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@ -43,16 +43,50 @@ Zano has a unique consensus system in which in order to perform the classic 51%
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This way an attack becomes very expensive, in particular because the purchase of a significant portion of the coins on the market would dramatically increase the price. If you try to use a small percentage of PoS coins for the attack, then the PoW power necessary for the attack becomes 800% or more. This makes it possible to establish a relatively low block reward and at the same time provide a high security level for the transaction history.
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### Premine
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### The premine and how Zano will be funded
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Being actively involved in the crypto space since 2014, the Zano team is well aware of the financial struggles that projects face in development, especially during the first years where the community is small and thus crowdfunding is hardly an option.
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Zano opted to use a small premine as its primary funding strategy. Here's an in-depth look at why this decision was made, how the funds have been utilized, and what the future holds for Zano's financial sustainability.
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Our decision to do a premine allowed us to keep our core team full-time since launch focused on Zano, even during harsh crypto-winters.
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#### Why does Zano have a premine?
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The premine consisted of 3.6M ZANO, it was set aside for marketing, partnerships, ongoing project expenses, as well as to pay a loan to fund initial development back in 2018.
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The decision to proceed with a premine was rooted in the team's previous experiences and the broader crypto landscape. Unlike Bitcoin and Monero, which have benefited from substantial community donations, most cryptocurrencies struggle to secure funding through this method alone. Boolberry, the team's previous project, was no different; with just a 1% dev-tax and no premine, it was impossible to sustain development, as donations weren't enough given the extremely small community.
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As of June 2024, considering what has already been spent for development, our foundation fund sits at **just \~6%** of the total ZANO supply.
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And so, a premine was seen as a necessary step to ensure that our next project, Zano, has the resources needed to grow, innovate, and maintain a dedicated team.
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#### Premine amount
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The premine consisted of 3.6M ZANO; it was set aside for ongoing project expenses, marketing, partnerships, and to pay a loan to fund initial development back in 2018.
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As of December 2024, considering what has already been spent for development, the foundation fund sits at just \~5,4% of the total ZANO supply.
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You can track the amount of the foundation fund via our [explorer](https://explorer.zano.org/) or by importing its tracking seed into your wallet:
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`aZxat4HAWriVQ3enkGcVsrZRdMseAJswG3CSEwTqZS246VsFQ53w26eZstYsu1jWE74Atz9ajLxFnBsVTafncWNH5SMv4zHFaTS:1780c4d5dd7e97cc4a75ea8baa7977d12ef948b9a6dddc2a9a37e5e22ac7180e:1599495055`
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#### Achievements funded by the premine
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The choice to implement a premine has enabled us to maintain a full-time, dedicated team on Zano from the start, even through the most brutal crypto winters. This strategic decision has allowed us to excel across multiple fronts:
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Development: We've continuously enhanced our blockchain technology with key upgrades like the Zarcanum hard fork, which introduced the world's first Private Proof of Stake model and support for issuing Confidential Assets.
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Marketing: The premine has funded efforts to boost our visibility, including securing listings on centralized exchanges and creating educational content.
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Community Engagement: With the funds, we've supported various community initiatives, offered developer bounties, and sponsored hackathons, all aimed at cultivating a dynamic and engaged Zano ecosystem.
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#### Decentralizing Zano's Foundation Fund
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Recognizing the importance of decentralization in cryptocurrency ethos, Zano is exploring ways to decentralize its development fund. One promising approach under consideration is the use of multisig wallets, where control over funds would be distributed among several keys, some of which could be held by community members or other trusted parties. This move would also tie well with our [upcoming governance voting system](https://zano.org/roadmap).
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#### Future: Hybrid Sustainable Funding Model
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Understanding the constraints of solely depending on a premine, especially given that 78% has already been utilized, Zano is set to roll out a community crowdfunding initiative. This step is now practical due to our community's steady growth. By integrating this with the premine, we're establishing a hybrid funding model that, similar to our hybrid PoW/PoS consensus, capitalizes on the strengths of both approaches.
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#### What are the benefits of Community Crowdfunding?
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By adopting a model akin to Monero's CCS, we can promote and manage direct contributions from the community. This approach broadens the funding base and allows development initiatives to be driven by community input rather than solely by the core team's decisions.
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Thanks to combining the existing premine reserves with funds sourced from the community, Zano is working towards establishing a more sustainable financial framework for the future. We anticipate that by the time the premine is depleted, Zano will boast a sufficiently large community to support its operations solely through community contributions, mirroring the self-sustaining model Monero has achieved.
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#### Conclusion
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Zano's decision to implement a premine was grounded in both past experiences and the practical realities of cryptocurrency funding; it was essential for early development and growth, but with 78% spent, we are making steps towards decentralization, sustainability, and increasing community involvement. Zano is crafting a funding model that could serve as a blueprint for future crypto projects.
