Zulu Republic will launch its own blockchain by the end of the year. The official announcement was made via Twitter, where additional updates will also be published.
For now, it is not yet clear when the launch will actually take place. The ZTX token is tradable on exchanges since August, and with the launch of the mainnet it will become the native cryptocurrency of the new blockchain.
Zulu Republic is an ecosystem of tools and platforms based on blockchain.
The official website reads that it was designed “a place where people, businesses, and organizations can thrive on their own terms“.
It also features a division dedicated specifically to Litecoin, which includes the platforms Litevault and Lite.im.
The aim of the project is to promote the development of decentralised technologies, providing everyone with access to the cryptocurrency world, while also promoting human rights and reducing the digital divide on a global level.
Once the mainnet is launched, the native ZTX cryptocurrency will become the reference currency for the entire ecosystem of products and services that Zulu Republic is developing.
The design of the ecosystem is based on incentives, and the way in which users interact with the platform will determine its final form.
For example, to increase its adoption on a large scale, the ZTX token was distributed with a free airdrop to the first 10,000 users, and not through an ICO. As a result, 10,000 people were able to get 500 ZTX each by registering for the Zulu Republic beta with an email address, password and 2FA authentication.
Another airdrop will take place in the second phase of the project, during which the first 90,000 subscribers of the Zulu Republic passport will be given 1000 ZTX.
Other incentives will be distributed by the Zulu Pay payment system, which will offer a 5% reward program for eligible online purchases.
Zulu Pay will also use an off-chain solution that will allow for instant, very low commission, and large scale payments.