NAUT to Replace ZBC in Rewards for Zepoch Holders
The switch to Nautilus’ native token will provide extra benefits to Zepoch Node holders.
Now that the community has overwhelmingly passed ZIP-3, Zepoch Node holders will begin to receive their airdrop rewards as NAUT tokens. ZIP-3 was the community proposal on Zebec’s governance platform to launch a token native to Nautilus Chain, instead of using ZBC.
Switching Airdrop Rewards from ZBC to NAUT
Previously, Zepoch Node holders received airdrop rewards in ZBC tokens. However, users will for the time-being receive “IOU” NAUT tokens until NAUT launches on mainnet. The deployment timeline for NAUT is yet to be confirmed but more details will be released to the community soon. Upon the launch of the mainnet NAUT tokens, the “IOU” tokens can be exchanged on a one-for-one basis.
This switch in airdrop reward payments requires no action from Zepoch validator holders. If they wish, Zepoch holders can withdraw their ZBC from their validators. However, if they don’t, their ZBC will be exchanged for an equivalent amount of “IOU” NAUT tokens with no loss.
Eventually, NAUT will have all the uses of a standard L1 token, though applied to Nautilus L3 architecture. It will be used for gas fees, governance, and to reward sequencers. This marks the first step in a long process of maturing the Nautilus ecosystem and bringing L3 modular chains to Web3.
How NAUT and Nautilus are Changing Web3
As stated above, NAUT will be the native token of Nautilus and will take on all the normal utility of an L1 token. NAUT will be used to pay gas fees and minting fees, as well as act as the governance token. Currently, gas fees on Nautilus are paid in ZBC because of Zebec’s integral part in launching the chain, but that will change with the launch of NAUT in the coming months.
Nautilus Chain itself is pioneering modular chain technology. A “Layer 3” chain, it lets developers tailor the blockchain foundation on which they build their dApps. With Nautilus, developers will be able to customize the data availability layer, execution layer, and settlement layer to create a “chain stack” that is tailored to their needs. Nautilus uses optimistic rollups for scalability and has plans to also offer zkRollups in the future.
The end result is an EVM-compatible chain that has the scalability and flexibility necessary for mainstream adoption. Developers will be able to build dApps that bring Web3 and Web2 together. For example, Nautilus will have the throughput necessary for tokenizing RWAs and enabling real-time continuous payment streaming, revolutionizing payroll, and early wage access services (EWAs). It will be able to facilitate on-chain stock trading and also provide a certain level of privacy so projects can comply with consumer protection laws.
In essence, Nautilus and NAUT will empower developers to build next-generation dApps that are ready for real-world use.
Other Zepoch Token Rewards to Stay the Same
Over 50 different projects are preparing to launch on Nautilus Chain. As they do, each will give certain rewards to Zepoch Validator holders for their early support of the ecosystem. These rewards will be paid in the native token of the project.
For instance, PoseiSwap, a next-generation DEX launching on Nautilus, will still airdrop its POSE tokens to Zepoch holders, not ZBC or NAUT. Themis Gavel holders and certain early Zepochs nodes will receive extra bonuses from these projects. However, if you want to support the Nautilus ecosystem and mission, it isn’t too late to join Operation Horizon and purchase your own Zepoch Validator node.
Learn more about Operation Horizon here and purchase your own Zepoch Validator to enjoy incredible rewards as the Nautilus ecosystem continues to grow!
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.