Zebec Network
Zebec Network is a blockchain, powered by the ZBCN cryptocurrency. It operates as a decentralized infrastructure network that facilitates the flow of real-world value, offering blockchain-powered applications for both conventional and digital economies. Zebec was launched in 2021 by Sam Thapaliya. [1]
Overview
Originally launched as a continuous settlement protocol on the Solana blockchain, Zebec has expanded its technological scope. It now includes various protocols and integrates a range of blockchain-enabled Real World Asset (RWA) payment and payroll products into a unified and interoperable network.[1]
To achieve these advancements, Zebec channels investments into traditional payroll service companies via its investment arm, Payroll Growth Partners (PGP). This endeavor involves direct integrations and collaborations with prominent financial platforms such as Circle and Stellar. Through these partnerships, Zebec facilitates features like near-zero cost cross-border remittances and USDC payroll via its WageLink application. WageLink also provides advanced payroll functionalities including early pay access, budgeting tools, bill payments, and pay cards within a unified platform.[1]
Products
Zebec Cards
In late 2023, Zebec introduced the Zebec Instant Card, recognized as the industry's first multi-chain card without custodial requirements and transaction fees. This card, available in 138 countries and supported by global networks such as Visa and Mastercard, enables users to convert cryptocurrency into their preferred fiat currency for everyday purchases. Activation of the card takes a few seconds, and those supported by Mastercard can be seamlessly integrated into Apple Pay or Google Pay for immediate online or in-store usage. [2]
RWA Payments
WageLink Payroll Application integrates web3 capabilities, including low-cost cross-border remittances and USDC payroll services. It also provides advanced payroll features such as early pay access, budgeting tools, bill payment functionality, and pay cards, all accessible through a unified application interface. [3]
Nautilus Chain
Launched in 2023, Nautilus is engineered as a high-performance, adaptable L3 blockchain specifically designed to facilitate Zebec's global Real World Asset (RWA) payments and DePin infrastructure. Nautilus also accommodates various projects and decentralized applications (dApps) requiring high performance and security, such as decentralized finance (DeFi), payment systems, gaming, and more. [4]
Zebec Vaults
Zebec Vaults offer a variety of Security Measures for their customers:
- Funds are stored in a highly secure, multi-signature wallet. Accessing one's wallet entails obtaining multiple signatures or keys dispersed across various devices. Unlike the single signature or chip-and-pin code typical of traditional bank accounts, this layered security approach significantly raises the bar for unauthorized access. With multi-signature security, the wallet functions more akin to a bank vault, necessitating multiple key holders and keys for access.
- Utilization of smart contracts. The relationship between parties is facilitated through smart contracts, automating interactions (e.g., between employers and employees), and eliminating intermediaries while upholding credibility and authenticity.
- Ensuring Fund Security. Zebec undergoes audits by leading blockchain security firms (CertiK, Trail of Bits, and Bramah Systems), maintains full compliance within the US, and commits to ongoing collaboration with international regulators to uphold the highest standards for security and compliance in the streaming finance sector. At Zebec, a dedicated team works around the clock to ensure their customers' protection, promptly identifying any suspicious activity to keep one's funds secure. [6]
ZBCN Tokenomics
The $ZBC token, launched in 2022, serves as a governance token within the Zebec ecosystem, providing utility through various incentives and reduced network fees. Zebec's DAO and community participate in governance, influencing the protocol's direction and operational improvements.[8]
Governance
Zebec operates under a hybrid governance framework combining on-chain and off-chain decision-making processes. Community members and investors contribute to discussions, with proposals advancing to on-chain voting stages. The governance process emphasizes transparency and inclusivity.[8]
The governance procedure and voting process unfold as follows: community members commence discussions by proposing ideas on Zebec’s platforms, while investors and partners also contribute suggestions for consideration. Off-chain activities, such as briefings, discussions, and consultations, are consolidated into articles and reports disseminated through Zebec’s communication channels and community forums. Proposals garnering significant engagement, following consultations with investors and influential ZBC holders, advance to the voting stage. The DAO conducts these votes on-chain, with the outcomes subsequently disclosed and communicated to the wider community.[8]
Funding
In November 2021, Zebec raised $6 million in a seed round led by Republic Capital, with participation from several prominent investors. This funding was aimed at developing Zebec's continuous settlement protocol on the Solana blockchain and initial market entry.[9]
In January 2022, Zebec raised an additional $15 million in a Series A round led by Solana Ventures and Distributed Global, again with notable participation from investors like Alameda Research, Circle, Coinbase, GoldenTree Asset Management, and Lightspeed Venture Partners. This round aimed to scale the Zebec platform, enhance its payroll and payment services, and expand its user base and market presence.[7]
In 2023, Zebec raised $28 million through a combination of public and private sales of ZBC tokens. The private sale raised $21 million, while a subsequent public sale added another $7 million. This funding focused on further developing Zebec's ecosystem, including the launch of its proprietary L3 chain, Nautilus Chain, and the expansion of its DePin infrastructure.[9]
