After working on L1 for nine years, Zilliqa itself said: “hasn't worked.”
This isn’t outsiders taking shots—it’s their own words. Usage couldn’t support a standalone chain, funding and liquidity dried up, and the recent hacks made them realize how expensive it is to shoulder security alone. So what now? They’re not shutting it down; they’re moving it under Ethereum as the “Zilliqa Institutional Layer”—an L2 for institutions, using vLEI for identity verification, with sequencers run out of Liechtenstein. At first, only vetted banks and asset managers will be allowed in.
ZIL stays as is, and holders don’t need to do anything today. The launch date and technical details can come later.
Honesty is good. But honesty doesn’t mean the fundamentals are back. It’s permissioned, with no timeline—still just a rebranded narrative for now. Let’s talk when banks are actually lining up to join; don’t rush to dress up a retreat as good news.
#ZIL #ETH
This isn’t outsiders taking shots—it’s their own words. Usage couldn’t support a standalone chain, funding and liquidity dried up, and the recent hacks made them realize how expensive it is to shoulder security alone. So what now? They’re not shutting it down; they’re moving it under Ethereum as the “Zilliqa Institutional Layer”—an L2 for institutions, using vLEI for identity verification, with sequencers run out of Liechtenstein. At first, only vetted banks and asset managers will be allowed in.
ZIL stays as is, and holders don’t need to do anything today. The launch date and technical details can come later.
Honesty is good. But honesty doesn’t mean the fundamentals are back. It’s permissioned, with no timeline—still just a rebranded narrative for now. Let’s talk when banks are actually lining up to join; don’t rush to dress up a retreat as good news.
#ZIL #ETH