In a landmark initiative that sets a new standard in decentralized finance (DeFi), Zeebu, a leading Web3 payment platform tailored for the telecom industry, has announced its upcoming quarterly token burn event. Scheduled for August 2, 2024, this event represents the third token burn under the governance of the ZBU Phoenix Protocol and aims to significantly reduce the circulating supply of ZBU tokens, thereby enhancing value and ensuring sustainable growth.

Commitment to Sustainable Growth

Since its launch in July 2023, Zeebu has successfully processed $3 billion in transactions, illustrating the growing adoption of its platform and ZBU tokens among telecom carriers. The platform leverages advanced blockchain technology to facilitate faster, more secure, and cost-effective settlements, employing smart contracts to automate transactions and reduce operational costs.

The ZBU Phoenix Protocol is pivotal to this success, implementing a systematic burning mechanism for ZBU tokens that reflects a regenerative cycle, symbolizing the resilience and lasting value of the cryptocurrency. This innovative approach aims to manage token supply effectively, ensuring ZBU’s utility as a settlement medium within the telecom sector.

Historical Success of Token Burns

The first quarterly burn in February 2024 resulted in the processing of $714 million in transactions and the burning of 236 million ZBU, representing 4.73% of the maximum supply. This was followed by a second burn in May, which saw over $1 billion in transactions and the incineration of 239 million ZBU, showcasing a remarkable 46.1% growth in transaction volume.

The upcoming third burn is projected to process over $1.5 billion in transactions, indicating an approximate 50% increase from the previous quarter. Keshav Pandya, COO and co-founder of Zeebu, stated, “Each burn event is a milestone in Zeebu’s evolution... Our innovative approach ensures a stable and reliable presence for ZBU.”

Launch of the ZBU Protocol: A Step Towards Decentralization

Alongside the burn event, Zeebu is excited to announce the launch of the ZBU Protocol, designed to become the largest liquidity protocol for B2B settlements. This protocol will enable various stakeholders—Delegators, Deployers, and On-Demand Liquidity Providers (OLPs)—to earn substantial annual percentage yields (APY) through Protocol Rewards.

With a projected settlement volume of $14 billion over the next year, participants can expect Protocol Rewards totaling approximately $196 million. Raj Brahmbhatt, CEO and founder of Zeebu, emphasized the protocol’s potential, stating, “With the ZBU Protocol, we’re unlocking the full potential of DeFi... This milestone marks a significant step forward in bridging the gap between traditional finance and decentralized innovation.”

A Synergistic Approach to Future Growth

The ZBU Phoenix Protocol and the ZBU Protocol are designed to function together, promoting liquidity, efficient settlements, and decentralization. This symbiotic relationship aims to create a robust trust network that is essential for the future growth and stability of the Zeebu ecosystem.

Keshav Pandya remarked, “The convergence of ZBU Phoenix Protocol and ZBU Protocol marks a significant milestone in our journey to build a vibrant ecosystem... Together, we’re creating a brighter financial future for all.”

About Zeebu

Zeebu is at the forefront of blockchain innovation in the telecom sector, offering integrated finance solutions that tackle inefficiencies and trust issues prevalent in the wholesale voice industry. By enabling rapid settlement times and eliminating intermediaries, Zeebu sets new benchmarks for efficiency and transparency in telecom settlements, positioning itself as a transformative force in the industry.