ZilBridge Goes Live on the Mainnet

Zilliqa recently released ZilBridge on its mainnet. The much-anticipated release allows users to bridge USDT, WBTC, and ETH assets to the Zilliqa network. In addition, it facilitates liquidity on multiple pools after the mining incentives start flowing from October 6th.

With this announcement, most traders turned to every Zilliqa price prediction, assessing how it affects the network. The blockchain has announced liquidity for three primary pools on ZILSwap:

  1. USDT-ZIL
  2. ETH-ZIL
  3. WBTC-ZIL

Liquidity Mining Benefits and Incentives

Zilliqa has decided to reward early users with 45.3 million ZIL, amounting to 3.75 million US dollars. The incentives are available for early users who migrate assets to Zilliqa and bootstrap liquidity. The network will share the rewards over ZILSwap from October 6th for six weeks.

It allows liquidity providers from the pools mentioned above to earn hefty mining incentives. The yields will grow even more once ZWAP rewards start pouring. The launch is expected to increase Zilliqa’s total value locked (TVL).

Liquidity providers can get even better rewards if that happens. The network aims to achieve 60 million US dollars across the three pools. Executing it means the network will offer 50% APR to users. It is evident that the rewards are designed to benefit early users.

Here is an overview of the APYs (compounded) and APRs (non-compounded) that users can potentially incur:

  • If the TVL in the three pools reach 20,000,000 dollars: ZIL Rewards (APR) will be 150%, and APY will be 338.76%
  • If the TVL in the three pools reach 40,000,000 dollars: ZIL Rewards (APR) will be 75%, and APY will be 110.57%
  • If the TVL in the three pools reach 60,000,000 dollars: ZIL Rewards (APR) will be 50%, and APY will be 64.48%

Zilliqa will distribute the rewards weekly, and users can avail of them every Wednesday using the ZILSwap reward distributor. The development is bound to boost Zilliqa’s market stature, elevating the rewards even more.

Source: https://www.cryptonewsz.com/zilbridge-goes-live-on-the-mainnet/


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