ZIL is the native token of Zilliqa, a blockchain platform that focuses on scalability and efficiency in transaction processing. It is used for various purposes on the platform, including transaction fees and participating in the network's governance.  It enables interaction with all dApps and platform services within the Zilliqa ecosystem. ZIL can be utilized for various purposes, including payment for goods and services, purchasing and selling NFTs, etc. ^[6]

Tokenomics

The total supply is 21,000,000,000 ZIL. The initial token launch date was August 31st, 2017, and the initial distribution of ZIL was as follows: ^[5]

• 30.00% allocated to Early & Community Contributions
• 40.00% allocated to Mining Rewards
• 30.00% allocated to Company, Team, Agencies

Token Generation Event

Zilliqa launched its first Token Generation Event (TGE) in December 2017 to help sustain the research and development of Zilliqa and facilitate dApp development and adoption of the platform. 60% of the finite supply of tokens was launched at this TGE. ^[2]

Governance ZIL (gZIL)

Governance ZIL (gZIL) is the governance token for the Zilliqa network. It allows long-term token holders to engage in ecosystem decisions. Each gZIL token represents one vote, and voting power scales according to the amount held. ^[4]