Common Queries
What is ZYN? Can you describe the functions and purposes of ZYN?
ZYN is the indigenous cryptocurrency of Wethio and holds its place as the cryptocurrency for all third-party apps running on Wethio. It is the base currency for the Wethio infrastructure that is needed by all parties utilizing Wethio to develop apps or issue and integrate cryptographic tokens into their apps.
The supply of ZYN is fixed, long-term, and non-inflationary.
Below are a few more reasons that establish ZYN as an integral part of the Wethio network
To fund the development of Wethio and its ecosystem (WethioScan, WethioMaster, WethioWallet, etc.)
To be used as a reward to incentivize the building of the Wethio engine/ecosystem
To be used as a long-term, decentralized governance instrument of the Wethio network
You can check our technical whitepaper for more details.
Can I mine ZYN?
ZYN is not mineable but mintable by Masternodes. Masternodes are responsible for holding its native crypto token i.e. Zyncecoin. They are responsible for implementing reward processing by creating, verifying, and finalizing the blocks created within a period, called epoch. After that, masternodes and stakers will receive block rewards.
What is ZYN circulating supply and total supply?
The initial circulating supply at genesis block is 91,650,000 but the current circulating supply is increasing every epoch.
After 8 years, ZYN total supply is fixed at 100,150,000 ZYN.
How is ZYN distributed?
The ZYN allocation is split as follows:
10% reserve
7.5% Team
10% ONG
15% Africa States
8.5% Master Nodes [Block rewards]
3% promotions
25% marketing activitites
15% Operations
6% Legal
How are block rewards distributed?
8.5 million ZYN are reserved as block rewards for the next 8 years.
1st and 2nd year: 2 million ZYN annually - 125 ZYN reward per epoch.
3rd, 4th and 5th year: 1 million ZYN annually - 1st Reward Halving takes place at the start of 3rd year after block number 31536000, reward becomes 62.5 ZYN per epoch.
6th, 7th and 8th year: 0.5 million ZYN annually - 2nd reward halving takes place at the start of 6th year after block number - 78840000, reward becomes 31.25 ZYN per epoch.
Will Wethio have inflation?
The total supply is fixed at 100.15 million ZYN for the first 8 years (non-inflationary). Out of which the 8.5 million ZYN, reserved as block rewards, will be distributed after 8 years. At that time, we are expecting that block rewards will come from the exchange fees. However, the Masternode Council can make a decision to increase the total supply by 0.5-1 million ZYN per year (which will be used as block rewards) (~small inflation, 0.5%-1% annually).
How often are block rewards paid out?
Block rewards will be earned every epoch, which lasts for 900 of two-second-block time (~30 minutes). Both Masternode operators and takers get rewarded.
If Wethio has zero fees, how can Masternodes get rewards?
The block rewards will be distributed from the reserved fund of 8.5 million ZYN for the first 8 years.
The block rewards are as follows:
1st and 2nd year: 2 million ZYN annually
3rd, 4th and 5th year: 1 million ZYN annually
6th, 7th and 8th year: 0.5 million ZYN annually
We plan to have a built-in DEX, the revenues from the DEX will go to the Masternodes as well.
Post the period of 8 years, the block rewards will be earned from the exchange fees. Also, the Masternode Council can decide to increase the total supply by 0.5-1 million ZYN per year (which will be used as block rewards).
What is the price in presale and ICO?
The Zynecoin ICO ran from January 25, 2019, to June 27, 2019.
Presale Price: $0.2
ICO Price: $0.25 (0.0003125 ETH)
Is ZYN an ERC-20 token?
No ZYN is the native coin of the Wethio blockchain.
Where to store ZYN? How can I send ZYN to my wallet?
You can store ZYN in Wethio, TrustWallet, MetaMask, MyEtherWallet, Ledger and Trezor and more wallets
We recommend storing ZYN in WethioWallet.
Can I send ZYN directly from my MyEtherWallet?
Yes. MyEtherWallet has WethioChain in the supported network list now. ZYN holders can send ZYN using MyEtherWallet after switching the network to Wethio.
How to connect Metamask / MyEtherWallet with Wethio platform ?
The following information is used for configuring Metamask to connect to Wethio platform
Wethio Testnet
RPC endpoint:
https://rpc.testnet.wethio.ioChain ID:
79Symbol:
ZYNNetwork Name:
Wethio Testnet
We are working on providing Wethio support in MyEtherWallet. Once complete , all you need to do is to choose Network ZYNas the supported network list in MyEtherWallet.
Where can I buy ZYN?
You can trade ZYN on the following exchanges :
Company
Where is Wethio registered?
Wethio Blockchain is supported by APPLINUM SARL in Marrakech (MOROCCO) You can check our company APPLINUM SARL information on the Marrakech registry.
Where are Wethio offices?
Wethio's current offices are located in Marrakech Morocco: MARRAKECH Gueliz – Rue Khalid Ibn Al Walid Imm Dabib Marrakech (Morocco)
Where can I take a look at the Wethio code? Is there a GitHub repository?
All the code for Wethio blockchain is available on our GitHub including the code of our frontend applications like an explorer, master in addition to the blockchain code.
What are the incentives for partners and Dapp developers to build on Wethio?
Wethio supports all EVM-compatible smart-contracts, protocols, and atomic cross-chain token transfers. This means that any smart-contract written in Ethereum protocol can be easily ported to Wethio.
Any written in Ethereum can be seamlessly ported to Wethio, instantly enjoying all Wethio advantages: almost zero-transaction fee; 2-second confirmation time; 2'000 TPS
Dapp developers also get dedicated technical support from Wethio developers.
Besides the technical aspects, our partners will also benefit from the Wethio community support and fundraising opportunities, thanks to Wethio’s excellent relationships with well-known investors.
Communicating with us
You can keep in touch with us at the following links:
Twitter: https://twitter.com/zynecoin
Telegram: https://t.me/zynecoin
Website: https://wethio.io
Email: contact@zynecoin.io
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