Zyfi Prepares for Token Launch on zkSync

Zyfi, a decentralized finance (DeFi) project built on the zkSync blockchain, is gearing up for its Token Generation Event (TGE) and initial token distribution, scheduled for the fourth quarter of 2024. This milestone will mark the official launch of Zyfi's ZFI token, providing early investors and community members with the opportunity to participate in the project's ecosystem.

As part of the TGE, Zyfi plans to distribute 25% of the purchased tokens to investors immediately, with the remaining tokens set to release linearly over the following six months. This approach is intended to balance liquidity with market stability, gradually introducing ZFI tokens into circulation.

Following a successful private token sale on June 10, 2024, where Zyfi raised $2 million, the upcoming TGE marks a critical step in the project’s roadmap. With a pre-valuation of $20 million, Zyfi aims to position itself as a key player within the DeFi space, leveraging zkSync’s Layer-2 scaling solution to offer more affordable and efficient transactions on the Ethereum network.

The Zyfi platform is designed with features that prioritize flexibility and ease of use, including a gas abstraction model that allows users to pay transaction fees with any token supported on zkSync. Additionally, Zyfi’s flexible sponsorship model enables decentralized applications (Dapps) to customize transaction fee sponsorship without requiring smart contract modifications, adding another layer of adaptability for developers.

Zyfi has partnered with Tokensoft, a trusted platform in the blockchain space, to manage the TGE and token distribution. This partnership aims to ensure a compliant and efficient process for investors participating in Zyfi’s launch. As interest builds ahead of the TGE, Zyfi’s mission to create a user-friendly DeFi ecosystem on zkSync is expected to attract attention from investors and developers alike.