Bitcoin (BTC) has remained a major influence in how different cryptocurrency projects try to solve problems in the entire ecosystem. Terra (LUNA), Polkadot (DOT) and also Sanzooz (SZFT) all try to achieve some major feats while contributing immensely to blockchain utility.
Terra (LUNA) is a public blockchain technology that utilizes sets of algorithmic decentralised stablecoins (like TerraUSD also known as UST) to run a powerful ecosystem that makes offering DeFi possible. Polkadot (DOT) blockchain allows every involved party to take both private and public chains and then join them to share a connected layer.
Sanzooz Finance (SZFT) is an ERC20 token-based protocol for decentralized asset issuance. Sanzooz is a new platform that will allow users to use smart contracts to make artificial currencies, commodities, and other real-world assets.
These artificial assets will be backed by SZFT token, which will let users convert assets without the need for counterparts right through the smart contract. The liquidity and slippage difficulties that DEXs encounter are addressed by this process.
Sanzooz (SZFT) token holders are rewarded for staking their tokens by getting a pro-rata portion of fees earned from network activity on the exchanges depending on their level of contribution to the network.
Multi-DAO Model Will Act As The Governance Model For Sanzooz Finance
Decentralized Autonomous Organization (DAO) governance systems have now become a very common concept in the blockchain space. It is a method to put the governing power of a project back into the hands of token holders.
In an interview in October 2021, Vitalik Buterin said that he thinks that DAOs would become more important over time. He also believes that the concept would get bigger once it becomes possible to merge DAOs and make big decisions. Sanzooz (SZFT) would employ the usage of multi-DAOs for its governance.
The multi-DAO concept, as in the case of Sanzooz Finance (SZFT), simply implies that each DAOs would have its different functions. They’ve gone forward to create DAOs like; Protocol DAO, Council, Grants DAO, Sanzooz DAO and Ambassadors DAO. Eligibility criteria will depend on the roles each DAOs play.
SZFT Staking Feature
SZFT holders will be rewarded in many ways for staking their tokens and making artificial assets. For starters, there will be exchange rewards. When one asset is traded for another, they are generated (i.e. on Sanzooz Exchange). Sanzooz tokens (SZFT) will be employed to gather incentives for engaging the system in a number of ways.
Each transaction involves an exchange fee, which is paid to a fee pool where those who have staked may claim their weekly portion. The token will be vested for a period of two months to offset wild price swings from launch.
The Sanzooz Exchange Platform
With an artificial asset, you won’t need to own an asset physically to gain exposure to it. Artificial assets will mirror the price of the underlying asset making it possible to track. Holders would be able to gain a large exposure to different asset classes on Ethereum (ETH) without ownership of those assets.
Trading on the Sanzooz exchange will provide unique benefits over both centralized exchanges and even order book-based decentralized exchanges. Due to the lack of an order book, all transactions will be completed directly against the contract, a service model is known as P2C (peer-to-contract) trading. As a result, limitless liquidity up to the value of the system’s collateral, zero slippage, and permissionless on-chain trading is possible.
Sanzooz(SZFT) is coming soon, it is currently still in the test net. The price explosion this token could experience may be similar to the likes of Terra (LUNA), Bitcoin (BTC), Ethereum (ETH) and many other top cryptocurrencies.
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