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@ -4,23 +4,26 @@ sidebar_position: 5
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# Specifications
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| General info | |
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| :------------------- | ------------------------------------- |
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| Release | 2019 |
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| Currency | Zano |
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| Symbol | ZANO |
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| Hash algorithm | ProgPowZ |
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| Language | C++ |
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| Blockchain | PoS + PoW |
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| **Emission** | |
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| Block time | 1 minute |
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| Block reward | 1 ZANO |
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| Initial total supply | 17517203 ZANO |
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| Maximum Supply | ∞ (uncapped) |
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| **Resources** | |
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| Website | https://zano.org/ |
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| Repository | https://github.com/hyle-team/zano |
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| Explorer | https://explorer.zano.org/ |
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| **Requirements** | |
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| Wallet requirements | 2 core x64 CPU, 3 GB RAM |
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| Wallet platforms | x64 Windows 7, Linux or Mac OS X 10.9 |
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| General info | |
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| :------------------------ | ---------------------------------------------------------------------- |
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| Release | 2019 |
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| Currency | Zano |
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| Symbol | ZANO |
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| Hash algorithm | ProgPowZ |
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| Language | C++ |
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| Blockchain | PoS + PoW |
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| **Emission** | |
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| Block Time | 1 minute |
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| Block Reward | 1 ZANO (fixed amount) |
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| Initial total supply | 17517203 ZANO |
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| Maximum Supply | Uncapped |
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| Yearly Inflation | Ever-decreasing trend towards 0% (asymptotic) |
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| **Fee on TXs** (flat fee) | 0.01 ZANO |
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| Fee burn | 100% (all fees are burned) |
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| **Resources** | |
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| Website | [https://zano.org/](https://zano.org/) |
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| Repository | [https://github.com/hyle-team/zano](https://github.com/hyle-team/zano) |
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| Explorer | [https://explorer.zano.org/](https://explorer.zano.org/) |
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| **Requirements** | |
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| Wallet requirements | 2 core x64 CPU, 3 GB RAM |
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| Wallet platforms | x64 Windows 10/11, Linux or Mac OS Big Sur 11.4 |
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@ -10,15 +10,11 @@ Using Zano’s Discord TipBot is fairly straightforward and intuitive, but here
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#### Get Discord
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In order to use the Discord TipBot, we must first have Discord installed, head over to their website (or your package manager) and get signed up!<br/>
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https://discord.com/download/
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In order to use the Discord TipBot, we must first have Discord installed, head over to their website (or your package manager) and get signed up!<br /> [https://discord.com/download/](https://discord.com/download/)
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#### Join Zano’s Discord Channel
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Now that we have Discord, head over to our discord
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channel and join the rest of the community! Simply click
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the link below.<br/>
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https://discord.gg/wE3rmYY
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Now that we have Discord, head over to our discord channel and join the rest of the community! Simply click the link below.<br /> [https://discord.gg/wE3rmYY](https://discord.gg/wE3rmYY)
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### The Tip Bot
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@ -28,55 +24,49 @@ Welcome to Zano Discord, now that you’re here, you should have something that
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Head to the ‘Bounties’ category and select the ‘tip-bot-settings’ channel, here lies a summary of the tip bots usage.
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### Get tipping!
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Let's take a look at the tip bots functionality, the below image shows what we can do with the bot.
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#### Deposit
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Before we can begin tipping, we must have some Zano in our tip bot wallet, to do this click on ‘Deposit’, get your wallet address and send some Zano to it.
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#### Register alias
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Before you can withdraw Zano others have tipped you, you must register an alias, more on aliases can be found here: https://docs.zano.org/docs/aliases
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Before you can withdraw Zano others have tipped you, you must register an alias, more on aliases can be found here: [https://docs.zano.org/docs/aliases](https://docs.zano.org/docs/aliases)
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Click ‘register alias’ and enter your alias.
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#### How to tip
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Tipping users is done with one simple command, to see this command, click ‘how to tip’
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:::tip Tip command
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$tip
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:::
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Simply replace and with the values you want to use, a real world example within discord looks something like this
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#### Balance
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To view how much Zano you have, simply click balance, and the tip bot will show how much Zano is in your wallet.
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#### History & simple view
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There are 2 history buttons, one designated History, and the other History (simple view).
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History is formatted as a table, whereas History (simple) is a simple one-liner.
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@ -84,11 +74,10 @@ History is formatted as a table, whereas History (simple) is a simple one-liner.
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If you want to know the current price of Zano, click ‘Rate’, to see the current price in $USD.
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#### Redeem coupon
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If you have a coupon code, the ‘Redeem Coupon’ button allows you to exchange your coupon for Zano coins.
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Simply click the button and enter your coupon code.
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If you have a coupon code, the ‘Redeem Coupon’ button allows you to exchange your coupon for Zano coins. Simply click the button and enter your coupon code.
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