How Zunami Protocol is Evolving into Truly Decentralized Service

The next step in service development is completed!

Blockchain technology has brought many benefits since its inception. However, it seems that decentralization has become a cornerstone of technological progress. This simple but potent idea has been translated many times over the last few years, and taking into account the insane amount of fraud and deception in the crypto field, the advent of DAOs (Decentralized Autonomous Organizations) was a much-needed sign of relief. Crowd-driven approach remains the most transparent approach to handle decision-making in digital finance.

By 2022, the DeFi realm has accumulated an astonishing power of $200+ billion and thousands of applications that have reinvigorated the whole crypto field. To solidify this success and reinforce current achievements, decentralization should become a reality and not just a buzzword. We at Zunami strongly believe that the global financial system is heading towards a new milestone in the centuries-long cycle of development. In the technologically advanced modern world, it seems like nonsense that banks or governments can block or take away your money in a split second. The right to ownership must be as indisputable as the right to private property. We are firmly aware that the forthcoming decentralization of the financial system through the use of blockchain technologies is a mandatory step towards the progress of all mankind.

Since last year, the Zunami team has been refining and migrating traditional banking services to the world of cryptocurrencies. Zunami Protocol is an embodied concept that represents the bank of the future.

We are building a product that can satisfy the current users of DeFi solutions and involve new people in the exciting world of decentralized finance.The Zunami application has been launched as a beta version for now, but in line with our mission, we want to make it fully decentralized as fast as possible.

The plan to achieve total decentralization is based on these 4 points:

We do not use proxy contracts and can’t make changes to the code unilaterally. Any updates to the Zunami.sol contract are only available through migration, with the consent of the users. Moreover, it’s possible to overlook the issue of trust by the creator, and just check the code.

This week, the rights to call all key functions (such as adding new strategies, rebalancing funds) have been transferred to command multi-sig. In the forthcoming future, we plan to create a Protocol multi-sig, which will be controlled by on-chain voting only.

As technology matures, we are looking more and more at Decentralized Data Storage. The Zunami Team plans to leave AWS behind by migrating data from all of its servers to Web 3 storage.

We want the development of our protocol to be in line with the opinions of clients and the community. Your opinion and voice is vital to us, as we want to create the best stablecoin farming product for the end user.

We have not launched our token yet, but there are issues that require a collegial decision. Therefore, it’s essential to launch DAO voting and give the early participants of the protocol the right to vote so that we can choose the path of project development together. Each user who deposited funds in Zunami received a ZLP token in proportion to their contribution to the protocol. We have launched a voting system where everyone who keeps ZLP in their wallet receives a proportional number of votes.

ZLP holders will be able to vote and determine the direction of protocol development. All key issues such as the choice/adding of new strategies, rebalancing of funds will be decided by the Zunami DAO.

We invite all Zunami users and community to vote and support our first on-chain proposal! Via thins link: https://snapshot.org/#/zunamidao.eth

A special channel was created for proposals and discussions: join the #dao-voting on Discord to take part!

Subscribe to our Zunami Digest to stay updated on what’s coming in the crypto world. Moreover, make sure you are also subscribed to our socials to stay tuned to what we’re up to next!

Thanks for reading the Zunami blog!

Regards,

Your Zunami Team

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