Zeepin Chain Mainnet Launch and an opportunity to obtain a GalaBox
Zeepin focusses on building a new decentralized creative economy based on using blockchain technology. Zeepin’s decentralized creative economy will consist of various features that validate and protect artists against copyright infringements with the introduction of ZeeRights. It will create a platform for artists to insure their assets with the help of the ZeeSure dApp. Zeepin also introduced ZeeProof, which is a copyright verification tool. The team have released the ZeeWallet back in April, so you can store your ZPT and GALA tokens safely. Other dApps the Zeepin team is working on are: ZeeCrew, ZeeCreate, ZeeTalent and ZeeFund.
Similar to NEO and Ontology, Zeepin has a dual-token economic model. While its main token ZPT functions as its native token, GALA is the fuel for the ecosystem. The main difference between the NEO vs. GAS / ONT vs. ONG equation is the fact that, the only way to increase your GAS or ONG token rewards is to increase your NEO or ONT balance, while to increase your amount of GALA tokens you can also play Zeepin’s blockchain powered game, CryptoGalaxy and earn rewards (GALA) or you can host a storage node on the data storage network, GalaCloud.
Zeepin Chain mainnet release
Zeepin will be launching its mainnet at the 31st of August 2018. The project that was initiated on the NEO blockchain is now ready to continue its business developments on its own blockchain, Zeepin Chain. Zeepin tokens (ZPT) initially launched on the NEO blockchain as a NEP5 token. After its mainnet launch, NEP5 Zeepin (ZPT) tokens can be swapped for native Zeepin Chain ZPT tokens.
Initially introduced by Zeepin as the second chain of their dual-chain project, GalaCloud is a distributed storage network that consists of GalaHub Nodes that function as network nodes and the GalaBox that functions as a mining and storage device. GalaCloud is improving upon centralized data storage entities by aiming to develop and launch a fully decentralized encryption storage network. The GalaHub selection is currently taking place. Users that want to become a GalaHub node need to deposit at least 400,000 ZPT which will be locked for 18 months. A total amount of 49 nodes will be selected. If you are selected as a GalaHub node, you are in charge of providing distributed storage services and executing administrative jobs provided to you by the network. Each week 20% of the revenue will be evenly distributed among GalaHub nodes. As your ZPT will only be locked temporarily (18 months), being selected as a GalaHub Node can earn you a high return-on-investment (ROI). The GalaBox G1 is a next-generation cloud storage device and mining machine, specifically designed for the storage of encrypted file fragments.
GalaBox special event
To celebrate their mainnet launch, Zeepin is giving away 10,000 GalaBoxes. If you want to participate in this giveaway, you will need to lock-up a certain amount of ZPT for 18 months. After the 18 months the ZPT will be returned to its rightful owners. By locking up this specific amount of ZPT you are eligible to receive a GalaBox. The maximum amount of GalaBoxes each user can receive is 12. This promotion will be run in three phases. The first phase is already finished, with a successful result of reaching even more than its goal (110%) within 24-hours. The next phase will start on the 16th of August and it will run until the 20th of August. After this phase, one last phase will follow from the 21st until the 25th of August, in which you can register for one or more free GalaBoxes. For more information on the GalaCloud system you can visit their website, where you can also register to obtain one or more GalaBoxes.
Zeepin’s development team has created the first virtual universe entertainment dApp, powered by blockchain, called CryptoGalaxy. The game enables users to buy and name their own planet. It has a build-in wallet where you can store and transfer ZPT and GALA tokens.
From now on until the end of this year, Zeepin will be incentivizing CryptoGalaxy users that hold ZPT in their Galaxy wallet with a daily stake out of the 150,000 GALA reward pool. If you are interested in learning more about CrypoGalaxy you can visit their website here, or check out this beginner tutorial.
After having successfully executed an ICO at the beginning of this year, in which they raised the equivalent of 62,500,000 USD in NEO, ETH and BTC. Zeepin has been continuously developing its own chain, announcing partnerships and working on relevant side-projects that add value to the main chain. Zeepin is in it for the long haul and while it still is a relatively young project, they have established themselves pretty well in this quickly evolving and highly dynamic industry.
The addition of the GalaCloud, GalaHub and GalaBox can have a positive effect on the Zeepin token price and the project longevity. For one, it means more community interaction and secondly, if all 10,000 GalaBoxes are distributed to Zeepin Token holders and they need to lock up their tokens for 18 months, that means 10% of the total circulating supply will be locked and cannot be transferred or sold in the meantime. Also, if all 49 GalaHub nodes positions are being filled that means another reduction of the circulating supply by almost 5%. Reducing the circulating supply by 15% can have a positive effect on the token price.
You can currently trade Zeepin tokens at Kucoin, Lbank, Gate.io, HitBTC and decentralized exchange, Switcheo Network.
Zeepin official channels:
Full disclosure: I do not own Zeepin or Gala tokens. This article is written as ‘Part of the article group’. Zeepin incentivizes me for writing this article. This article is not intended as investment advice. It is just my personal opinion about the Zeepin Chain and GalaCloud. You should always do your own research.
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