Community Discussion: Should Nautilus Have a Native Token?
The community is invited to consider and discuss a recent proposal to launch the NAUT token. A final decision will be made by a Zebec DAO on its community governance platform.
In the last couple of weeks, the Nautilus ecosystem and Zebec community have been abuzz on a critical question: should Nautilus have its own token or use wrapped ZBC?
This question is key to the Nautilus ecosystem, and the community will make the final decision. Zebec is merely a contributor to Nautilus and can’t make the decision unilaterally. As a decentralized blockchain community, Nautilus Chain members will ultimately get to vote on what they think will be best for everyone.
Already discussions and debates have taken place on community channels. Once there has been enough time to allow for deep economic analyses and genuine discussion and exploration, a vote will be held on Zebec DAO’s governance platform.
A Key Concern
No matter what, it is advised that there always be some kind of connection or equivalence between $ZBC and $NAUT. The reason being that ZBC plays — and will continue to play — an essential role in many people’s paychecks and lives.
ZBC isn’t just another token that goes up and down like Bitcoin. It serves as a payment token for real-time payments, and many people depend on ZBC for their paychecks. It wouldn’t be fair to the Zebec community, who supported Nautilus from the beginning, to suffer a significant price shock due to the launch of NAUT on Nautilus Chain.
That being said, it may still be a good thing for Zebec and especially for Nautilus to have its own community token. To facilitate discussion and ensure the voters are well-informed, here’s an initial look at the pros and cons of launching NAUT.
The Pros
Liquid Staking: One benefit of a NAUT token is it would allow for liquid staking. Liquid staking enables users to keep their staked tokens liquid through the use of staking derivatives. It is an increasingly popular solution, and it is estimated that around 30% of all staked ETH is now on Lido Protocol as liquid-staked ETH.
Having liquid staking would greatly benefit the Nautilus ecosystem, encouraging more members to join, increasing security, and making it easier to participate in new ecosystem dApps.
Growth Potential: Some community members have pointed out the possibility of $NAUT mirroring the success of Arbitrum’s token. Like Arbitrum and Optimism, Nautilus focuses on rollups and modularity and is a powerful scaling solution. Because of its cutting-edge technology, Nautilus attracts many practical dApps. If Nautilus launched NAUT, the token could perform well in the market and benefit early holders.
Security: Having a native token is more secure than relying on a wrapped token (like wrapped ZBC). Wrapping a token introduces bridging and an extra level of complexity which may make the network more vulnerable.
The Cons
Keeping ZBC Relevant: As stated before, while launching NAUT, it would be essential to ensure that ZBC didn’t suffer in terms of price action. Launching NAUT has raised questions among some about the current value and future relevance of ZBC. Future discussion is necessary to tease out the issue, enumerate the use cases of ZBC, and reinforce its importance within the ecosystem.
Zepoch Node Rewards: There is also a concern regarding the impact a NAUT token would have on Zepoch Node NFT rewards. Though it would most likely end up benefiting Zepoch holders, it is vital to elaborate on what kind of incentive structure NAUT could offer holders and to clarify any potential misunderstanding and alleviate any fears.
Keep Talking
It’s important for a decentralized community like Zebec and Nautilus to always discuss key changes to the ecosystem like this.
Nautilus is getting ready to launch on mainnet, and already there are all kinds of projects lining up: DEXs, staking protocols, lending and borrowing projects, payment dApps, and more are all coming to Nautilus, according to the latest video update from Zebec founder Sam Thapaliya. No matter what, there will be a dedicated and thriving community on Nautilus.
We encourage the current debate to continue, and we want to invite everyone to keep the best interests of the Nautilus ecosystem as a whole, past and future, in mind as they discuss the topic.
About Nautilus
Nautilus Chain is the first production-ready modular chain in Web3. Through its modular architecture, Nautilus combines the speed of Solana with the decentralization and security of Ethereum to become the fastest EVM chain available, capable of parallel transaction processing.
Developers can use Nautilus to build next-generation payment dApps capable of real-time settlement. Nautilus provides Solidity developers with the efficiency and customization to build dApps that wouldn’t be possible on other EVM foundations.
With Nautilus, Web3 technology will have the reliability and scalability needed to replace traditional payment rails worldwide.
