Bitcoin (BTC) has remained a major influence on how different cryptocurrency projects attempt to solve problems across the ecosystem as a whole. Terra (LUNA), Polkadot (DOT) and also Sanzooz (SZFT) are all trying to achieve major feats while contributing immensely to the usefulness of blockchain.
Terra (LUNA) is a public blockchain technology that uses sets of algorithmic decentralized stablecoins (like TerraUSD also known as UST) to run a powerful ecosystem that makes DeFi offering possible. The Polkadot (DOT) blockchain allows each party involved to take private and public chains and then join them to share a connected layer.
Sanzooz Finance (SZFT) is an ERC20 token-based protocol for decentralized asset issuance. Sanzooz is a new platform that will allow users to use smart contracts to create artificial currencies, commodities, and other real-world assets.
These artificial assets will be backed by the SZFT token, which will allow users to convert assets without the need for counterparties throughout the smart contract. The liquidity and slippage difficulties faced by DEXs are resolved through this process.
Sanzooz (SZFT) token holders are rewarded for staking their tokens by getting a pro-rated portion of the fees generated from network activity on exchanges based on their level of contribution to the network.
The multi-DAO model will serve as a governance model for Sanzooz Finance
Decentralized Autonomous Organization (DAO) governance systems have now become a very mainstream concept in the blockchain space. It is a method of putting the governance power of a project back in the hands of the token holders.
In an interview in October 2021, Vitalik Buterin said he believed DAOs would become more prominent over time. He also thinks the concept would expand once it becomes possible to merge DAOs and make big decisions. Sanzooz (SZFT) reportedly employs the use of multiple DAOs for its governance.
The multi-DAO concept, as in the case of Sanzooz Finance (SZFT), simply implies that each DAO would have its different functions. They went ahead to create DAOs like; DAO Protocol, Consulting, DAO Grants, Sanzooz DAO and DAO Ambassadors. Eligibility criteria will depend on the roles played by each DAO.
SZFT staking function
SZFT holders will be rewarded in several ways for staking their tokens and creating artificial assets. For starters, there will be trade rewards. When one asset is exchanged for another, they are generated (i.e. on Sanzooz Exchange). Sanzooz Tokens (SZFT) will be used to gather incentives to engage the system in several ways.
Each trade involves a trade fee, which is paid into a fee pool where those who wagered can claim their weekly share. The token will be acquired for a period of two months to compensate for the strong price fluctuations since the launch.
The Sanzooz exchange platform
With an artificial asset, you don’t need to physically own an asset to be exposed to it. Artificial assets will reflect the price of the underlying asset, which will allow tracking. Holders could gain broad exposure to different asset classes on Ethereum (ETH) without owning those assets.
Trading on the Sanzooz exchange will offer unique advantages over centralized exchanges and even decentralized order book-based exchanges. Due to the absence of an order book, all transactions will be carried out directly on the contract, a service model is known as P2C (peer-to-contract) commerce. As a result, unlimited liquidity up to the value of the system collateral, zero slippage and permissionless chain trading are possible.
Sanzooz (SZFT) is coming soon, it is currently still in the testnet. The price explosion this token might experience may be similar to that of Terra (LUNA), Bitcoin (BTC), Ethereum (ETH), and many other leading cryptocurrencies.
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