Zenon

Project Overview

Zenon Network (ZNN) is a dual-coin, dual-layer blockchain protocol that aims to create a decentralized infrastructure for developer acceleration and deployment of novel decentralized applications. The project implements a unique Proof of Stake system called zPoS and includes a second token called QSR (Quasar) that's used for network resources.

Purpose and Utility

The primary stated purpose of ZNN is to serve as the main currency and governance token of the Zenon Network. ZNN tokens are used for staking to secure the network, participating in governance, and accessing network resources. The Quasar (QSR) token serves as a utility token for deploying smart contracts and utilizing network resources.

Current Usage and Development

The network is currently operational with its mainnet, called the Network of Momentum (NoM). Active development continues with regular updates to the protocol. The project maintains an open-source codebase with verifiable development activity. Current usage primarily revolves around staking operations and community governance.

Token Distribution and Economics

The token distribution appears to be relatively decentralized, with no indication of excessive founder allocation. The dual-token model creates a sustainable economic framework for network operations.

Revenue Model and Operations

The project's revenue model is based on network fees and resource allocation, not on interest-bearing activities or prohibited industries. The staking mechanism serves as network security rather than a lending operation.