Update: Movement of ZILs out of Treasury This is to inform you that you may observe movement of sizeable amounts of ZIL, USDt and ETH out of Zilliqa treasury wallets this week. We can assure you all
that this is not a liquidation exercise.Some of the fund recipients are
exchange addresses. The purpose here is to provide inventory to market makers via leading exchanges such as Binance, BitFinex, Bittrex, OKEx among others. In the coming months, a portion of the funds will also be moved to
strategic partners who will be building a lending market for ZIL tokens. This will enable them to provide collateralised loans to institutions and retail clients. These clients may put other crypto assets as collateral and borrow ZIL against them. The borrowed ZIL could then be used by the clients for market making, staking, etc.
Please do not be concerned if you see such transactions on ViewBlock or Etherscan, as the movement of these funds is part of a strategic long-term plan which aims to build a robust and liquid market infrastructure for the ZIL token.
As always, we remain grateful for your support.
Regards, the Zilliqa team
$ZIL
#BuildOnZIL #ProgressWithZIL