🚨Reminder: All official $ZIL listings are only announced on our verified channels.

Any claims made outside official Zilliqa channels should be treated with caution!

Stay safe #Zilfam.

Dear Community,

The network is now back online for validators, and a permanent fix is being implemented for public use.

We appreciate your patience, and will keep you updated.

#Zilfam,

We’ve encountered another issue with the network.

We apologise for any inconvenience, and appreciate all the feedback / reports.

We have identified the bug and will resolve the issue as soon as possible. Rest assured - all funds are safe!

Attention Zilfam!

As a result of unexpected behaviour in Zilliqa's rewards distribution mechanics, the ongoing adjustment to staking rewards has not been reducing inflation by the amount we had predicted.

We have implemented a workaround to correct this issue, which involves setting the staking reward parameter in the contract to the pre-adjustment rate and then manually remitting the difference between the advertised and collected rewards back to the null address.

This will have the effect of reducing inflation as intended while ensuring the rewards received by stakers continue to follow the previously forecasted trend in line with the monthly adjustments.

This change will be implemented with the next planned adjustment to staking rewards, scheduled for May 2, 2024.

? ZilBridge is back online!

Full functionality has been restored to the ZilBridge platform, with all transactions now synchronised and users once again able to bridge tokens at https://zilswap.io/bridge.

We understand that the extended disruption to ZilBridge has been a frustrating experience, and we appreciate the patience shown by the community as we worked with Switcheo Labs and Poly Network to bring the platform back online.

We will shortly publish a root cause analysis that will provide a detailed breakdown of this issue and how it was resolved.