ZkSync’s Phezzan Protocol: A New Management, A New Direction

04/23/2023 02:04 • NFT Newsflash • 128 views

On April 23rd, zkSync’s decentralized and sustainable contract agreement, Phezzan Protocol, announced on Twitter that a new team has taken over the Phezzan Protocol project and will assume the management role of the project, and will conduct IDO as soon as possible to solve the problem of operating funds. In early 2023, Phezzan Protocol founders Roland and Jack received investments from VC firms including Delphi and Cogitent, with a total financing amount of over $1 million. Afterwards, Roland and Jack believed that this method violated their community oriented ideals and refunded 100% of the payment.

ZkSync Ecological Sustainability Contract Agreement Phezzan Protocol has been taken over by a new team

Introduction

On April 23rd, Phezzan Protocol, the decentralized and sustainable contract agreement developed by zkSync, made an exciting announcement on Twitter. A new team has taken over the management of the project and will soon conduct an IDO to solve the problem of operating funds. This new development has many in the crypto world intrigued and excited, especially considering the history of Phezzan Protocol and its founders.

The Early Days of Phezzan Protocol

In early 2023, Phezzan Protocol founders Roland and Jack received significant investments from VC firms Cogitent and Delphi, among others, totaling over $1 million. However, they soon came to the realization that this method of funding violated their community-oriented ideals. As a result, they refunded 100% of the payment, signaling their commitment to their vision.

Enter the New Management

The recent announcement of new management taking over Phezzan Protocol has generated excitement within the crypto space, as it suggests an exciting new era for the project. The decision to conduct an IDO aims to tackle the challenge of operating funds, which is a common problem for many new crypto projects. The new team’s takeover and plans for the project’s future will be necessary to watch.

The Promising Future of Phezzan Protocol

The vision of Phezzan Protocol is to establish a decentralized and sustainable contract agreement that can be used for a variety of applications. By implementing zkSync, an Ethereum scaling solution, this project aims to significantly reduce transaction costs while improving scalability issues.

FAQs

1. What is Phezzan Protocol?

Phezzan Protocol is a decentralized and sustainable contract agreement developed by zkSync that aims to reduce transaction costs while improving scalability.

2. Who are the founders of Phezzan Protocol?

The original founders of Phezzan Protocol are Roland and Jack who have refunded investments worth $1 million in recognition of their community-oriented ideals.

3. Why is the new management taking over Phezzan Protocol important?

The new management team aims to conduct an IDO to solve the problem of operating funds, pointing towards a new era for Phezzan Protocol’s future.

Conclusion

The management takeover of Phezzan Protocol and the announcement of an IDO is just the beginning for this exciting new project. With its vision of decentralization and sustainable contract agreements, the future is bright for Phezzan Protocol as it tackles the significant challenges facing the crypto world.

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