Zilliqa announces transition to an Ethereum Layer 2 for regulated institutions
#Zilliqa announced that its standalone #Layer1 strategy had fallen short, citing insufficient network usage, declining funding and liquidity for independent L1s, and recent security breaches highlighting the risks of operating a network alone. The project is transitioning into Zilliqa Institutional Layer, an #Ethereum #Layer2 designed for regulated institutions, offering Ethereum-secured settlement, on-chain identity and compliance through vLEI, and a permissioned marketplace initially targeting verified institutions, with plans to later expand access to individuals and agents.
$ZIL holders are not required to take any action at this stage. Technical details will be shared before any changes take place, and all claims, swaps, or migration updates will be announced first on Zilliqa’s official website.
👉 x.com/zilliqa/status/2118288870060032070
#Zilliqa announced that its standalone #Layer1 strategy had fallen short, citing insufficient network usage, declining funding and liquidity for independent L1s, and recent security breaches highlighting the risks of operating a network alone. The project is transitioning into Zilliqa Institutional Layer, an #Ethereum #Layer2 designed for regulated institutions, offering Ethereum-secured settlement, on-chain identity and compliance through vLEI, and a permissioned marketplace initially targeting verified institutions, with plans to later expand access to individuals and agents.
$ZIL holders are not required to take any action at this stage. Technical details will be shared before any changes take place, and all claims, swaps, or migration updates will be announced first on Zilliqa’s official website.
👉 x.com/zilliqa/status/2118288870060032070
