an address to later be added to ZEST/rETH in ZESTSwap

Function B

Liquidity Buy and Burn

Function becomes available once an hour and can be called by anyone.

Caller of the function will receive 5% of the ZEST for incentive to spend Gas (%1 for BSC).

When Function is Called:

- 2% of liquidity is removed

- the liquidity is then split into ETH and ZEST

- ETH market buys ZEST

- 95% of the ZEST is then burned

- 5% of ZEST sent to caller of the function (to incentivize user spending gas, for BSC %1).

To call the Function its required the callers holds a minimum 200 ZEST

You can learn more about this mechanism through the ZEST White Paper which I will put the link at the end of the article!

As mentioned earlier, this project using a dual chain (Ethereum Chain and Binance Smart Chain) which means that this project also has a token with the same smartcontract but with a different chain. More details of the ZESTtokens on each chain are as follows:

ZEST on ETH Chain

Total Supply: 300,000 ZEST

Smart Contract Address: ZEST ETH Chain

Token Allocation:

- Presale: 150,000 ZEST

- Initial Liquidity: 85,000 ZEST

- Marketing, Promo, Community Engagement: 35,000 ZEST

- Team: 30,000 ZEST

- Presale: 150,000 ZEST - Initial Liquidity: 85,000 ZEST - Marketing, Promo, Community Engagement: 35,000 ZEST - Team: 30,000 ZEST Token Sale Details:

- Presale Price: 999 ZEST/ETH (~$5/ZEST*)

- Min. Buy: -

- Max Buy: 3 ETH (~$4,500*)

- HardCap: 30 ETH (70% for liquidity, 20% for future development, and the rest 10% for presale referral rewards).

*)ETH Based Price: 1500

ZESTon Binance Smartchain