Dear Luna team:
ZULU believes that global economic activity will migrate to crypto in the future. More and more value will be stored on-chain as well. Thus every transaction can be executed by the preset logic and code.
Every new technology is born to solve the problem and facilitate human's daily life. So does Bitcoin. However, the attempt to facilitate daily life with blockchain technology is neglected. Only a few teams are working on this, such as Terra, Celo, etc. They have many good attempts to provide a blockchain based payment infrastructure. However, they don't own or have any impact on those off-chain use cases which may need to use payment service. So it is hard to make merchants or end-users use their payment solution.
The future goal is to be a better approach to utilize the stablecoin to facilitate daily life. This will be a win-win result for crypto and the 'real world'. It will help to fulfill the goal of blockchain technology which will promote the finance inclusion globally.
ZULU has designed 3 phases to fulfill this mission.
Phase 1, ZULU will build a stablecoin ecosystem on-chain which is the key factor to bootstrap the system. Compared to any other crypto assets, the stablecoin is the best intermediary which can be well used off-chain.
During Phase 2, we will build a decentralized lending protocol which will issue the loan in zlUSD to the Fintech companies off-chain. The Fintech companies are doing the lending business off-chain. ZULU stablecoin will be distributed to a wider population. During Phase 3, with millions of the zlUSD holders, ZULU will provide a blockchain based payment infrastructure to help the merchants receive the crypto assets, especially ZULU tokens. Details will be discussed in the 'Long Term Vision'.
- Project Name: ZULU Finance
- Team Name: ZULU Finance
- Payment Address: terra1k6q7x9wwkh8we0nz96vwt9hm5wew4dp02uj6wh
Various assets can be used as collateral in ZULU protocol. These assets have intrinsic value but they are neglected and lack good use cases. So the main goal is to provide use cases and liquidity to those holders who didn't want to sell their valuable collateral assets. Currently zulu protocol functions support users to open a trove with multi-collaterals to generate zlUSD, provide liquidity in our stability Pool, stake Zulu etc. token to earn protocol fees and $ZUL rewards.
- ZULU Finance - ZULU is a protocol which allows users to put various assets (such as interest bearing tokens and long tail tokens) as collateral to generate stablecoin zlUSD.
- ZULU Finance – The system supports multiple collaterals such as mainstream tokens i.e.ETH, BTC etc.,receipt tokens, beltTokens, ibTokens, etc. long tail tokens i.e. DODO, SHIB etc.. With the zlUSD, Users could deposit in the Stability Pool to help the protocol stable, liquidity mining and add leverage to their own collateral.
- The first batch of the collateral assets in ZULU Finance will be the mainstream assets such as the LUNA, ETH, BTC, etc. At the same time, we will incentivize the users to provide liquidity for our ZULU token and the stablecoin on Dexs etc. Most of the $LUNA reward will be used to incentivize the users who provide liquidity for the stablecoin pair.
- Accelerate the bridge of the on-chain crypto world with the offchain real world, widen the use cases for LUNA, UST, and grow the Terra Ecosystem.
Currently, ZULU finance is in Phase 1. We have finished all the development and the audit is ongoing for this Phase. We are now ready for the mainnet launch at any time. Our project details could be reviewed and checked here:
- all the functions could be checked at official website: https://zulufinance.org/
- ZULU Finance is completely open sourced the code could be reviewed here: https://github.com/zulufi/zulu
- Whitepaper can be reviewed here: https://docs.zulufinance.org/documentation/whitepaper
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ZULU Finance will support LUNA as the mainstream token to be collateralized to generate zlUSD, adding leverage to LUNA users. And provide incentives in LUNA to users who provide Liquidity to stablecoin paires.
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The target end users are users of the terra ecosystem that hold LUNA, UST who are seeking for new use cases or adding leverage to its assets. And in the near future will bridge the off-chain real world, to help widen the use cases for LUNA, UST for Terra ecosystem.
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There are two similar competitors to ZULU FINANCE are abracadabra(SPELL) and Goldfinch, however
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SPELL there is no plan for off-chain planning.
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Compared with Goldfinch, Zulu team has greater financial resources and richful experiences in traditional finance industries, especially in Southeast asia. The team knows much better in how to connect with the offchain real users. ZULU is aiming to fulfill the goal of blockchain technology which will promote financial inclusion globally.
- Product: Microsoft, CMU alumni, Serial Entrepreneur in Fintech area
- Programmer: ex-FB payment platform, Fintech Start-ups
- Community: several years blockchain and Defi community manager
- Marketing: ex-CMO for several Defi platforms which have more than 100M TVL.
- Contact Name: syouzh
- Contact Email: info@zulufinance.org
- Website: https://zulufinance.org/
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The core team comes from various experienced backgrounds and are veterans in the industry:
Besides the above core team members, ZULU has another 10 members who make contributions to the project as well. Some of them are full time and some are part time selected from the ZULU community.
Most of our team members are programmers and product managers, we lack the marketing and growth experience in the crypto industry. So besides the investment or launch reward, we are requesting the help on marketing, growth from the Harmony community. Talents who are interested in this big idea are warmly welcomed as well.
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ZULU finance is in Phase 1. We have finished all the basic development and the audit is ongoing for this Phase. Our long term goal is to make ZULU as a multi-chain protocol.
- Total Estimated Duration: 50 working days
- Full-Time Equivalent (FTE): 5 FTE
- Total Costs: $30,000 converted into luna based on market value at the time of proposal.
- Total Estimated Duration: 50 working days
- Full-Time Equivalent (FTE): 5 FTE
- Total Costs: $30,000
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Adding new collaterals to the protocol
- BNB
- ETH
- LP token from Pancake
- beltToken from Belt
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Launch new Liquidity Mining Pool
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Adding new functions as Early Adopters' Promotion
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ZUL buy back mechanism - utilize a fixed portion of the protocol fee to buy back ZUL in the market, to make the ZUL long-term deflationary. The initial portion will be 25%.
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Suggestion and bug bounty for the Mainnet protocol
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Launch adding leverage shortcut feature - which helps the users add leverage with limited steps.
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Launch liquidation bot
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Mainnet Launch on Terra
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Complete Audit report
- Launch more collateral - mainly focus on long tail assets.
- Launch timelock and governance feature - the core team will grant the community the authority to vote for the configuration change.
- Partner with more projects to widen the use cases for zlUSD and ZUL
- Partner with external protocols to accept zlUSD or ZUL as collateral
- Partner to have more utility for zlUSD and ZUL
- Develop and launch the decentralized lending protocol
- Issue loans to 3 borrowers with the decentralized lending protocol
- Recruit and educate 2st batch of the underwriter and auditors
ZULU Finance team is not only an incentive fund driven project, we are also looking forward to being launched on Terra with your official recognition. With our ultimate goal to bridge the chain world and off-chain real life, we strongly believe our project would be the one to provide the better solution. Not only do we understand the blockchain world, but also the off-chain finance industries, with our richful experiences, and connections and resources in SEA.