ZILLIQA DROPS ITS OWN L1 TO BECOME AN ETHEREUM L2! After nine years running a standalone chain that never reached the usage, funding or security it needed, @zilliqa is pivoting…
Original source excerpt
🚨ZILLIQA DROPS ITS OWN L1 TO BECOME AN ETHEREUM L2! After nine years running a standalone chain that never reached the usage, funding or security it needed, @zilliqa is pivoting to the Zilliqa Insti…
🚨ZILLIQA DROPS ITS OWN L1 TO BECOME AN ETHEREUM L2! After nine years running a standalone chain that never reached the usage, funding or security it needed, @zilliqa is pivoting to the Zilliqa Institutional Layer: an Ethereum L2 built for regulated institutions. Settlement will be secured by Ethereum, with identity and compliance via vLEIs and a permissioned market for verified institutions first. $ZIL token stays. No holder action needed today. This follows recent incidents that hit its X-Bridge and some ZRC-2 tokens, with reports of around $800K taken. Native $ZIL and the EVM stayed safe.
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