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Press Release

Zelcore Propels DeFi with Fusion Cross-Chain Stablecoin Bridge

Zelcore Propels DeFi with Fusion Cross-Chain Stablecoin Bridge

CAMBRIDGE, UK / November 13, 2023, In a groundbreaking move, Zelcore revolutionizes decentralized finance with the introduction of its Fusion Cross-Chain Bridge, extending stablecoin accessibility to underserved networks. This initiative stands as a game-changer in decentralized financial ecosystems. Centered around the debut of zUSD, a USDC-backed stablecoin on eckoDEX, the community-led DeFi ecosystem on Kadena, Zelcore’s Fusion Bridge aims to empower users with unparalleled flexibility and transparency.

Key Features

  1. User Experience

Bridging between Ethereum and Kadena mirrors a standard crypto swap. Users initiate the Bridge in Zelcore, select the amount of USDC-ETH to bridge, send the token to the smart contract, and automatically receive zUSD to their Kadena address in Zelcore.

  1. Transparent 1:1 Reserves

zUSD maintains a transparent 1:1 reserve model, ensuring that for every zUSD unit circulating, there is an equivalent stablecoin held in reserve, offering a secure and accountable stablecoin model.

  1. The Fusion Difference

Zelcore commits to on-chain processing, with reserves held in publicly viewable addresses on the blockchain. This ensures a genuine 1:1 reserve held in the native crypto, allowing users to convert zUSD back to stablecoin, and providing a verifiable and secure foundation.

Cost or Process Overview (Fees):

The bridge incorporates two fee components:

– Network Processing Fee (Gas Fee)

– Variable charges based on factors like time of day and blockchain load, determined by the blockchain provider.

– Transaction Fee

– Collected by Zelcore for ongoing development, bridge maintenance, and underlying asset liquidity.

Example Fees

– Into zUSD:

– 1K Ethereum USDC incurs ~1.99 USDC-ETH fee (0% Intro Rate) for approximately 998 zUSD.

– Out of zUSD

– 1K Ethereum USDC attracts a 2% Intro Rate + Gas fee, resulting in approximately 980 USDC-ETH minus gas.

Example Amount $ Fees What you get
1000 USDC-ETH 1.99 USDC-ETH + 0% Intro Rate ~998 zUSD
1000 USDC-ETH 2% Intro Rate + Gas 980 USDC-ETH minus gas

Conclusion

The Fusion Stablecoin Bridge by Zelcore introduces a transformative solution for blockchain communities and individual users, offering increased liquidity for networks beyond the top 5 globally. By focusing on universal access and utility across all blockchains, Zelcore continues its commitment to supporting the industry and enabling users to shape the future of decentralized finance.

About Zelcore

Zelcore is the world’s first consumer gateway for Web3. The easiest way to navigate all major exchanges and blockchain protocols, Zelcore empowers people to quickly find, manage, trade and truly own their digital assets and information. Founded and led by a team with deep crypto, blockchain, payments and financial services experience.

Contact

Name: Betty Kolibacova – CMO of InFlux
Email: [email protected]
Organization: InFlux Technologies Limited
Website:https://runonflux.io/
Country: Cambridge UK

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